Accounting and Finance News Stories
IRS Alerts 501(c)(4) Organizations to New Notification Process
New final and temporary regulations from the IRS alerts Section 501(c)(4) organizations to new compliance requirements under the Protecting Americans from Tax Hikes (PATH) Act enacted last December. The regulations took effect on July 8. The PATH Act added Section 506 to the Internal Revenue Code, which requires that 501(c)(4) groups must notify the IRS of their formation within 60 days after the date of organization.