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IRS Updates 2011-2012 Plan

February 1, 2012 Posted by The Law Firm for Non-Profits, P.C. in IRS, News

You are not the only one who makes to do lists. Last week, the IRS released updates to its Priority Guidance Plan, a checklist of items the IRS hopes to accomplish between July 2011 and June 2012. While the plan doesn’t provide any strict deadlines, these are projects the IRS will be actively working on throughout the year.

14 of the 331 projects directly relate to tax-exempt organizations. Included are the IRS providing guidance on supporting organizations, program-related investments, and tax exemption for certain qualified nonprofit health insurance issuers.

The IRS welcomes comments from you about the plan (email Notice.Comments@irscounsel.treas.gov with “Notice 2011-39″ in the subject line, but know that the IRS publishes all comments) and should be releasing another update before the end of the plan year. We will keep you posted.

NOTE: The information contained herein is not intended to be legal advice and the reader should know that no Attorney-Client relationship or privilege is formed by the posting or reading of this article which is also not intended to solicit business.

Casey Summar, Partner, The Law Firm for Non-Profits, 4705 Laurel Canyon Blvd, #306, Studio City, CA 91607

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