Nov 2, 2021, 5:27 PM
(from AICPA) The Taxpayer First Act (TFA), which was signed into law in 2019, requires certain exempt organizations to file information and tax returns electronically, beginning with the tax years after the law was signed. This year, in its exempt organization’s updates, the IRS announced that organizations filing the Form 990 Series must e-file their returns, starting with the tax year ending July 31, 2020. To help taxpayers with the new processes, members of AICPA’s Exempt Organizations Taxation Technical Resource Panel (TRP) identified some potential taxpayer challenges.
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