On March 10, 2022, the Office of the New York Attorney General, Charities Bureau, submitted comments in response to IRS Notice 2021-56 (the “Notice”). The Notice, which was published on October 21, 2021, sets forth current standards that a limited liability company (“LLC”) must satisfy to be recognized as tax-exempt under 501(c)(3) of the Internal
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Certain Tax-exempt Organizations No Longer Required to Report the Names and Addresses of their Contributors
By Ahsaki E. Benion on
Posted in Internal Revenue Service
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.
Under…