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New Schedule B Rules for Tax Exempt Organizations

July 24, 2018
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The Internal Revenue Service released Revenue Procedure 2018-38 in which it announced that most tax-exempt organizations will no longer be required to report the names and addresses of donors on Schedule B of Form 990. This new rule applies to Schedules B for all tax-exempt organizations, except for organizations exempt under 501(c)(3).

For example, under this new rule, an organization exempt under 501(c)(4) will still need to prepare Schedule B, but not have to include the name and address of each contributor who contributed $5,000 or more during the return year. The revised reporting requirements will apply to returns for taxable years ending on or after December 31, 2018.


Click below to read Revenue Procedure 2018-38