To see today's edition, hold down the CONTROL button and click on the F5 button.

2009

Issue

Date

Subject

2009-106

November 20, 2009

Text of IRS Guidance on When and How to Elect to Carry Back a Net Operating Loss (NOL) Under the New Law

2009-105

November 20, 2009

IRS Pilot Program Allows Use of Truncated Social Security Numbers on Paper Statements for Individual Payees

2009-104

November 19, 2009

IRS Requires Revoked Subordinate in Group Ruling to Reapply for Recognition of Exemption

2009-103

November 19, 2009

Senate Majority Leader’s Health Care Reform Bill Includes Provision Affecting Tax-Exempt Hospitals

2009-102

November 18, 2009

IRS Rules That Rural Electric Cooperative Can Establish Separate Classifications to Manage Electric and Natural Gas Delivery Services to Members

2009-101

November 16, 2009

Federal District Court Finds Income From Sales of Financial Products to Credit Union Members Is Not UBTI; Other Issues Reserved for Trial

2009-100

November 16, 2009

Summary of the New Five-Year Carryback of Net Operating Loss Provision

2009-99

November 13, 2009

Tax Court Holds “Pooled Trust” Organization Not Exempt Under Section 501(c)(3)

2009-98

November 9, 2009

Interaction of New NOL Carryback Provision with Eligible Small Business NOL Election for 2008

2009-97

November 5, 2009

Congress Approves Legislation Expanding NOL Provision

2009-96

November 3, 2009

Senator Grassley Responds to Report of Salaries Paid to College Presidents

2009-95

November 2, 2009

IRS Finds University’s Stipend Payments to Post-Doctoral Fellows Are Subject to FICA

2009-94

November 2, 2009

IRS Issues Final Determination That Health Care Entity Is Not Exempt; Rather Is a Cooperative Enterprise That Provides Private Benefits to Members

2009-93

October 29, 2009

House Health Care Bill Would Impose Income Surtax

2009-92

October 28, 2009

IRS Notice Announces Further Extension of Effective Date of Normal Retirement Age Rules for Government Plans

2009-91

October 19, 2009

IRS Finds Health Care Entity Is Not Operated for Exempt Purposes, but Instead Provides Private Benefits to Members as a Cooperative Enterprise

2009-90

October 15, 2009

IRS Announces Inflation Adjustments for Low-Cost Articles and Insubstantial Benefits for 2010

2009-89

October 13, 2009

Senate Finance Committee Health Care Reform Bill Contains Some, Not All, Projected Exempt Organization Provisions

2009-88

September 30, 2009

IRS Updates the Rules for Determining Substantiation of Employee Lodging, Meals, and Incidental Expenses

2009-87

September 28, 2009

Form 990 Filing Tips: FAQs Concerning Attachments

2009-86

September 28, 2009

IRS Q&A Guidance on Rollovers From Employer Plans to Roth IRAs

2009-85

September 24, 2009

IRS Guidance on 2009 Required Minimum Distribution Waiver

2009-84

September 23, 2009

Proposed Regulations on Type III Supporting Organizations

2009-83

September 22, 2009

Senator Grassley’s Proposals Include Repeal of Rebuttable Presumption

2009-82

September 21, 2009

IRS Extends Deadline for Taxpayers with Unreported Offshore Income to Participate in Voluntary Disclosure Initiative to October 15

2009-81

September 18, 2009

Federal District Court Finds Foundation Does Not Qualify as Supporting Organization

2009-80

September 17, 2009

Senator Grassley Expresses Support for Proposals Concerning Nonprofit Hospitals in Health Care Reform Legislation

2009-79

September 16, 2009

Senate Finance Chairman’s Health Care Reform Proposal Includes “Community Needs” Assessment for Nonprofit Hospitals

2009-78

September 11, 2009

FASB Reduces Nonpublic Entities’ Disclosures for Uncertainty in Income Taxes

2009-77

September 10, 2009

Reminder: Tax Provisions Concerning Exempt Organizations Scheduled to Expire in 2009

2009-76

September 9, 2009

Framework of Senators' Health Care Reform Plan

2009-75

September 9, 2009

IRS Releases Draft 2009 Form 990

2009-74

September 8, 2009

Text of Technical Guidance Concerning IRS’s Savings Initiative, Individual Taxpayers’ Retirement

2009-73

September 8, 2009

Final Regulations Concerning Employer Comparable Contributions to HSAs Under Section 4980G, and Requirement of Return for Filing of the Excise Tax Under Section 4980B, 4980D, 4980E or 4980G

