The U.S. Treasury Department and IRS on October 8, 2019, released the 2019-2020 priority guidance plan.
The 2019-2020 priority guidance plan [PDF 97 KB] is a list of projects that Treasury and the IRS intend to work on during the 12-month period ending June 30, 2020, and includes guidance for implementing certain measures under the 2017 U.S. tax law that is often referred to as the “Tax Cuts and Jobs Act” (Pub. L. No. 115-97).
Projects affecting exempt organizations that have not appeared on past priority guidance plans include guidance on group exemption letters, on circumstances under which LLCs can qualify for section 501(c)(3) status, and on new electronic filing requirements for exempt organization returns. One project affecting exempt organizations that appeared in past priority guidance plans that was removed from the 2019-2020 plan is guidance under section 512 regarding methods of allocating expenses relating to dual use facilities—although this issue may potentially be addressed as part of the work on regulations under section 512(a)(6), another project on the plan.
The projects affecting exempt organizations, charitable giving, and tax-exempt bonds are listed below.
Exempt organization guidance under the Tax Cuts and Jobs Act
Other guidance projects concerning exempt organizations
Projects listed under the heading “Tax-exempt Bonds”
Projects relating to charitable contributions
For more information, contact a tax professional with KPMG’s Washington National Tax practice:
Ruth Madrigal | +1 202 533 8817 | firstname.lastname@example.org
Preston Quesenberry | +1 202 533 3985 | email@example.com
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