Posts Tagged: Tax Compliance

Colleges and Universities Take Note: IRS Compliance Check Leads to Congressional Scrutiny

Colleges and universities take heed. In late April, the IRS issued its Final Report of the Colleges and Universities Compliance Project (the version linked here includes the May 2 revisions), and Congress members are taking note. Whether you are a college or university (or another organization in the tax-exempt sector), if you are not taking a systemic look at your operations and compliance practices, the IRS report makes clear that now is the opportune time.

Under Scrutiny: The IRS Is Taking a Closer Look at 501(c)(4), 501(c)(5), and 501(c)(6) Organizations

If you are a nonprofit organization that recently received this nine-page questionnaire from the IRS (IRS Form 14449), there’s no need to panic, but it may be a good time to reconnect with nonprofit legal counsel. The questionnaire is not an audit and receiving it does not mean that the IRS believes that your organization has done something wrong.

Nobody is Perfect – How to Handle an IRS Revocation Notice

First of all – do not panic. Second of all – you are not alone, so don’t feel so bad. At first count, there were over 275,000 organizations in a similar situation (and the IRS determined on a recount that there are actually thousands more).