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Internal Revenue Service › Regulatory Requirements › Tax Exempt Entities

The United States Internal Revenue Service is a bureau of the United States Department of the Treasury. The IRS is charged with collecting revenue and enforcing the Internal Revenue Code.  
Lathrop GPM

Is Your Environmental Nonprofit At Risk for Tax-Exempt Status Revocation by the President?

Lathrop GPM on

Recent press reports speculating that President Trump will take action to revoke the tax-exempt status of some environmental organizations – coupled with his public statements advocating for the revocation of Harvard’s...more

Sheppard Mullin Richter & Hampton LLP

IRS Audits & Ongoing Scrutiny of Nonprofit Hospitals – Key Background & Action Steps

Sheppard Mullin Richter & Hampton LLP on

The IRS is underway with conducting audits of 35 §501(c)(3) hospitals, which it announced in June 2024, with a particular focus on “community benefit.” Targeted hospitals appear to be those who reported low community benefit...more

Latham & Watkins LLP

7 Steps for Success After Forming a Section 501(c)(3) Organization

Latham & Watkins LLP on

Section 501(c)(3) status comes with a number of operational and compliance requirements that must be followed in order to maintain federal income tax exemption. This guide highlights key Section 501(c)(3) requirements that...more

Latham & Watkins LLP

7 Important Considerations Before Forming a Section 501(c)(3) Organization

Latham & Watkins LLP on

Parties interested in forming a Section 501(c)(3) nonprofit entity face a number of compliance burdens - Although Section 501(c)(3) status can be the right fit for many organizations, it also comes with a number of...more

Seyfarth Shaw LLP

Fix a Decade of Document Errors? Yes You Can!

Seyfarth Shaw LLP on

Seyfarth Synopsis: In two months (on March 31, 2020), the window closes for 403(b) plan sponsors to take advantage of the unique opportunity to retroactively amend their 403(b) retirement plans to correct document errors...more

Burr & Forman

With Limited IRS Extension, Plan Sponsors Should Review Their 403(b) Plan Documents

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Generally, a 403(b) plan is a retirement planning program whereby a public school or tax-exempt 501(c)(3) organization (including churches) makes contributions for their employees (and certain ministers) to specific types of...more

Nossaman LLP

IRS Issues Final Rules for Notice of Intent to Operate as 501(c)(4) Social Welfare Organization

Nossaman LLP on

The IRS on July 23 issued final regulations (“Final Rules”) implementing the Internal Revenue Code section 506 requirement that an entity notify the IRS of its intent to operate as a Code section 501(c)(4) social welfare...more

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