On July 2, the IRS released its Exempt Organization Newsletter, Issue Number 2015-8.
- IRS, industry, states take new steps together to fight identity theft, protect taxpayers
- IRS Nationwide Tax Forums begin in July
- Register for IRS webinar: 501(c)(7) Social Clubs: How to get and keep tax-exempt status
- Hurricane season underway: IRS reminds taxpayers to safeguard their tax records
- Recent revocations
- Register for EO workshops
1. IRS, industry, states take new steps together to fight identity theft, protect taxpayers
The IRS joined recently with representatives of tax preparation and software firms, payroll and tax financial product processors and state tax administrators to announce a sweeping new collaborative effort to combat identity theft refund fraud and protect the nation’s taxpayers.
2. IRS Nationwide Tax Forums begin in July
Employee Plans and Exempt Organizations will participate in the IRS Nationwide Tax Forums in five cities starting in July. The forums provide three days of seminars and workshops featuring speakers from both the IRS and tax practitioner organizations. In addition to getting the latest tax information, tax professionals can earn continuing education credits for attending.
This year, Employee Plans will present one seminar, “SEPs and SIMPLEs – Avoiding Pitfalls.” This seminar will discuss how to adopt and operate a SEP and SIMPLE IRA plan. These plans offer a simple way for businesses to help employees get started saving for retirement.
Employee Plans will discuss:
- SEP and SIMPLE saving options and limits
- Using the right compensation to calculate the correct contribution
- Determining when employees participate in the plan
- Employees of related employers
- Common errors we find on SEP and SIMPLE audits
- Steps to take each year to keep your plan headed down the right path
Exempt Organizations will once again present multiple sessions of its Exempt Organization Workshop on the Form 990, Return of Organization Exempt from Income Tax. This workshop will cover filing basics and will also discuss unique aspects of the form, such as how to report the activities that form the basis for an organization’s continued exemption. The session will also explore the consequences of the most common Form 990 errors and how to avoid them.
The dates and locations of this year’s forums are:
IRS Nationwide Tax Forums 2015 Locations and Dates
- National Harbor, Maryland (DC) July 7-9
- Denver, Colorado July 28-30
- San Diego, California August 11-13
- Atlanta, Georgia August 25-27
- Orlando, Florida September 1-3
3. Register for IRS webinar: 501(c)(7) Social Clubs: How to get and keep tax-exempt status
2 p.m. to 3 p.m., Thursday, July 16
- Requirements a 501(c)(7) organization must meet
- Types of social club organizations
- How to obtain and maintain tax-exempt status
- Unique aspects that make 501(c)(7) organizations different from other tax-exempt organizations
Remember, if you hear something during the presentation that prompts a question, simply click on the “Ask a Question” link on your screen. Your questions will help us determine future topics as well as making sure we have updated information on IRS.gov.
4. Hurricane season underway: IRS reminds taxpayers to safeguard their tax records
Hurricane season started June 1 and the IRS advises individuals and businesses to safeguard their records against natural disasters by taking a few simple steps.
Other helpful links:
- Look to the IRS for tax help in the event of a disaster
- Top 10 tips for deducting losses from a disaster
5. Recent revocations
For the latest list, go to Revocations of 501(c)(3) Determinations.
6. Register for EO workshops
Register for our upcoming workshops for small and medium-sized 501(c)(3) organizations. Remember to check this page periodically for new workshops being planned in a town near you.