Jenny Robertson

The IRS has recently solicited comments on Publication 1075, "Tax Information Security Guidelines for Federal, State, and Local Agencies." Comments are due by April 5, 2010. Publication 1075 relates to Internal Revenue Code section 6103(p), which requi... Read More

The IRS has recently solicited comments on final regulations that require tax practitioners and advisors to provide adequate information to taxpayers regarding the limits of tax shelter advice. Comments are due by April 5, 2010. See also 2010 TNT 24-29... Read More

The IRS has recently solicited comments on Rev. Proc. 2007-52, which provides guidance to nonprofit organizations seeking tax-exempt status under Internal Revenue Code section 501(c). Comments are due by April 5, 2010. See 2010 TNT 24-33, February 4, 2... Read More

The IRS has recently requested comments on Form 8038-TC, "Information Return for Tax Credit Bonds." Comments must be recceived by April 5, 2010. Form 8038-TC is to be used as an informational return by issuers of qualified tax-exempt credit bonds,... Read More

The IRS has recently requested comments on Form 1024, the application for recognition of tax-exempt status under Internal Revenue Code section 501(a). Comments must be received by April 5, 2010. See 2010 TNT 24-65, February 4, 2010. Posted by Jenny... Read More

The IRS has recently requested comments on Form 8038-B, the informational return for Build America Bonds and Recovery Zone Economic Development Bonds. Both bonds were enacted under the American Recovery and Reinvestment Act of 2009. Comments must be re... Read More

In Announcement 2010-5, the IRS corrected an erroneous internal cross-reference contained in Rev. Proc. 2010-1. Rev. Proc. 2010-1 applies to exempt organizations and contains procedures for issuing ruling letters, determination letters, and inform... Read More

In TAM 201005061, the IRS ruled that a trade association organized in the interest of a specific sport and exempt from taxation under Internal Revenue Code section 501(c)(6) would not lose its exempt status due to a public sale of... Read More

In PLR 201005054, the IRS ruled that set-asides for a redeveloptment project made by a private operating foundation exempt from taxation under Internal Revenue Code sections 4942(j)(3) and 4940(d)(1) were qualifying distributions and satisfied the suit... Read More

In PLR 201005060, the IRS revoked the tax-exempt status of a credit counseling organization. The IRS found that the organization was operated for the private benefit of a related organization and that the credit counseling organization had the sub... Read More

Family Business Magazine and Stetson University's Family Enterprise Center are joining together to present a new joint, "Transitions: The Changing Environment for Family Companies," to be held April 15-16 at the Celebration Hotel in Celebration, Florid... Read More

Senate Majority Leader Harry Reid (D-Nev) has introduced his own jobs creation bill, moving forward only some of the provisions provided in the bipartisan job legislation proposed by Senate Finance Committee Chair Max Baucus (D-Mont) and Chuck Grassley... Read More

In a recent report to Congress, the Government Accountability Office (GOA) stated that the IRS needs to improve the implementation and enforcement of the tax provisions contained in the American Reinvestment and Recovery Act of 2009. According to the G... Read More

In a letter to the Chief of IRS Appeals Office Diane Ryan, attorney Marcus Owens of Caplin & Drysdale criticized the Appeals Office for denying a request to seek Technical Advice regarding whether debt management programs conducted by credit counse... Read More

In PLR 201007064, the IRS ruled that a private organization did not engage in self-dealing upon the transfer of assets to a separate private organization. The transfer of assets was due to a settlement agreement reached between certain members and... Read More

In a letter dated February 23, members of Clergy VOICE requested that IRS Commissioner Shulman investigate possible tax abuses by the C Street Center in Washington, DC. The C Street Center is classified as a church for federal tax purposes and... Read More

The IRS recently solicited public comments on Treasury Regulation section 1.457-8, which concerns the eligible deferred compensation plans offered by state and local governments under Internal Revenue Code section 457. Comments are due by April 27, 201... Read More

In a recent letter to IRS Commissioner Douglas Shulman, the American Hospital Association wrote that Schedule H of Form 990, which is used by nonprofit hospitals to report their community benefit activities, does not accurately reflect the activities o... Read More