Internal Revenue Service

Internal Revenue Service Notice 2018-67 (the “Notice”) sets forth interim guidance relating to Internal Revenue Code § 512(a)(6) Special rule for organization with more than one unrelated trade or business.

Enacted on December 22, 2017 as part of Public Law 115-97 (the “Tax Cuts and Jobs Act”), Code § 512(a)(6) provides that

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On July 16, 2018, the Internal Revenue Service (the “IRS”) issued Revenue Procedure 2018-38 ( the “Revenue Procedure”), which contains procedures modifying the information to be reported to the IRS on annual Form 990 Return of Organization Exempt From Income Tax and Form 990-EZ Short Form Return of Organization Exempt From Income Tax.

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