IRS Reports—What Was Done in 2010 and What’s Planned for 2011
If you feel like the IRS might be watching you a little bit more closely these days, a new report from the Exempt Organizations Division (EO) of the Tax Exempt and Government Entities of the IRS provides some basis for that observation. EO Director Lois Lerner outlines accomplishments in fiscal year (FY) 2010 and previews plans for FY 2011 in the 29-page report. It is worth reading the entire report to get an understanding of EO’s priorities, but below are some highlights.
What Happened in FY 2010. Increased Monitoring . The statistics show that IRS has stepped up its efforts to check on charity compliance. For example: Audits of exempt organizations increased from 7,861 in FY 2008 to 10,187 in FY 2009 (a 30 percent rise) and to 11,449 in FY 2010 (another 12 percent). … Read more
(Source: Guide Star Newsletter)