Tax Planning and Compliance for Tax-Exempt Organizations, Fifth Edition 2014 Cumulative Supplement

Preface

Good news this year: Several important regulations were issued. Type III supporting organization regulations to implement the changes made by the Pension Protection Act of 2006 were finalized with further comments requested for changes made in response to comments on the 2009 proposed regulations [§ 11.6]. Proposed regulations on new requirements for charitable hospitals under § 501(r) that address financial assistance policies, limitations on charges, and billing and collection requirements were issued [§ 4.6]. Nine new examples were proposed to be added to the program-related investment regulations applicable to private foundations. The concepts reflected in the examples reflect investment practices that are considered to accomplish a charitable purpose for which both a public charity and a social welfare organization must operate [§ 16.3].

Regulations were finalized (actually in September 2011) for the provisions of IRC §§ 170 and 509 to implement the Pension Protection Act provisions that eliminated the advance ruling period and made changes in the public support test calculations [§ 11.2].

The IRS replaced Publication 78 with Select Check that now contains a category for revoked organizations and those who filed 990-N. In March 2013 they announced they would be revising the list monthly after a catch-up period of about seven months in which it was not updated.

Be looking for an interactive Form 1023 that will feature pop-up text boxes for each line of the form that ...