Paul Streckfus, Editor
1 – EO Revenue Procedures Updated
The annual updating of the basic EO revenue procedures has taken place with few changes.
Rev. Proc. 2010-4, on TE/GE letter ruling requests, has mostly minor revisions. An additional circumstance under which EO Technical will not issue letter rulings is added as section 6.18.
Last Friday ABA tax attorneys met in San Antonio. As part of the gathering, EO practitioners had their usual daylong meeting. For those of us not in attendance, my transcriber is already working on the first session. Now you know why she hates me.
Yesterday I had Marc Owens’ testimony at Wednesday’s hearing on the proposed section 7611 regulations. Today I have the testimony of Pennsylvania attorney David Epstein.
A hearing on the proposed section 7611 regulations was held yesterday, featuring three commenters. For the proposed regulations, see EOTJ, vol. 14, no. 4, p. 158. For written comments on the proposed regulations, see EOTJ, vol. 14, no. 6, pp. 145-171. What follows is the prepared testimony of Marc Owens for the hearing. Joining Owens in commenting were Pennsylvania attorney David Epstein and Erik Stanley, senior legal counsel, Alliance Defense Fund.
1 – Leave Our Guy Alone
In Monday’s email update on The Chronicle of Higher Education’s annual survey of salaries of leaders of public universities, it was noted that “As in 2008, E. Gordon Gee, president of Ohio State University, topped the Chronicle’sranking for 2009, with an annual compensation package valued at nearly $1.6 million.”
1 – Advice for EOs from Former Director of Tax-Exempt Bonds
2 – ABA Comments on Recently-Enacted Section 265(b)(3)(G) As It Impacts 501(c)(3) Organization
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1 – AHA’s Advice to Nancy Pelosi and Harry Reid
In a January 7 letter, the American Hospital Association says Schedule H is “seriously flawed.”
2 – Marc Owens on Need for Determinations Function
1 – Charlotte Observer: “For Too Many Nonprofits, Charity Starts at the Top”
What a reporter for the Charlotte Observer did in the Carolinas should be done by the IRS nationwide. And if the IRS is not applying section 4958 to the cases identified in the article, reprinted infra, when will it ever?
1 – FASB To Form Not-for-Profit Advisory Committee
2 – Editor’s Commentary on New Agency to Regulate Charities
3 – Latest Comment Letter on Proposed 509(a)(3) Regs
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1 – My bookshelf, feel free to skip
2 – What others have to say
3 – Does the IRS governance initiative cover this?
4 – More comments on proposed 509(a)(3) regs
A – Comments of Lettie Pate Foundations
More comment letters today on the proposed 509(a)(3) regulations on Payout Requirements for Type III Supporting Organizations That Are Not Functionally Integrated.