Overview
Yesterday, the IRS Tax Exempt & Government Entities Division (TE/GE) released its FY 2021 Program Letter listing its priorities for the new fiscal year. Among the FY 2021 priorities of note to tax-exempt organizations are:
- Strengthen Compliance Activities:
- Collaborate across IRS on existing and emerging issues, such as syndicated conservation easements and abusive charitable remainder annuity trusts.
- Support tax compliance in the global high wealth arena, especially for private foundations, and retirement plans of closely held businesses, such as employee stock ownership plans.
- Foster voluntary compliance by using enhanced techniques to identify and develop civil and criminal fraud and promoter investigation cases, and recommend criminal prosecutions and/or civil penalties or injunctions against taxpayers or promoters who evade the assessment or payment of taxes.
- Maintain a Taxpayer-Focused Organization: Expand e-filing of Forms 990-series, 8038-CP and 5500-EZ, and continue to work toward electronic determination letter applications.
- Leverage Technology and Data Analytics: Use noncompliance research and data analytics to detect emerging issues.
- Develop Our Workforce: Merge TE/GE Knowledge Management into the IRS Knowledge Management platform to encourage information sharing.
The IRS notes that TE/GE's FY 2021 compliance program and priorities align with the IRS strategic goals. Additional priorities will be added to TE/GE's new Compliance Program and Priorities webpage at the end of each quarter during the fiscal year.