September 17, 2009
IRS Rejects a Redesign of Foundation Tax Return
The Internal Revenue Service has turned down suggestions that it redesign the informational tax return filed by private foundations and simplify the filing rules for small private foundations.
The tax agency rebuffed the ideas of the federal Taxpayer Advocacy Panel, made up of 99 "citizen volunteers" from across the country, to update the return, known as the Form 990-PF.
"The complexity of this form results in a 32-percent error rate," the committee said. "In addition, small
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