Internal Revenue Bulletin: 2011-3
January 17, 2011
Final and temporary regulations under section 6302 of the Code relate to Federal Tax Deposits (FTDs) by Electronic Funds Transfer (EFT) and provide rules requiring depositors to use EFT for all FTDs and eliminate rules regarding FTD coupons.
This procedure provides that exempt organizations (other than private foundations or section 509(a)(3) supporting organizations) that normally have annual gross receipts of not more than $50,000 are not required to file an annual information return on Form 990 for taxable years beginning on or after January 1, 2010. Those organizations must file an annual electronic notice under section 6033(i). Rev. Procs. 83-23, 94-17, and 2003-21 modified and superseded.
The IRS has revoked its determination that the Northwest Conservation Stewardship Fund of Seattle, WA, qualifies as an organization described in sections 501(c)(3) and 170(c)(2) of the Code.
A list is provided of organizations now classified as private foundations.
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