On May 7, 2010, the Internal Revenue Service released the Interim Report on its Nonprofit Colleges and Universities Compliance Project, summarizing the status of the Compliance Project and the information that it received in response to the compliance check questionnaires sent out in October 2008. Though much of the information discussed was directly related to colleges and universities, the focus of the IRS in this project can teach all tax-exempt organizations valuable lessons about IRS compliance and enforcement, including the issues that the IRS will focus on in future examinations and compliance projects. Learn from two of Venable's tax-exemption experts what this all means for your nonprofit organization.
George E. Constantine, Esq., Partner, Venable LLP, Washington, DC
Matthew T. Journy, Esq., Associate, Venable LLP, Washington, DC