2009-72

September 8, 2009

Final Regulations on Reasonable Good Faith Interpretation of Required Minimum Distribution Rules by Governmental Plans

2009-71

September 3, 2009

IRS Filing Tips for Reporting Foreign Activities on Form 990

2009-70

August 31, 2009

IRS Updates Guidance for Electronically Filing Form 1042-S, Foreign Person’s U.S. Source Income Subject to Withholding

2009-69

August 28, 2009

IRS Responds to Taxpayer Advocacy Panel’s Recommendations to Simplify Filing Requirements for Small Private Foundations

2009-68

August 24, 2009

Minnesota Supreme Court Holds Nonprofit Organization Is Not Exempt From Real Estate Tax

2009-67

August 12, 2009

IRS Updates FAQ Concerning Entities That Are Ineligible to File an e-Postcard

2009-66

August 10, 2009

IRS Issues New Procedures for Section 509(a)(3) Supporting Organizations to Change Public Charity Classification

2009-65

August 10, 2009

Bill Would Modify the UBTI Treatment of Income from Oil and Gas Investments

2009-64

August 7, 2009

IRS Provides More Time for Certain Persons to Comply with FBAR Filing Requirements (Form TD F 90-22.1) with Respect to Foreign Financial Accounts

2009-63

August 7, 2009

IRS Posts Tips on Reporting Related-Organization Information on Form 990

2009-62

August 6, 2009

Proposed Legislation Would Exempt from UBIT Certain Income Earned by Leveraged Partnerships

2009-61

August 5, 2009

Congressional Research Service Issues Report on Tax Proposals for Financing Healthcare Reform

2009-60

August 3, 2009

Proposed Regulations Relating to Church Tax Audits

2009-59

August 3, 2009

Section 501(c)(3) Trust Liable for UBIT on Securities Purchased on Margin

2009-58

July 27, 2009

IRS Internal Training Materials on EO Governance

2009-57

July 23, 2009

Court of Federal Claims Holds Religious Organization Is Not a Church

2009-56

July 22, 2009

Final Regulations Provide Notification Rules for Exempt Organizations Not Required to File Annual Information Return

2009-55

July 16, 2009

Federal District Court Denies Government’s Motion to Overturn Jury Verdict That Credit Union Insurance Income Was Not UBTI

2009-54

July 13, 2009

Court of Federal Claims Holds Section 501(c)(3) Trust Is Liable for UBIT on Securities Purchased on Margin

2009-53

July 10, 2009

FASB to Consider Application of FIN 48 for Tax-Exempt Not-for-Profit Entities

2009-52

June 30, 2009

IRS Guidance Provides Reliance Criteria for Supporting Organizations and Donor-Advised Funds

2009-51

June 25, 2009

IRS Update of FAQs on Voluntary Disclosure Initiative Does Not Extend June 30, 2009 Filing Deadline for 2008 FBAR, but Addresses Late-Filed 2008 FBAR

2009-50

June 25, 2009

New IRS TE/GE Commissioner Discusses Perspectives on Tax-Exempt Governance

2009-49

June 23, 2009

IRS Removes Obsolete Guidance Documents Under Section 403(b)

2009-48

June 12, 2009

Eighth Circuit Reverses Mayo Decision, and Upholds Regulations Restricting Student FICA Exception

2009-47

June 10, 2009

IRS Advisory Committee on Tax-Exempt and Government Entities Releases Annual General Report

2009-46

June 5, 2009

IRS Intends to Simplify Procedures for Employers to Substantiate Employee’s Business Use of Employer-Provided Cell Phones

2009-45

June 4, 2009

Federal District Court Awards Attorneys’ Fees to Institutions in Medical Resident FICA Refund Litigation

2009-44

June 3, 2009

CRS Report Examines “Extenders” Scheduled to Expire

2009-43

May 29, 2009

IRS “Tips” for Reporting Governance Policies and Procedures Concerning Form 990; New Publication on Terminations and Mergers of Tax-Exempt Organizations

2009-42

May 21, 2009

Federal District Court Rejects IRS’s Tax Treatment of Credit Union’s Insurance Sales

2009-41

May 21, 2009

Report Shows Six Organizations Lost Tax-Exempt Status Following IRS Political Activities Campaign Initiative

2009-40

May 21, 2009

FASB Proposal to Reduce Interpretation 48 Disclosures and Add Guidance for Nonpublic Entities, Including Tax-Exempt Entities

2009-39

May 21, 2009

Follow-Up Report: Senate Finance Document Contains Proposals of Special Concern to Nonprofit Hospitals and Schools

