IRS Notes

The IRS will eliminate from the summary page of a redesigned Form 990 information return for tax-exempt organizations questions on compensation percentages, fundraising percentages, and comparisons of an organization's net assets to total expenses, an IRS official said on September 28. The IRS, which last summer released a draft form of a redesigned Form 990 information return for tax-exempt organizations that includes a summary page designed to provide a concise look at an organization's mission, will eliminate from that page questions on compensation percentages, fundraising percentages, and comparisons of an organization's net assets to total expenses. Read more at Tax Analysts


IRS releases its list of organizations that either did not meet, or no longer qualify for tax exempt status as public charities, and are not considered private foundations. See the full list here


In private letter ruling LTR 200739012, the Service has ruled that an organization hired by the state to provide behavioral healthcare services to state residents will not lose its exempt status when it contracts to provide medication services to another organization nor will the provision of services to the other organization constitute an unrelated trade or business. Read the full private letter ruling here


In private letter ruling LTR 200739014, the Service has ruled that an organization managing a down payment assistance program does not qualify for tax-exempt status as an organization described in section 501(c)(3) because it failed to maintain the documents required to justify its existence. Read the full private letter ruling here