IRS’ 2009-2010 Priority Guidance Plan Items Impacting Tax-exempt Organizations

The joint Department of Treasury/Internal Revenue Service priority guidance plan for 2009-2010 contains the following items of interest to tax-exempt organizations:Revenue procedure to provide terms for hosts of Cyber Assistant software (used to generate Form 1023 exemption applications eligible for reduced user fee).

  • Final regulations on the new requirements for Type III supporting organizations, added by the Pension Protection Act of 2006; proposed regulations were published in September 2009.
  • Notice under Code section 4943 (excess business holdings), as amended by the Pension Protection Act.
  • Guidance on program-related investments of private foundations (Code section 4944).
  • Final regulations on excise taxes on prohibited tax shelter transactions and related disclosure requirements; proposed regulations were published in 2007.
  • Proposed regulations on new excise taxes on donor advised funds, as added by the Pension Protection Act.
  • Regulations on group returns (Code section 6033).
  • Proposed regulations to update regulations under Code section 6104(c), relating to disclosure to state charity agencies for changes made by the Pension Protection Act,
  • Final regulations on church tax inquiries and examinations (Code section 7611); proposed regulations were published in 2009.
  • Revenue procedure on prototype plan documents for section 403(b) tax-sheltered annuity plans, and guidance on termination of such plans.
  • Guidance for ruling requests for church plans (Code section 414(e)).
  • Several items on guidance for deferred compensation plans of tax-exempt organizations and state and local governments (Code section 457).
  • Final regulations on appraisal requirements for certain charitable contributions of property; proposed regulations were published in 2008.
  • Guidance on charitable lead trusts (Code section 642(c)) and charitable remainder trusts (Code section 664).
  • Regulations addressing the application of the lookback interest rules (Code section 460) to certain pass-through entities with tax-exempt owners.
  • Final regulations regarding the disclosure of certain administrative actions that are required to be made available to the public (Code section 6104). Proposed regulations were published in 2007.
  • Regulations under section 6109 regarding the use of preparer tax identification numbers (PTINs) by tax return preparers.
  • Regulations regarding interest on tax overpayments by tax-exempt organizations (Code section 6611).
  • Update of guidance concerning user fees.
  • Regular updates to procedures for letter rulings, technical advice, and user fees.

Ellis Carter is a nonprofit lawyer with Caritas Law Group, PC. To contact Ellis, call 602-456-0071 or email us at info@caritaslawgroup.com.

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