Write-Offs

March 22, 2007 | Read Time: 1 minute

The Internal Revenue Service is seeking comment from the charitable world on donor-advised funds and supporting organizations as part of a study it is conducting at the request of Congress. The tax agency wants to know the advantages and disadvantages of the two types of organizations, compared with private foundations and other charitable-giving arrangements. Comments must be submitted by April 9 to: Internal Revenue Service, P.O. Box 7604, Ben Franklin Station, Washington, D.C. 20044, Attn: CC:PA:LPD:PR, Room 5203. Comments may be e-mailed to Notice.Comments@irscounsel.treas.gov.
The IRS says it has temporarily stopped reclassifying charitable organizations as a new type of charity known as a “functionally integrated” supporting organization. The new category was created in August by the Pension Protection Act. The tax agency says it will begin allowing groups to apply for the reclassification once it has issued guidelines explaining the new category. The notice is available online.