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This Week's Internal Revenue Bulletin

FEB. 17, 2015

2015-7 IRB 1

DATED FEB. 17, 2015
DOCUMENT ATTRIBUTES
  • Institutional Authors
    Internal Revenue Service
  • Subject Area/Tax Topics
  • Jurisdictions
  • Language
    English
  • Tax Analysts Document Number
    Doc 2015-3659
  • Tax Analysts Electronic Citation
    2015 TNT 31-19
Citations: 2015-7 IRB 1

These synopses are intended only as aids to the reader in identifying the subject matter covered. They may not be relied upon as authoritative interpretations.

 

EXEMPT ORGANIZATIONS

 

 

Announcement 2015-5 2015 TNT 31-17: Internal Revenue Bulletin, page 602. Revocation of IRC 501(c)(3) Organizations for failure to meet the code section requirements. Contributions made to the organizations by individual donors are no longer deductible under IRC 170(b)(1)(A).

Rev. Proc. 2015-17 2015 TNT 22-25: IRS Revenue Procedures, page 599. This revenue procedure supersedes Revenue Procedure 2012-11, 2012-7 I.R.B. 368, and sets forth procedures for issuing determination letters and rulings on the exempt status of qualified nonprofit health insurance issuers (QNHIIs) described in § 501(c)(29) of the Internal Revenue Code (Code).

T.D. 9709 2015 TNT 17-9: IRS Final Regulations, page 593. These final regulations authorize the IRS to prescribe the procedures by which certain entities may apply to the IRS for recognition of exemption from Federal income tax. These regulations affect qualified nonprofit health insurance issuers, participating in the Consumer Operated and Oriented Plan program established by the Centers for Medicare and Medicaid Services, that seek exemption from federal income tax under the Internal Revenue Code.

 

ADMINISTRATIVE

 

 

Rev. Proc. 2015-16 2015 TNT 31-21: IRS Revenue Procedures, page 596. This revenue procedure updates Rev. Proc. 2014-15, 2014-5 I.R.B. 456, and identifies circumstances under which the disclosure on a taxpayer's income tax return with respect to an item or position is adequate for the purpose of reducing the understatement of income tax under section 6662(d) of the Internal Revenue Code (relating to the substantial understatement aspect of the accuracy-related penalty), and for the purpose of avoiding the tax return preparer penalty under section 6694(a) (relating to understatements due to unreasonable positions) with respect to income tax returns.
DOCUMENT ATTRIBUTES
  • Institutional Authors
    Internal Revenue Service
  • Subject Area/Tax Topics
  • Jurisdictions
  • Language
    English
  • Tax Analysts Document Number
    Doc 2015-3659
  • Tax Analysts Electronic Citation
    2015 TNT 31-19
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