Priority Guidance Plan - 2006-2007 |
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The joint Department of Treasury/Internal Revenue Service priority guidance plan for 2006-2007 contains the following items of interest to tax-exempt organizations:
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Guidance on political activities by section 501(c) (3) organizations
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Update Revenue Procedure 90-27 on processing exemption applications
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Final regulations under Internal Revenue Code sections 501(c) (3) and 4958 on revocation standards ( proposed regulations were published on September 9, 2005)
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Guidance on supporting organizations under section 509(a) (3)
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Guidance on advance and definitive rulings for organizations treated as publicly supported organizations
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Guidance on the authority, under section 527(l), to waive taxes and amounts imposed on political organizations for failures to comply with notice and reporting requirements
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Regulations regarding qualified tuition programs under section 529
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Guidance under 2005 legislation regarding the involvement of accommodation parties in tax shelter transactions
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Guidance regarding the limitation on deductions, in section 470, allowed with respect to property held by partnerships and other pass-through entities having as an owner a tax-exempt entity within the meaning of section 168(h)(2)
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Modify Revenue Procedure 2005-66 to reflect special determination letter procedures for governmental and tax-exempt employers
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Page Last Reviewed or Updated: January 06, 2009