News from the IRS: Advice, new tools and a request

IRS: Nonprofit governance advice and economic stimulus

In a new publication available through the Internal Revenue Service's web site, the IRS offers its opinion on what governance practices nonprofits should follow. Click here to see the new publication, which begins with this thesis: “The IRS believes that a well-governed charity is more likely to obey tax laws, safeguard charitable assets, and serve charitable interests than one with poor or lax governance.”

The IRS goes on to explain that while tax law generally does not mandate any particular governance practices, the IRS has an interest in ensuring that both donors and charities are in compliance with the law, and therefore, the new IRS Form 990 asks specific questions about a nonprofit's governance practices that will be used in IRS investigations of nonprofit organizations.

IRS releases new Exempt Employers Toolkit

The IRS has launched a new resource page on its website for nonprofit employers. This page centralizes federal tax resources commonly needed by tax-exempt organizations that compensate employees. Click here to visit the Exempt Employers Toolkit for more information. 

IRS asks nonprofits to help non-filers get economic stimulus payments

The IRS is encouraging various partners and stakeholders such as charities, churches, employers and governmental organizations to assist in efforts to reach out to those Americans who may be eligible for the 2008 economic stimulus payment but who normally have no requirement to file a tax return. Click here to view the new IRS web page, "Economic Stimulus Payments: How Organizations Can Help."

The new web page has links to resources and marketing information designed for people on Social Security, veterans, low-income workers and retirees in both Spanish and English, public service announcements, guides and 1040A Forms, for those who are eligible for the payments but aren’t required to file tax returns.