You may encounter something even scarier than Halloween today. The IRS is warning about a sophisticated phone scam targeting taxpayers around the country. The scammers tell people that they owe money to the IRS and that it must be paid immediately using a debit card or wire transfer. If the victim refuses to cooperate, the …
Posts Tagged: IRS
Extending Time for Charitable Donations
Have you ever experienced the anxiety of making all of your charitable donations before December 31? The Charitable Giving Extension Act, introduced by House Ways and Means Committee member Mike Kelly (R-Pa), would allow you to focus on present giving during December. The Act would allow individuals to treat charitable donations made until April 15 …
Employee Benefits Follow-Up
Last week, our guest blogger Christine Roberts explained the impact the recent Supreme Court ruling on the Defense of Marriage Act has on employee benefit plans. Since that blog, the IRS and U.S. Department of Labor (“DOL”) have both issued written guidance about this matter. Christine is back guest blogging with us this week to …
Exempt Org Law Turns 100
The original version of today’s section 501(c)(3) (which governs charitable organizations) was signed into law on October 3, 1913. The original law has been expanded since 1913, with additions of recognizing exemption for literary organizations, organizations that prevent cruelty to children or animals, organizations that test for public safety, and organizations that foster national or …
IRS To-Do List (AKA Priority Guidance Plan)
Every year around this time the IRS releases its to-do list for the upcoming year. The IRS calls it the Priority Guidance Plan. Each plan identifies the main issues that the IRS hopes to tackle in the upcoming year. But like any good to-do list, the items on the list are not guaranteed to get …
To Disclose or Not to Disclose
If someone requests that your nonprofit disclose its exemption documents, must your organization comply? In general, yes. An exempt organization must make publicly available its last three annual returns and its IRS application for exemption. Note, however, that an exempt organization, other than a private foundation, does NOT need to disclose the names and addresses …