The House of Ways and Means committee passed seven bills this week, all of which aim to reform the IRS. It is part of the GOP House’s efforts to come up with a 2016 fiscal year budget. Here is the…
According to Harold Hancock, legal counsel for the House Ways and Means Committee, tax code changes are possible this year for charities and other nonprofits. We talked about this last year (and the year before), but so far, nothing has…
In our last article, we discussed legal liability of board members as it relates to corporate law. This post highlights liability in regards to IRS tax-exemption regulations. The board of directors collectively governs the affairs of a nonprofit organization. As…
We recently discussed a new bill which would require the IRS to give nonprofit organizations more advanced notice before revoking their tax-exempt status. Sens. Dan Coats and Ben Cardin coordinated the “Notice for Organizations That Include Charities is Essential (NOTICE)…
Two senators are sponsoring legislation which would require the IRS to give nonprofit organizations more advanced notice that they are at risk of losing tax-exempt status. This measure was introduced this past week by Republican Dan Coats and Democrat Ben…
The U.S. Government Accountability Office (GAO) found that audits of tax-exempt groups have been on the decline. Due to its lack of resources and a dwindling workforce, the IRS has only reviewed 0.7 percent of filing charities’ tax returns. Based…
The IRS released two notices (Notice 2014-65 and 2014-68) in late October that state the following: President Obama has stated that the Ebola Virus Disease (EVD) outbreak in West Africa is a public health emergency, a humanitarian crisis, and a…
The Internal Revenue Service has issued new guidance (in the form of Revenue Procedure 2014-11) for small nonprofits looking to regain lost tax-exemption. The process outlined in the Rev. Proc. significantly changes the reinstatement process…mostly for the better. Under the…
UPDATED (9:00 am, 10/1/2013): It happened. Most non-essential, federal workers are now furloughed until further notice. As of midday, Monday, September 30, 2013, both sides of the political aisle are firmly entrenched on the federal budget talks and neither side…
Breaking News! – 6:45 pm (EDT), May 15, 2010 The first head has been chopped off in the unfolding IRS scandal. President Obama just announced the resignation of IRS Acting Commissioner Stephen Miller. Who’s next?