![]() ![]() Set forth below is a description of the IRS changes that should prompt a charity that is organized or doing business in California to review California law governing the subject of those changes. While that is a good thing, the forms and the instructions for them may mislead charities concerning independent state regulatory requirements, which are far more comprehensive and detailed than federal standards for maintenance of tax-exempt status. The forms ask for new information that will allow the IRS to better assess a nonprofit’s tax-exempt status. For the 2008 tax year, the Internal Revenue Service has revised IRS Forms 990 and 990-EZ, its informational returns for nonprofit organizations. ![]()
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