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Search results for Internal Revenue Service
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August 30, 2010 From Chronicle of Philanthropy
The Internal Revenue Service reminded thousands of small charities that they can keep their tax-exempt status even if they missed their May deadlines to file a new online form.
The IRS also released additional advice for some organizations, including those that believe they are exempt from filing...
July 27, 2010 From Chronicle of Philanthropy
The Internal Revenue Service announced how it will help thousands of small charities keep their tax-exempt status even if they missed their May 17 deadline for filing a new online form or are about to miss subsequent deadlines.
Small groups at risk of losing their exemptions...
July 12, 2010 From Chronicle of Philanthropy
More than 292,000 nonprofit organizations—about 18 percent of the charities in the United States—may lose their tax-exempt status in the next year for failing to file a tax return with the Internal Revenue Service, according to a report released on Thursday by the Urban Institute’s National...
May 10, 2010 From IRS
WASHINGTON — The Internal Revenue Service today released an interim report summarizing responses to compliance questionnaires sent to 400 public and private colleges and universities in October 2008. Colleges and universities make up one of the largest nonprofit segments in terms of revenue and assets.
The...
IRS Continues Its Focus on Governance Matters, Official Says
April 23, 2010 From News
April 23, 2010, Chronicle of Philanthropy — The Internal Revenue Service is not backing away from its controversial efforts to promote good governance by charities, according to its top nonprofit regulator.
The federal tax code does not explicitly set out governance standards for the IRS to enforce, but the tax agency in the past two years has been keeping an eye on charities' governance practices -- a move that has drawn criticism from some observers.
April 23, 2010 From News
April 23, 2010, Chronicle of Philanthropy — The Internal Revenue Service is not backing away from its controversial efforts to promote good governance by charities, according to its top nonprofit regulator.
The federal tax code does not explicitly set out governance standards for the IRS to enforce, but the tax agency in the past two years has been keeping an eye on charities' governance practices -- a move that has drawn criticism from some observers.
One-Fourth of Nonprofits Are to Lose Tax Breaks
April 23, 2010 From News
April 23, 2010, New York Times — As many as 400,000 nonprofit organizations are weeks away from a doomsday.
At midnight on May 15, an estimated one-fifth to one-quarter of some 1.6 million charities, trade associations and membership groups will lose their tax exemptions, thanks to a provision buried in a 2006 federal bill aimed at pension reform.
“It’s going to be an unholy mess once these organizations realize what’s happened to them,” said Diana Aviv, president of the Independent Sector, a nonprofit trade group.
The federal legislation passed in 2006 required all nonprofits to file tax forms the following year. Previously, only organizations with revenues of $25,000 or more — or the vast majority of nonprofit groups — had to file.
The new law, embedded in the 393 pages of the Pension Protection Act of 2006, also directed the Internal Revenue Service to revoke the tax exemptions of groups that failed to file for three consecutive years. Three years have passed, and thus the deadline looms.
April 23, 2010 From News
April 23, 2010, New York Times — As many as 400,000 nonprofit organizations are weeks away from a doomsday.
At midnight on May 15, an estimated one-fifth to one-quarter of some 1.6 million charities, trade associations and membership groups will lose their tax exemptions, thanks to a provision buried in a 2006 federal bill aimed at pension reform.
“It’s going to be an unholy mess once these organizations realize what’s happened to them,” said Diana Aviv, president of the Independent Sector, a nonprofit trade group.
The federal legislation passed in 2006 required all nonprofits to file tax forms the following year. Previously, only organizations with revenues of $25,000 or more — or the vast majority of nonprofit groups — had to file.
The new law, embedded in the 393 pages of the Pension Protection Act of 2006, also directed the Internal Revenue Service to revoke the tax exemptions of groups that failed to file for three consecutive years. Three years have passed, and thus the deadline looms.
Number of Charities and Foundations Passes 1.2 Million
March 17, 2010 From News
March 17, 2010, Chronicle of Philanthropy — The number of charities and private foundations registered with the Internal Revenue Service increased by 4.3 percent from 2008 to 2009, reaching a total of more than 1.2 million, according to figures released by the tax agency.
March 17, 2010 From News
March 17, 2010, Chronicle of Philanthropy — The number of charities and private foundations registered with the Internal Revenue Service increased by 4.3 percent from 2008 to 2009, reaching a total of more than 1.2 million, according to figures released by the tax agency.
IRS to Audit Harvard in Nonprofit Probe
January 13, 2010 From News
January 13, 2010, Cambridge, Mass., WebCPA.com — The Internal Revenue Service plans to audit Harvard University and about 39 other colleges as part of an overall review of tax-exempt nonprofit organizations.
