Wednesday, October 10, 2007

IRS releases several publications relating to Exempt Organizations

Generally, Publication 4630 provides for general guidance for non-profits, and provides you with a “how to” and “where to” for the information that you may be in search of.

IRS Publication 1771 , Charitable Contributions-Substantiation and Disclosure Requirements, explains the federal tax law for organizations such as charities and churches that receive tax-deductible charitable contributions and for taxpayers who make contributions.

IRS Publication 4221 - PC addresses public charities and their activities that may jeopardize a charity's exempt status; Federal information returns, tax returns or notices that must be filed; Recordkeeping -- why, what, when; Changes to be reported to the IRS; Required public disclosures; Resources for public charities. IRS Publication 4221 - PF addresses these same issues with regard to private foundations.

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