Prop. regs. address donor reporting and other matters

[...]the court set aside the revenue procedure, holding that it was unlawful. [...]they would specify that the gross receipts filing threshold for all organizations (other than private foundations and supporting organizations) formed in the United States would be $50,000. [...]the penalty relief pro...

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Bibliographic Details
Published in:The Tax Adviser 2020-01, Vol.51 (1), p.18-21
Main Authors: Kennedy, Terence M, McPeak, Melanie A, DeKock, Vickus
Format: Article
Language:English
Subjects:
Excess benefit transactions
Fines & penalties
Income taxes
Information returns
Interest groups
Political organizations
Reporting requirements
Terence (Publius Terentius Afer) (185?-59 BC)
Online Access:Get full text
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Summary:[...]the court set aside the revenue procedure, holding that it was unlawful. [...]they would specify that the gross receipts filing threshold for all organizations (other than private foundations and supporting organizations) formed in the United States would be $50,000. [...]the penalty relief provided in Notice 2019-47 is automatic in nature and does not require any additional action or documentation on the taxpayer's part to take advantage of it.
ISSN:0039-9957