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Monday, January 22, 2018

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IRS Exempt Organization Update

April, 2010 Banner
EO Update April 2, 2010

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Issue Number:    2010-8

Inside This Issue

  1. New for 2010: Tax Credit Helps Small Tax-Exempt Organizations Provide Health Coverage
  2. Six Important Facts About Tax-Exempt Organizations
  3. IRS Issues Guidance on Identifying Numbers for Return Preparers
  4. 2010 National Tax Forums
  5. Revised Publication on Taxation of Unrelated Business Income Released
  6. Ten Tips for Deducting Charitable Contributions  

  1.  New for 2010:  Tax Credit Helps Small Tax-Exempt Organizations Provide Health Coverage

Many small businesses and tax-exempt organizations that provide health insurance coverage to their employees now qualify for a special tax credit.  Included in the health care reform legislation, the Patient Protection and Affordable Care Act, approved by Congress and signed by President Obama on March 23, the credit is designed to encourage small employers to offer health care coverage for the first time or maintain the coverage they have. The IRS will provide further information to tax-exempt employers on how to claim the credit.   Learn more about the credit at

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  2.  Six Important Facts about Tax-Exempt Organizations

Every year, millions of taxpayers donate money to charitable organizations. The IRS has put together the following list of six things you should know about the tax treatment of tax-exempt organizations:

  • Annual returns are made available to the public;
  • Donor lists generally are not public information; 
  • How to find tax-exempt organizations;
  • Which organizations may accept charitable contributions;
  • How to find tax-exempt organizations;
  • Which organizations may accept charitable contributions;
  • Requirements for organizations not able to accept deductible contributions; and
  • How to report inappropriate activities by an exempt organization. 

Learn more at

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  3.  IRS Provides Guidance on Identifying Numbers for Return Preparers

The IRS has issued proposed regulations allowing the IRS to require that tax return preparers use Preparer Tax Identification Numbers (PTINS) as the preparer's identifying number on all tax returns and tax refund claims that they prepare.  These regulations when final will implement some of the recommendations in Publication 4832, Return Preparer Review. Tax professionals and other interested parties have until April 26, 2010, to submit comments regarding the proposed regulations.

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  4.  2010 National Tax Forums

Register now for the 2010 National Tax Forums to be presented in six locations around the country this summer.  Attend three full days of workshops and get the latest information from IRS leadership and experts in the fields of tax law, compliance and ethics.  Enjoy networking opportunities, earn CPE credits, and hear about the latest products and services for tax professionals.   

Exempt Organizations will participate in the Nationwide Tax Forums again this year.  EO will present a new seminar, Charities and their Volunteers: Working Together to Help the Public. In addition, several sessions of the popular EO Form 990 workshop will be presented at each tax forum location. This year the focus of this workshop is: Top 10 Things You Need to Know about the Form 990.

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  5.  Revised Publication on Taxation of Unrelated Business Income Released

The IRS recently released a revised edition of Publication 598 (rev. Mar. 2010), Tax on Unrelated Business Income of Exempt Organizations. The popular publication explains the rules that apply to the taxation of unrelated business income including the types of organizations that are subject to the tax and how to figure unrelated business taxable income.

It also highlights changes that include:

  • increases in the maximum cost of a low-cost article and dues of agricultural organizations and business leagues,
  • the expiration of the five-year carryback election for losses on total capital expenditures, and
  • the expiration of qualified cash contributions for relief efforts in Midwestern disaster areas.

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  6.  Ten Tips for Deducting Charitable Contributions

The IRS has issued a list of tax tips to help contributors ensure that their contributions to charitable organizations are deductible for federal income tax purposes.

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If you have a technical or procedural question relating to Exempt Organizations, visit the Charities and Nonprofits homepage on the Web site.


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