The Internal Revenue Service (IRS) has proposed regulations to clarify the reporting requirements that are generally applicable to certain tax-exempt organizations.
The proposed regulations will mainly incorporate the existing exception from having to file an annual return for certain organizations that normally have gross receipts of $50,000 or less. But they also incorporate relief from requirements to report contributor names and addresses on annual returns, as previously provided in Revenue Procedure 2018-38.
A recent court decision held that Treasury and the IRS should have followed notice and comment procedures in 2018 when they announced the relief from requiring names and addresses, and the proposed regulations provide the opportunity for notice and comment on that relief as well as on other proposed updates to existing regulations.