IRS kills Schedule B except for public charities
The Internal Revenue Service has decided that tax-exempt organizations filing Form 990 or Form 990-EZ tax information returns other than 501(c)(3) public charities will no longer have to file a Schedule B listing their significant donors. ( Rev. Proc. 2018-38. ) (c)(4) social welfare organizations, (c)(6) business leagues, (c)(7) social clubs and all of the other exempt organizations required to file the Form 990 or 990-EZ will be relieved of the requirement for tax years ending on or after December 31, 2018. Only public charities filing one of those two returns will still be required to file the schedule. (Private foundations, which file Form 990-PF, will continue to be required to list...
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