May 29, 2008 | Read Time: 1 minute
The IRS has updated its guidelines that explain how charities must make public their filings of the Form 990-T, which lists business activities not directly related to a charity’s mission.
As part of the Pension Protection Act of 2006, charities that file the Form 990-T must now disclose their returns to the public.
In Notice 2008-49, the IRS clarifies the rules behind this requirement. Most notably, the guidelines say nonprofit groups must make the returns available for three years after their filing date. The requirement applies to all Forms 990-T filed after August 17, 2006.
The IRS’s guidelines also state that charities do not have to provide supporting documents and attachments that do not relate to the imposition of unrelated-business income tax.
