The IRS today released an advance version of Rev. Proc. 2018-38 to modify the information to be reported to the IRS by organizations exempt from tax under section 501(a) (other than section 501(c)(3) organizations) that are required to file an annual Form 990 or Form 990-EZ information return.
Rev. Proc. 2018-38 [PDF 25 KB] states that these section 501(a) organizations are no longer required to report the names and addresses of their contributors on the Schedule B of their Forms 990 or 990-EZ. These organizations, however, must continue to collect and keep this information in their books and records and to make it available to the IRS upon request, when needed for tax administration.
This revenue procedure provides that:
Rev. Proc. 2018-38 specifically provides that:
The revised reporting requirements will apply to information returns for tax years ending on or after December 31, 2018. The revised reporting requirements generally will apply to returns that become due on or after May 15, 2019.
Read a related Treasury Department release
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