October 31, 2007

IRS Announces Priority Guidance Plan for 2007-2008

IRS has announced its priority issues for the next year, which include several topics related to nonprofits: forthcoming regulations on the new Form 990, the e-Postcard, new requirements for supporting organizations under the Pension Protection Act of 2006, and revocation standards for nonprofits that engage in excess benefit transactions. A full listing of the 2008 IRS agenda is available on their website.

ALSO: Hearing to Examine Whether Charitable Organizations Serve the Needs of Diverse Communities The U.S. House Ways and Means Subcommittee on Oversight explored the extent to which nonprofits are adequately serving diverse communities at a hearing held on September 24, 2007. Witnesses offered examples of their organizations' efforts, while also acknowledging that nonprofit services aren't sufficient to fill many community needs. Testimony will be transcribed and available for review on the House Ways and Means Subcommittee on Oversight website.