IRS TE/GE Fiscal Year 2019 Program Letter

On October 3, 2018, the IRS Tax Exempt and Government Entities (TE/GE) division issued their Fiscal 2019 Program Letter. Note in particular the emphasis on data-driven approaches and the focus on private foundation self-dealing, nonprofits that had converted from for-profits, and proper worker (employee vs. contractor) classification. Here are some highlights:...

Treasury Eliminates Donor Information Disclosures by 501(c)(4) and 501(c)(6) Organizations

The Treasury Department announced a change in the regulations making it no longer necessary for 501(c)(4) and 501(c)(6) organizations to disclose the identities of their donors on their annual information returns to the IRS. More specifically, tax-exempt organizations described by section 501(c), other than section 501(c)(3) organizations, are no...