
TaxNewsFlash-Exempt Organizations — KPMG's reports of tax developments concerning U.S. exempt organizations
To subscribe to TaxNewsFlash, fill out the subscription form
>> Return to the TaxNewsFlash U.S. homepage
>> Go to the TaxNewsFlash "global" homepage
New tax law in United States
Read KPMG's report about provisions in the new tax law of particular interest to exempt organizations and their donors
Tax reform: Issues for exempt organizations (Pub. L. 115-97) [PDF 316 KB]
Feb 28 - IRS updates Form W-4, “withholding calculator” to reflect tax law changes
Feb 15 - Bipartisan Budget Act revives exempt organization provisions dropped during tax reform process
Feb 8 - IRS guidance projects for exempt organizations, second quarter 2018
Feb 6 - IRS release: New tax law, no changes to pension plan cost-of-living adjustments for 2018
Feb 2 - KPMG report: Tax reform: Issues for exempt organizations (Pub. L. 115-97)
Jan 29 - FAQs recharacterization of Roth IRA contributions under new tax law
Jan 29 - Notice 2018-14: Withholding tax guidance, implementing new income tax law
Jan 24 - Rev. Proc. 2018-10: New procedures for section 501(c)(4) applicants
Jan 11 - IRS releases updated 2018 withholding tables, implementing new tax law changes
Jan 9 - Rev. Rul. 2018-04: Revised covered compensation tables for 2018 plan year
Jan 5 - Annual revenue procedures for 2018, changes for exempt organizations
Dec 22 - FBAR filings: Deadline extended for certain individuals with signature authority
Dec 22 - Notice 2018-06: IRS extends health coverage form deadline for employers, providers
Dec 22 - President signs tax bill into law
Dec 21 - U.S. Tax Court: Fees for services provided by third-party vendors subject to UBIT
Dec 20 - Tax reform for tax-exempt organizations and donors
Dec 18 - IRS reminder: Deadlines for W-2, W-3 and Form 1099-MISC; Form 1098-T reporting changes
Dec 14 - Notice 2018-03: Standard mileage rates, increases for 2018
Dec 6 - KPMG report: Tax reform for tax-exempt organizations and donors
Dec 4 - Notice 2017-73: Approach of future guidance for donor advised funds
Oct 20 - IRS priority guidance plan 2017-2018—Exempt organization projects
Oct 19 - Rev. Proc. 2017-58: Inflation adjustments for 2018
Oct 19 - Notice 2017-64: Pension plans, cost-of-living adjustments for 2018
Oct 19 - Proposed regulations withdrawn; definition of “political subdivision” for tax-exempt bonds
Oct 13 - IRS relief, taxpayers affected by California wildfires
Oct 13 - IRS TE/GE division’s FY 2018 work plan
Oct 10 - Rev. Procs. 2017-56, 2017-57: Changes to defined benefit plan funding method
Oct 10 - U.S. Tax Court: Interest on deficiency when tax-exempt status is revoked
Oct 10 - U.S. Tax Court: No charitable contribution deduction for facade easement, not “in perpetuity”
Oct 6 - Notice 2017-62: Employer leave-based donation programs to aid Hurricane Maria victims
Oct 2 - Puerto Rico: Tax authority’s guidance on tax deadlines, following hurricanes
Sep 29 - IRS releases draft Form 1024-A; new section 501(c)(4) application form
Sep 19 - IRS provides hurricane-related tax relief for taxpayers in Georgia
Sep 18 - Proposed regulations: Truncated TINs for wage and tax statements furnished to employees
Sep 14 - Rev. Proc. 2017-53: Equivalency determinations for foreign grantmaking
Sep 14 - KPMG report: Tax relief available for businesses affected by Hurricane Irma
Sep 14 - Notice 2017-52: Employer leave-based donation programs to aid Hurricane Irma victims
Sep 12 - IRS provides tax relief for taxpayers affected by Hurricane Irma
Sep 12 - IRS allows retirement plan loans, hardship distributions relating to Hurricane Irma
Sep 5 - KPMG report: Disaster relief; tax implications when employers help employees
Sep 1 - KPMG report: Tax relief available for businesses affected by Hurricane Harvey
Aug 30 - IRS announces retirement plan loans, hardship distributions to hurricane victims
