Tax-Exempt Organizations: Reporting, Disclosure and Other Procedural Aspects (Portfolio 452)


Richard Fox


Law Offices of Richard L. Fox, LLC

At a glance

I. Introduction
II. Reporting and Recordkeeping Requirements
III. Fundraising by Tax-Exempt Entities —Reporting of Fundraising Practices
IV. Publicity of Information, DisclosureRequirements, and Information for Donors
V. Penalties
VI. Declaratory Judgments
VII. Conclusion


Tax Management Portfolio No. 452, Tax-Exempt Organizations: Reporting, Disclosure and Other Procedural Aspects, addresses the procedural aspects concerning organizations exempt from federal income taxation under the Internal Revenue Code. The Portfolio examines the reporting and recordkeeping requirements necessary to obtain and maintain recognition of exemption. Most exempt organizations must file annual information returns. In addition, exempt organizations must keep records sufficient to substantiate the information required for the annual information return.

The Portfolio also discusses the reporting of fundraising practices by tax-exempt organizations, as well as the applicable publicity, disclosure, and donor information requirements. The Portfolio then describes the civil and criminal penalties to which tax-exempt organizations are subject. Finally, the Portfolio describes the declaratory judgment remedy available to organizations receiving adverse determination letters from the IRS.

The organizational and operational requirements of exempt organizations are discussed in 450 T.M., Tax-Exempt Organizations: Organizational Requirements and 451 T.M., Tax-Exempt Organizations: Operational Requirements. Other issues relating to tax-exempt organizations discussed herein are covered in greater detail in other Portfolios, to which reference has been made where appropriate.

This Portfolio may be cited as Webster, 452 T.M., Tax-Exempt Organizations: Reporting, Disclosure and Other Procedural Aspects.

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