January 13, 2010 From News
January 13, 2010, Cambridge, Mass., WebCPA.com — The Internal Revenue Service plans to audit Harvard University and about 39 other colleges as part of an overall review of tax-exempt nonprofit organizations.
Charities Rise, Costing U.S. Billions in Tax Breaks
December 7, 2009 From News
December 7, 2009, The New York Times - The number of organizations that can offer their donors a tax break in the name of charity has grown more than 60 percent in the United States, to 1.1 million, in just a decade.
December 7, 2009 From News
December 7, 2009, The New York Times - The number of organizations that can offer their donors a tax break in the name of charity has grown more than 60 percent in the United States, to 1.1 million, in just a decade.
Crunch Time for IRA Tax Break
November 17, 2009 From News
November 17, 2009, The Wall Street Journal — It's crunch time for a tax break that lets people tap their IRAs and give the proceeds to a charity without the Internal Revenue Service claiming part of the money.
November 17, 2009 From News
November 17, 2009, The Wall Street Journal — It's crunch time for a tax break that lets people tap their IRAs and give the proceeds to a charity without the Internal Revenue Service claiming part of the money.
IRS Should Improve Oversight of Motor Vehicle Donations, ReportSays
October 16, 2009 From News
Washington, October 15, 2009, The Chronicle of Philanthropy -- The Internal Revenue Service is not doing enough to make sure that donors of motor vehicles — and the charities that receive the gifts — are following the law so that donors do not take unsubstantiated tax deductions, according to a report from the Treasury Inspector General for Tax Administration.
October 16, 2009 From News
Washington, October 15, 2009, The Chronicle of Philanthropy -- The Internal Revenue Service is not doing enough to make sure that donors of motor vehicles — and the charities that receive the gifts — are following the law so that donors do not take unsubstantiated tax deductions, according to a report from the Treasury Inspector General for Tax Administration.
EO Exemption Application User Fees to Increase in 2010
September 3, 2009 From News
User fees will increase for all applications for exemption (Forms 1023, 1024, and 1028) postmarked after January 3, 2010.
September 3, 2009 From News
User fees will increase for all applications for exemption (Forms 1023, 1024, and 1028) postmarked after January 3, 2010.
Americans Report Making $47-Billion in Noncash Gifts
August 26, 2009 From News
Washington, August 26, 2009, The Chronicle of Philanthropy — Americans reported making donations of $46.8-billion in noncash gifts in 2006, counting only the taxpayers who took total deductions of more than $500 for such gifts during the year, according to a new report from the Internal Revenue Service.
August 26, 2009 From News
Washington, August 26, 2009, The Chronicle of Philanthropy — Americans reported making donations of $46.8-billion in noncash gifts in 2006, counting only the taxpayers who took total deductions of more than $500 for such gifts during the year, according to a new report from the Internal Revenue Service.
Weber Shandwick Chosen By National Marrow Donor Program(R) To Head Awareness Campaign
June 4, 2009 From News
MINNEAPOLIS-ST. PAUL, Minn., June 4, 2009 — The Minneapolis-St. Paul office of Weber Shandwick has been chosen by the National Marrow Donor Program to head the organization's largest annual awareness campaign. The "Be The Match(SM) Marrowthon" campaign, which runs June 8-22, will work to reach a diverse audience of current and potential bone marrow donors and advocates. For thousands of people with leukemia and other life-threatening diseases, a marrow transplant offers a second chance at life.
June 4, 2009 From News
MINNEAPOLIS-ST. PAUL, Minn., June 4, 2009 — The Minneapolis-St. Paul office of Weber Shandwick has been chosen by the National Marrow Donor Program to head the organization's largest annual awareness campaign. The "Be The Match(SM) Marrowthon" campaign, which runs June 8-22, will work to reach a diverse audience of current and potential bone marrow donors and advocates. For thousands of people with leukemia and other life-threatening diseases, a marrow transplant offers a second chance at life.
IRS Releases Tips for Answering Form 990 Questions on Governance Matters
June 1, 2009 From News
June 1, 2009, The Chronicle of Philanthropy — The Internal Revenue Service has released the third in a series of tips to help nonprofit organizations prepare their Form 990 informational tax return, the primary document that groups file each year.
June 1, 2009 From News
June 1, 2009, The Chronicle of Philanthropy — The Internal Revenue Service has released the third in a series of tips to help nonprofit organizations prepare their Form 990 informational tax return, the primary document that groups file each year.
