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EO Update March 4, 2013

Issue Number: 2013-4
Inside This Issue

  1. Effect of Sequestration on Small Business Health Care Tax Credit
  2. Register now for EO workshops
  3. 2012 Form 990 and 990-EZ – Significant changes
  4. IRS Expands Voluntary Worker Classification Settlement Program
  5. IRS Nationwide Tax Forum information
  6. EO’s free e-newsletter helps keep charities and nonprofits up to date
  7. IRS Exempt Organizations wants graduate students for the summer volunteer program

 1.  Effect of Sequestration on Small Business Health Care Tax Credit


Pursuant to the requirements of the Balanced Budget and Emergency Deficit Control Act of 1985, as amended, certain automatic cuts will take place as of March 1, 2013. These required cuts include a reduction to the refundable portion of the Small Business Health Care Tax Credit for certain small tax-exempt employers under Internal Revenue Code section 45R. As a result, the refundable portion of your claim will be reduced by 8.7% percent. The sequestration reduction rate will be applied until the end of the fiscal year (Sept. 30, 2013) or intervening Congressional action, at which time the sequestration rate is subject to change.


 2.  Register now for EO workshops


It’s not too late to register for our upcoming workshops for small and medium-sized 501(c)(3) organizations on:

  • March 13 - Gainesville, FL
    Hosted by Santa Fe College/College of Central Florida with the Nonprofit Center of Central Florida and the Nonprofit Business Center
  • March 14 - Ocala, FL
    Hosted by Santa Fe College/College of Central Florida with the Nonprofit Center of Central Florida and the Nonprofit Business Center

 3.  2012 Form 990 and 990-EZ – Significant changes


This chart summarizes significant changes to the Form 990, Form 990-EZ, schedules and instructions for tax year 2012.
 


 4.  IRS Expands Voluntary Worker Classification Settlement Program


The program paves the way for more taxpayers to take advantage of this low-cost option for achieving certainty under the law by reclassifying their workers as employees for future tax periods. Read article.
 


 5.  IRS Nationwide Tax Forum information


The IRS Nationwide Tax Forums offer three full days of seminars with the latest word from IRS leaders and experts in the fields of tax law, compliance and ethics. Attendees can:

  • Select from more than 40 seminars and workshops
  • Earn up to 18 continuing professional education credits
  • Explore the expo for the latest tax professional products and services

Click here to find locations and register.
 


 6.  EO’s free e-newsletter helps keep charities and nonprofits up to date


EO Update is a free electronic newsletter that helps charities, nonprofits and other tax-exempt organizations comply with their tax responsibilities.

Help spread the word by asking people to subscribe now.  

Each edition provides important information about:

  • Changes to the Internal Revenue Code, new forms, guidance and publications
  • Additions to the IRS’s charities and nonprofits website (irs.gov/charities)
  • Dates for upcoming training and outreach events

EO Update is recommended reading for anyone interested in tax-exempt issues – especially tax practitioners, attorneys and leaders and staff of tax-exempt organizations.

For more information about tax-exempt issues and exempt organization educational materials, go to our Charities and Nonprofits page.

E-mail questions/comments about the publication to tege.eo.ceo@irs.gov.
 


 7.  IRS Exempt Organizations wants graduate students for the summer volunteer program


Are you a graduate student interested in nonprofit law, management or policy? Are you looking for a unique opportunity to become familiar with federal tax provisions that govern many charities and nonprofits? If so, then keep reading.

The IRS Exempt Organizations (EO) graduate student summer volunteer program is an exciting opportunity to learn about the federal tax code and the projects and programs the IRS uses to promote education and enforce compliance among tax-exempt organizations nationwide.

Requirements

  • Current graduate students
  • Concentration or interest in nonprofit law, management or policy preferred
  • Proficient in Microsoft Office
  • Strong writing and research skills
  • United States citizens only

Other Details

  • Student volunteer program located in EO's HQ offices in Washington, DC
  • Volunteers will be placed in either EO Rulings and Agreements or Customer Education & Outreach office
  • 15-20 hours a week
  • Unpaid, with the opportunity for school credit

To Apply

Submit application packet via e-mail to tege.eo.ceo@irs.gov. by Friday, April 5, 2013. Packet must include:

  • Application form
  • Cover letter
  • Resume
  • Letter of recommendation from current or former professor or supervisor

Applications will be considered on a rolling basis. Questions? Contact Pilar Jarrin at tege.eo.ceo@irs.gov.

 

Page Last Reviewed or Updated: 16-Dec-2014