Policy Update

IRS Seeks Comments on 990 Forms, Estate Tax Reform Package Could Return

8/07/2006

Source: Independent Sector 

IRS Seeking Comment on Forms

The Internal Revenue Service is seeking public comments on a variety of tax forms and documents including the Form 990-PF, Form 990-T, and Tax Exempt Hospitals Compliance Questionnaire. Comments are due by October 6 and should be sent to Glenn P. Kirkland, IRS, 1111 Constitution Avenue, NW, Room 6516, Washington, DC 20224.

Joint Tax Extenders and Estate Tax Reform Package Could Return

Senate Majority Leader Bill Frist (R-TN) told reporters that he has no plans to bring up a package of popular business tax extenders by themselves and raised the possibility that he will again try to pass a joint package containing the extenders and estate tax reform.

Sen. Frist plans to assess the mood of the public and hopes that "people see over the next four weeks that the vote on the death tax, on the minimum wage, and on the extenders, that there is pressure from the American people."

FEC May Address Issue Ads

The Federal Election Commission will consider a proposal at its August 29 meeting to adopt a temporary rule that would allow nonprofits, corporations and labor unions to run issue ads during the coming election season. Commission member, Hans von Spakovsky, introduced a draft interim final rule to exempt grassroots lobbying communications from the definition of electioneering communications.