IRS issues three guides to assist charities and foundations
The Internal Revenue Service has issued three pocket-size guides to assist 501(c)(3) organizations and taxpayers in complying with the laws of tax-exempt organizations.
Two of the publications – one for public charities and a second for private foundations – outline the law and its restrictions, detail reporting requirements and the IRS forms that must be filed, and summarize recordkeeping obligations of the organizations.
The third guide, “Charitable Contributions – Substantiation and Disclosure Requirements,” explains the federal tax law for organizations such as charities and churches that receive tax-deductible charitable contributions and for taxpayers who make contributions. To review the IRS Compliance Guides, click on the appropriate link:
