Exempt Organizations
KPMG TaxNewsFlash reports of tax developments concerning U.S. exempt organizations
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Latest tax developments from the United States and from KPMG member firms around the globe
News
KPMG report: Employers providing employee assistance for victims of Los Angeles wildfires
KPMG report reviews the options for employers, and some of the advantages and disadvantages of each.
January 28, 2025
News
Rev. Proc. 2025-6: Procedures for certain applicable entities that made elective payment election on Form 990-T to change annual accounting period
Effective for changes in annual accounting periods of in-scope applicable entities for which first effective year begins on or after January 1, 2024
January 16, 2025
News
Guidance for states that have paid family and medical leave programs; additional employment tax updates with possible relevance for tax-exempt organizations
Rev. Rul. 2025-4 and other U.S. employment tax updates that may be of importance to exempt organizations
January 16, 2025
News
Notice 2025-8: Updated elective safe harbor for domestic content bonus credit guidance amounts under sections 45, 45Y, 48, and 48E
Modification to safe harbor provided in Notice 2024-41
January 16, 2025
News
Notice 2025-9: Safe harbors regarding incremental cost and retail price equivalent of certain qualified commercial clean vehicles for purposes of section 45W credit
Notice is effective on January 15, 2025
January 15, 2025
News
Announcement 2025-6: Pilot program to test changes to alternative dispute resolution (ADR) programs
IRS is requesting comments on the pilot changes
January 15, 2025
News
“Qualified disaster” declaration allows employers and employer-sponsored charities to provide relief (California)
FEMA’s disaster declaration allows certain employer-sponsored charities to provide disaster relief programs for affected employees.
January 10, 2025
News
KPMG report: Analysis and observations on investment tax credit for energy property under section 48
Rules for determining whether investments in energy property are eligible for the energy credit and for defining an energy project
January 9, 2025
News
Final regulations and Rev. Proc. 2025-11: Guidance on environmental justice clean electricity capacity limitation program
Program provides an increase to the new clean electricity investment tax credit rate available under section 48E
January 8, 2025
News
Rev. Rul. 2025-3 and Rev. Proc. 2025-10: Guidance on definition of employee under section 530 of the Revenue Act of 1978
Clarifications and modifications regarding the application of section 530 of the Revenue Act of 1978
January 8, 2025
News
Outline of tax priorities upon confirmation of Senate Finance Chairman Crapo
Priorities include extending TCJA provisions set to expire at end of 2025 and Taiwan double-tax relief
January 8, 2025
News
IRS annual revenue procedures for 2025
Six annual revenue procedures
January 3, 2025
"Qualified disaster" declarations
Employer-sponsored private foundations and donor-advised funds may provide assistance
Tax Services
News
Rev. Proc. 2024-38: Guidance on income requirements for residential rental projects financed with exempt bonds and low-income housing projects
Guidance on the effect on the income requirements under section 142(d) and section 42 of the alternative income eligibility requirements
September 25, 2024
News
Application period for 2024 environmental justice solar and wind capacity limitation program closing soon
Application period will close for most low-income community projects on October 10, and for projects located on Indian Lands on November 12.
September 24, 2024
News
Notice 2024-68: Per diem rates, substantiation of employee lodging, meals, incidentals (2024-2025)
Special per diem rates for taxpayers to use in substantiating the amount of ordinary and necessary business expenses incurred while traveling
September 20, 2024
News
Proposed regulations and Notice 2024-64: Guidance on qualified alternative fuel vehicle refueling property credit under section 30C
Property placed in service in eligible census tracts, which include low-income communities and non-urban census tracts
September 18, 2024
News
Rev. Proc. 2024-37: Guidance on filing claims for recovery of overpayments related to tax-exempt and other tax-advantaged bonds
Claims must be filed using Form 8038-R
September 18, 2024
News
Proposed regulations: Exclusion from gross income under section 139E of Tribal general welfare benefits
Requirements for benefits that an Indian Tribal government program provides to qualify as Tribal general welfare benefits
September 13, 2024
News
Tax-exempt organizations without direct pay registration number for clean energy credits urged to contact IRS
Entities that have submitted pre-filing registration package and meet certain criteria are asked to contact the IRS
September 12, 2024
News
Third quarter update to IRS 2023-2024 Priority Guidance Plan
The U.S. Treasury Department and IRS released the third quarter update to the 2023-2024 Priority Guidance Plan.
