Tax Agency Outlines Its Priorities Through June 2009

The Internal Revenue Service has released its list of 314 projects that it plans to complete before the end of June 2009, including 11 items that would directly affect tax-exempt organizations.

Included in the agency’s to-do list for nonprofit groups are finalizing the regulations for the new Form 990, proposed rules and penalties for donor-advised funds, and new disclosure requirements for tax-exempt organizations that participate in tax shelters.