2009-38

May 20, 2009

CBO Paper Examines Tax Preferences for College Sports

2009-37

May 18, 2009

Finance Committee Releases Health Care Revenue Options

2009-36

May 15, 2009

Inflation Adjustments for HSAs for Calendar Year 2010

2009-35

May 15, 2009

IRS Provides Withholding Adjustment Options for Pension Plans

2009-34

May 12, 2009

Obama Administration’s FY2010 Tax Proposals

2009-33

May 8, 2009

JCT Report on Health Care Financing Includes Evaluation of Exemption for Tax-Exempt Hospitals

2009-32

May 1, 2009

IRS Provides Tips for Reporting Executive Compensation on Form 990

2009-31

April 24, 2009

IRS Provides Tips for Completing New Form 990

2009-30

April 20, 2009

New Leader to Head the IRS Tax Exempt and Government Entities Division

2009-29

April 16, 2009

FASB Considers Application of FIN 48 for Tax-Exempt Not-for-Profit Entities

2009-28

April 15, 2009

Draft Revenue Procedure Contains Proposed Pre-Approval Guidelines for Prototype Plans Under Section 403(b)

2009-27

April 14, 2009

IRS May Impose Penalties for Failure to Report Required Information on Form 990

2009-26

April 14, 2009

IRS Includes Abuse of Exempt Organizations in List of “Dirty Dozen Tax Scams” for 2009

2009-25

April 10, 2009

IRS Requests Comments on Form 990, EO Web site, and Academic Program Initiative

2009-24

April 9, 2009

IRS EO Director’s Comments on IRS Oversight Programs

2009-23

April 3, 2009

IRS Releases Guidance Under the Build America Bond Program and Other Bond Programs

2009-22

April 1, 2009

IRS Guidance on Premium Assistance for COBRA Continuation Coverage

2009-21

March 27, 2009

IRS Modifies Amounts of Transportation Fringe Benefit Exclusion and Election to Expense Certain Depreciable Assets for 2009

2009-20

March 25, 2009

Second Circuit Joins Other Circuit Courts in Finding Student FICA Exemption Is Not Per Se Inapplicable to Medical Residents

2009-19

March 20, 2009

Congressional Research Service Issues Report on Education Tax Benefits

2009-18

March 18, 2009

IRS Revokes Tax Exemption of Religious Concert Promoter

2009-17

February 27, 2009

Obama’s Budget Outline Includes Revenue Items That Would Limit Certain Itemized Deductions and Retain the 2009 Estate Tax Rate and Exemption Amount

2009-16

February 26, 2009

Sixth Circuit: Student FICA Exemption Not Per Se Inapplicable to Medical Residents

2009-15

February 26, 2009

IRS Guidance for Employers to Use to Claim Credit for COBRA Premiums Paid for Former Employees

2009-14

February 25, 2009

IRS Finds Section 501(c)(3) Organization Intervened in Political Campaign Through Its Web site

2009-13

February 23, 2009

IRS Provides New Withholding Tables Reflecting Application of “Making Work Pay” Tax Credit

2009-12

February 23, 2009

Final Regulations Concerning Qualified Automatic Contribution Arrangements

2009-11

February 17, 2009

Description of Tax Provisions in The American Recovery and Reinvestment Act of 2009

2009-10

February 13, 2009

Statutory Language of Tax Provisions in Conference Agreement to H.R. 1, Statement of Managers, and Revenue Estimate

2009-09

February 12, 2009

IRS Releases Final Report on Hospital Community Benefit and Compensation

2009-08

February 10, 2009

Side-by-Side Comparison of Senate and House Versions of Economic Stimulus Legislation

2009-07

February 6, 2009

Senate Finance Committee Members Propose Amendments Concerning Tax-Exempt Hospitals

2009-06

January 28, 2009

IRS Initiates Project to Evaluate Post-Issuance Compliance by Governmental Issuers of Tax-Exempt Bonds

2009-05

January 27, 2009

Senator Grassley Encourages Colleges and Universities to Increase Student Aid

2009-04

January 21, 2009

White House Freezes Regulatory Approvals, Publications

2009-03

January 15, 2009

IRS Commissioner (TE/GE) Miller Discusses Community Benefit Standard, Hospital Study Report

2009-02

January 13, 2009

U.S. Supreme Court Declines Review of Vision Service Plan Exemption Revocation

2009-01

January 5, 2009

Final 2008 Form 990 and Form 990-EZ Are Now Available

© 2009 KPMG LLP, the U.S. member firm of KPMG International, a Swiss cooperative. All rights reserved.

Privacy | Legal