Exempt Organizations Advisory - IRS Invites Public Comment on Regulations Requiring Public Disclosure

On July 17, the IRS requested public comment, as required by the Paperwork Reduction Act, on regulations requiring exempt organizations to make their Annual Information Returns (Form 990) and their Applications for Exemption (Form 1023 or 1024) available to the public. The regulations were promulgated under Section 6104(d) of the Code, which generally requires an exempt organization to make available for public inspection and/or provide a copy of each of its "annual information returns" for a period of three years from the date of filing and the "application for exemption" that the organization filed with the Service. The regulations were effective June 8,1999. The IRS notice can be found here. Written comments should be received on or before September 15, 2006.

The Exempt Organization Advisory is a general summary of the law and is not intended as specific legal advice for any organization.

Internal Revenue Service - Circular 230 Disclosure: As provided for in Treasury regulations, advice (if any) relating to federal taxes that is contained in this communication (including attachments) is not intended or written to be used, and cannot be used, for the purpose of (1) avoiding penalties under the Internal Revenue Code or (2) promoting, marketing or recommending to another party any plan or arrangement addressed herein.

Questions and comments about the Exempt Organizations Advisory are always welcome and should be sent to bstone@steptoe.com.