Aug 28 - IRS provides tax relief, taxpayers in 18 Texas counties affected by Hurricane Harvey
Aug 25 - Rev. Proc. 2017-50: Time for filing claims for recovery of overpayments of arbitrage rebate extended
Aug 11 - FAQs: IRS Appeals conferences, attendance by IRS Compliance personnel
Feb 23 - IRS reminder to universities; Forms 1042-S for international students, scholars
Feb 22 - Form 1023-EZ application data now available online
Feb 8 - New organizing document review procedures for TE/GE examinations
Feb 7 - Rev. Rul. 2017-05: Covered compensation tables for 2017 plan year
Feb 3 - IRS warns schools, hospitals, others of “W-2 phishing scam”
Nov 29 - Possible tax law changes in healthcare reform
Nov 22 - Proposed regulations: Fractions rule, partnerships with qualified tax-exempt organization partners
Nov 21 - New IDR management process for TE/GE agents
Nov 18 - Notice 2016-70: Extension of information reporting concerning ACA health insurance coverage
Nov 17 - Announcement 2016-42: Penalty relief for Forms 1098-T, extended to 2017 forms
Nov 10 - Notice 2016-69: Employer leave-based donation programs, Hurricane Matthew relief
Nov 4 - Notice 2016-64: Self-insured health insurance annual fee
Oct 28 - IRS reminder: Copies of Forms W-2 are due January 31
Oct 27 - Form 990, Schedule L: Relief from disclosure of substantial contributors
Oct 27 - Notice 2016-62: Pension plans, cost-of-living adjustments for 2017
Oct 25 - Rev. Proc. 2016-55: Inflation adjustments for 2017
Oct 7 - KPMG report: Not-for-profit’s presentation of financial statements
Sep 30 - IRS TE/GE division’s FY 2017 work plan
Sep 16 - Notice 2016-55: Employer leave-based donation programs, Louisiana storms relief
Sep 13 - Potential penalty relief for organizations unable to file Form 8976 due to system outages
Sep 1 - KPMG report: Notification requirements for social welfare organizations
Aug 31 - Final regulations: Defining “married couples” for tax purposes
Aug 24 - Rev. Proc. 2016-47: Waiver of 60-day rollover requirement for retirement plans, IRAs
Aug 22 - IRS priority guidance plan 2016-2017—Exempt organization projects
Aug 19 - FASB changes presentation of not-for-profit financial statements
Aug 17 - Sixth Circuit: Interest rate, FICA refund to nonprofit hospital center
Aug 17 - Regulations: 2% tax on payments of U.S. government to foreign persons
Aug 5 - D.C. Circuit: Equitable claims in tax-exempt application cases vacated, remanded
Jun 21 - Proposed regulations: Section 457 deferred compensation plans, state and local governments
Jun 16 - Electronically filed Form 990 data, available in machine-readable format
Jun 14 - House passes bill limiting collection of donor information by IRS
Jun 14 - IRS practice units: Treatment of scholarships for nonresident aliens
Jun 9 - IRS to launch machine-readable Form 990 data, June 15
Jun 8 - IRS focus on 403(b) plans; “universal availability” requirement
Jun 6 - KPMG report: Effects of proposed section 103 regulations on “dirt bonds”
Apr 28 - Rev. Proc. 2016-28: HSA inflation-adjusted amounts for 2017
Apr 27 - IRS penalty relief concerning Forms 1098-T, Tuition Statement
Apr 25 - IRS adverse determination: Non-MSSP accountable care organization denied exemption
Apr 21 - Final regulations adopt examples of private foundation program-related investments
Apr 21 - Senate Finance approves bill containing provisions affecting tax-exempt organizations
Mar 14 - JCT “bluebook” explains tax legislation enacted in 2015
Mar 14 - KPMG report: Form 1098-T, reporting educational tax credits
Mar 14 - KPMG report: Tax-exempt bond allocations; discussion of final regulations
Mar 11 - IRS model closing agreements, tax-exempt bond compliance
Mar 7 - Notice 2016-22: Transition relief, work opportunity tax credit (WOTC)
© 2018 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.