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Priority Guidance Plan: 2007-2008

The joint Department of Treasury/Internal Revenue Service priority guidance plan for 2007-2008 contains the following items of interest to tax-exempt organizations:

  1. Final regulations under Internal Revenue Code sections 501(c)(3) and 4958 on revocation standards for organizations that engage in excess benefit transactions (proposed regulations were published September 9, 2005).
  2. Proposed regulations on new requirements for supporting organizations added by the Pension Protection Act of 2006.
  3. Regulations regarding qualified tuition programs under section 529.
  4. Final regulations on excise taxes on prohibited tax shelter transactions and related disclosure requirements.
  5. Proposed regulations on new excise taxes on donor-advised funds, as added by the Pension Protection Act of 2006.
  6. Regulations on the e-Postcard notification requirement for entities currently not required to file.
  7. Regulations to implement Form 990 revisions.
  8. Proposed regulations under Code section 170(f)(12), regarding contributions of qualified vehicles. Interim guidance was issued as Notice 2005-44.
  9. Regulations under section 170 on revisions to substantiation and reporting requirements for charitable contributions adopted by recent legislation. Interim guidance was issued as Notice 2006-96.
  10. Guidance under section 642(c) on the ordering rules for charitable payments made by a charitable lead trust.
  11. Revenue ruling on the division of charitable remainder trusts under section 664.
  12. Proposed regulations under section 664(c) to reflect 2006 legislation concerning the effect of unrelated business income on charitable remainder trusts.
  13. Revenue procedure under section 2522 providing sample inter vivos charitable lead unitrusts.
  14. Guidance under section 460 addressing the application of the lookback interest rules to certain pass-through entities with tax-exempt owners.
  15. Final regulations under section 6050L on amended information reporting requirements for qualified intellectual property contributions. Proposed regulations were published in May 2005.
  16. Regulations under section 6611 regarding interest on overpayments by tax-exempt organizations.
  17. Updates of annual revenue procedures governing issuance of letter rulings and technical advice and providing a schedule of user fees for the Tax Exempt and Government Entities Division.

 

Page Last Reviewed or Updated: 18-Sep-2014