Deadline
to Register: Thursday, February 13,
2014
Due to Presidents’ Day, the teleconferencing instructions
will need to be sent via e-mail on Friday, February 14.
On January 2nd,
IRS released Revenue Procedure 2014-11 which completely changed the playing
field by which automatically revoked exempt organizations can not only be
reinstated (requiring a new exemption application), but have that reinstatement
apply retroactively back to the date of revocation. This new Rev. Proc. provides factors by
which an organization will be considered to have reasonable cause for their
underlying failure to file Forms 990/990-EZ or the 990-N notice for three
consecutive years and thus qualify for retroactive reinstatement. Many organizations’
circumstances fall squarely within such factors, but the Revenue Procedure now covers
circumstances that had NOT been considered by the IRS to comprise reasonable
cause in the past (for example, a history of compliance with other annual filing
requirements – such as the Form 990-T, or longstanding filing of Forms
990/990-EZ under an incorrect taxpayer ID number).
This
will be the first topic of the Business Law Section’s Nonprofit Corporations
Committee brown bag lunch series.
We will meet at the MSBA offices on Wednesday February 18 at Noon (bring
your own lunch). Eve Borenstein
will walk us through the newly released IRS procedures related to revocation of
tax exempt status.
At
the end of the lunch, the group will brainstorm on topics for future lunch
discussion groups.
This
is a brown-bag lunch. Water and
soft drinks will be provided.
Discussion
Facilitator:
Eve Borenstein, Borenstein and McVeigh Law Office
LLC
CLE
Credits:
1 Standard CLE
credit approved | Event Code: 188063
Remote
Participation:
Teleconferencing
is available. Please indicate that you will attend
by teleconference when registering.
Due to Presidents’ Day, the teleconferencing instructions will be sent
via e-mail on Friday, February 14.
Cost:
There is no
cost to attend.
Please
use this link to register online:
http://msba.mnbar.org/Meetings/Meeting?ID=348
Questions? Contact:
Sue Bores l sbores@mnbar.org
l 612-278-6325