Barring that, however, the onus is (again) generally on the tax-exempt organization
to file the required extensions, remit the estimated payments on UBTI, and file its state income/franchise tax returns.
Bertelsman noted that the IRS "argues that the Atheists voluntarily choose to spend their time and money complying with the alleged discriminatory standards for tax-exempt organizations
and their self-inflicted injury fails to rise to an injury in fact and is not traceable to Government action.
Microdata records of all Forms 990 and 990-EZ sampled for the annual SOI study of tax-exempt organizations
Any CEO of a tax-exempt organization
will tell you that he or she is always looking for attorneys to serve on the board of his or her organization.
To claim the healthcare tax credit, tax-exempt organizations
will need to file Form 990T, even if they have no unrelated business income.
To gather data on CHOLI transactions, the IRS has developed drafts of 2 forms: Form 8921, Transactions Involving a Pool of Applicable Insurance Contracts, and Form 8922, Applicable Insurance Contract Information Return (for Tax-Exempt Organizations
and Government Entities under Section 6050V).
The Internal Revenue Service recently provided valuable guidance for tax-exempt organizations
regarding joint ventures with commercial business entities.
The proposed regulations state that if a tax-exempt organization
makes the required information widely available it does not have to supply it to each individual that requests it.
Consistent with this characterization, the IRS position regarding Subpart F income was that Subpart F income received by a tax-exempt organization
should be treated as a dividend and, consequently, excluded from UBTI.
An organization that wishes to apply for recognition as a tax-exempt organization
must generally do so within 15 months after the date it is created.
The IRS believes that strong corporate governance leads to increased compliance for tax-exempt organizations
Critics claiming that there are "too many" nonprofits will have something to cheer about in early 2011 when the Internal Revenue Service (IRS) publishes the list of tax-exempt organizations
that have had their status automatically revoked for failure to file annual information tax returns for three consecutive years.