IRS Eliminates Advance Ruling Process in Form 990 Final Rules

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IRS issues final rules that implement the revised Form 990, eliminating the advance ruling process for new organizations, changing the public support computation period for publicly supported organizations to five years, and clarifying that support must be reported using the organization's overall method of accounting. The final rules (T.D. 9549) also allow for new threshold amounts for reporting compensation, require that compensation be reported on a calendar year basis, and modify the scope of organizations subject to information reporting requirements upon a substantial contraction.

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