Exempt Organization Update

Useful Links:

IRS.gov

Charities and Nonprofits
Homepage

EO FAQs

EO Forms and Publications

EO Newsletter

Life Cycle

Upcoming Events:

EO Calendar of Events

IRS Resources

Compliance & Enforcement

Contact My Local Office

e-file

Forms & Pubs

Frequently Asked Questions

News

Taxpayer Advocacy

Where to File

Issue Number: 2012-19

Inside This Issue

1. IRS gives extra time to small, automatically-revoked organizations hit by Hurricane Sandy
2. Retirement plans can make loans, hardship distributions to Sandy victims
3. IRS warns consumers of possible scams relating to
   Hurricane Sandy relief
4. Employers hiring veterans by year’s end may get expanded tax credit
5. Priority Guidance Plan released
6. Register for upcoming workshops for small and medium-sized
   charities in Virginia and Arkansas
7. EO Update editorial content is not copyrighted; all articles may be reused in your organization publications

The IRS is allowing small tax-exempt organizations affected by Hurricane Sandy until February 1, 2013, to apply for reinstatement of their exempt status and seek transitional relief. News Release IR-2012-96.

To be eligible for the postponed deadline, described in Notice 2012-71, the organization’s principal place of business must be located in the covered disaster area, or records necessary to meet the application deadline must be maintained in the covered disaster area. Organizations located outside the affected areas must still apply for transitional relief by December 31, 2012.

More information on organizations impacted by Hurricane  Sandy can be found at Automatic Revocation of Exemption or Automatic Revocation of Exemption List.

To check for future announcements, visit EO - Disaster Relief Resources for Charities and Contributors and Help for Victims of Hurricane Sandy.

Back to Top

As part of the administration’s efforts to bring all available resources to bear to support state and local partners impacted by Hurricane Sandy, the Internal Revenue Service announced November 16 that 401(k)s and similar employer-sponsored retirement plans can make loans and hardship distributions to victims of Hurricane Sandy and members of their families. Read News Release IR-2012-93.

For more information, read Announcement 2012-44.

Back to Top

Following major disasters, it’s common for scam artists to impersonate charities to get money or private information from well-intentioned taxpayers. Such fraudulent schemes may involve contact by telephone, social media, email or in-person solicitations.

The IRS cautions both hurricane victims and people wishing to make disaster-related charitable donations to avoid scam artists by following these tips.

Back to Top

Employers planning to claim an expanded tax credit for hiring certain veterans should act soon, according to the IRS. Many businesses may qualify to receive thousands of dollars through the Work Opportunity Tax Credit, but only if the veteran begins work before the new year.

Read about the key facts of the WOTC as expanded by VOW to Hire Heroes Act of 2011

Back to Top

The Treasury Department's Office of Tax Policy and IRS use the Guidance Priority List each year to identify and prioritize the tax issues that should be addressed through regulations, revenue rulings, revenue procedures, notices, and other published administrative guidance. The Guidance Priority List focuses resources on guidance items that are most important to taxpayers and tax administration. Published guidance plays an important role in increasing voluntary compliance by helping to clarify ambiguous areas of the tax law.

Back to Top

Take a moment to register for one of our upcoming workshops for small and medium-sized 501(c)(3) organizations.  Each one-day workshop, presented by experienced Exempt Organizations specialists, will explain what 501(c)(3) organizations must do to keep their tax-exempt status and comply with tax obligations.

The full-day workshops are hosted by Virginia Tech and University of Arkansas at Little Rock in their respective states. The workshops are approved by the IRS for six continuing education credits for Enrolled Agents and Registered Tax Return Preparers.

This popular introductory workshop is especially designed for administrators or volunteers who are responsible for an organization's tax compliance as well as tax professionals who work with the organizations.

Registration is now available for the following workshop dates and locations:

• December 4 – Little Rock, AR
• December 5 – Little Rock, AR
• December 5 – Arlington, VA
• January 10 – Portsmouth, VA
• January 11 – Richmond, VA

Back to Top

The EO Update contains valuable information for all charities and other non-profits.  But did you know that since this publication is a work of the U.S. Government, it is not subject to U.S. copyright protection?

All of the articles contained in this publication are in the public domain and may be used by anyone, anywhere, anytime without permission, license or royalty payment.
 
IRS Exempt Organizations encourages readers to reuse these articles in their own organization publications and websites and thereby help disseminate the information beyond the scope of EO Update’s subscribers.

Back to Top

If you have a technical or procedural question relating to Exempt Organizations, visit the Charities and Nonprofits homepage on the IRS.gov Web site.