Write-Offs

October 2, 2008 | Read Time: 1 minute

The Internal Revenue Service is sponsoring a Webcast on November 4 to explain important changes in the revised Form 990 for the 2008 tax year for people who prepare the form. The presentation will include tax experts, including IRS officials Ronald J. Schultz, a senior adviser to the commissioner of the IRS’s Tax Exempt and Government Entities Division, and Stephen Clarke, a tax-law specialist. For information, go to http://www.taxtalktoday.com.
The IRS has released a 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 tax agency’s to-do list for nonprofit groups are issuing proposed rules on excise taxes for people who improperly benefit from donor-advised funds and releasing final regulations on penalties for organizations that participate in prohibited tax-shelter transactions.