Louis E. Michelson, A Professional Corporation

The IRS published a revised Publication 577, Tax-Exempt Status for Your Organization.  The “What’s New” section contains the following items:

-Automatic revocation for not filing annual return or notice

-Redesigned Form 990 and Instructions

-Elimination of the advance public charity status

-Report  significant new or changed program services or changes to organizational documents

-Publication 78 – Update on Revocation List of Exempt Organizations

-Consumer Operated and Oriented Plan program (CO-OP program) released

-Accountable Care Organizations (ACO)

-Future Developments

The “Reminders” section contains the following items:

-The Patient Protection and Affordable Care Act (ACA)

-Electronic filing requirement for large organizations

-Section 501(c)(15) gross receipts

-Prohibited tax shelter transactions

-Pension Protection Act of 2006 tax changes

The following link is IRS Publication 577, Tax-Exempt Status for Your Organization