June 26, 2024
News
Final regulations: Disallowance of deductions for certain conservation easement contributions by partnerships, S corps
Final regulations introduce several new concepts to implement the statutory disallowance rule
June 24, 2024
News
D.C. Circuit: IRS’s denial of tax-exempt status upheld
Taxpayer did not have standing to challenge the IRS’s denial of tax-exempt status
June 24, 2024
News
IRS provides enhanced access to Form 990 series data
Descriptive information on new TEOS Improvements page
June 21, 2024
News
Final regulations: Guidance on prevailing wage and apprenticeship requirements under clean energy tax incentives
Increased credit amounts or increased deduction amount available for taxpayers satisfying prevailing wage and registered apprenticeship requirements
June 18, 2024
News
Rev. Proc. 2024-19: Guidance on environmental justice solar and wind capacity limitation program for 2024
Guidance applicable to the program to allocate environmental justice solar and wind capacity limitation
March 29, 2024
News
U.S. Tax Court: Conservation easement contribution regulations held invalid under APA
A U.S. Tax Court case concerning conservation easement contribution regulations under Administrative Procedure Act
March 28, 2024
News
Notice 2024-32: Guidance for qualified student loan and qualified mortgage bonds
Clarifying certain requirements for tax-exempt bond financing for loan programs of general application approved by a state
March 25, 2024
News
Notice 2024-30: Expanded rules for energy community production and investment tax credits under IRA
The IRS also updated the frequently asked questions for energy communities.
March 22, 2024
News
Proposed regulations: Certain charitable remainder annuity trust transactions identified as listed transactions
Identifying certain charitable remainder annuity trust transactions and substantially similar transactions as listed transactions
March 22, 2024
News
Second quarter update to IRS 2023-2024 Priority Guidance Plan
Guidance projects published or released from October 1 through December 31, 2023
March 20, 2024
News
KPMG report: Final regulations on direct pay of certain tax credits under IRA, observations and analysis
A KPMG report that provides analysis and observations of the final regulations on direct pay of certain tax credits.
March 15, 2024
News
Notice 2024-28: Request for recommendations for IRS 2024-2025 Priority Guidance Plan
The IRS invites recommendations for items to be included on the 2024-2025 Priority Guidance Plan.
March 7, 2024
News
Treasury and IRS issue final regulations, other guidance on direct pay of certain tax credits under IRA
Final regulations and other guidance relating to direct pay of certain tax credits available under IRA
March 5, 2024
News
Comment period reopened for proposed regulations under section 6050S, section 25A
Qualified tuition expenses and education tax credits
February 23, 2024
News
IRS TE/GE division provides new technical guide on fraternal societies under sections 501(c)(8) and 501(c)(10)
Law, regulations, and federal income tax issues with respect to fraternal beneficiary societies and domestic fraternal societies
February 22, 2024
News
U.S. Treasury website tracking tax guidance under IRA, release on clean energy in colleges and universities
H.R. 5376 (the “Inflation Reduction Act of 2022”)
February 21, 2024
News
Application period for environmental justice solar and wind capacity limitation program closing February 29
Applications for 2023 program year for “Low-Income Communities Bonus Credit program” will close on February 29, 2024
February 13, 2024
News
Announcement 2024-7: Effective dates for changes to user fee schedule for determination letters
Corrections to Appendix A of Rev. Proc. 2024-5 which omitted effective dates for certain changes to user fees in user fee schedule
February 12, 2024
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