The IRS released a statement admitting that they sent certain tax-exempt organizations premature auto-revocation notices in error.
Nonprofit Tax Consulting
On January 31, 2020, the IRS announced that it has released a new online version of Form 1023. The revised Form 1023, Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code is reformatted for electronic filing.
On January 21, 2020, the IRS issued guidance detailing how nonprofits can apply for refunds of the repealed “parking tax.” Recall that in December 2017, the Tax Cuts and Jobs Act imposed an unpopular and widely criticized 21% tax on employee transportation benefit expenses incurred by nonprofits. The transportation tax, or “parking tax” as it came to be known, was retroactively repealed in December of 2019. The retroactive nature of the repeal creates an opportunity for nonprofits that paid the tax to seek refunds.