On May 7, 2018, the Internal Revenue Service (“IRS”) issued release IR-2018-116 introducing a new online tool on the IRS’ website; www.irs.gov, that replaces EO Select Check (“Select Check”) which was first made available in 2012 and provided a search of the IRS exempt organization database. The purpose of the new online tool, Tax Exempt Organization Search (“TEOS”) is to make information on tax-exempt organizations more readily accessible to the general public.
The IRS has overhauled its tax-exempt search tool and has launched TEOS to replace Select Check. TEOS provides access to more information on tax-exempt organizations than what was previously available on Select Check; a tool that allowed the public access to information with respect to the following:
In addition to this information previously available on Select Check, TEOS now also provides the following enhancements for users:
David Kautter, Acting IRS Commissioner stated that “This new tool provides taxpayers an easy way to get information about charitable organizations,” and “Tax-exempt organizations play a critical role in our nation, and this will provide greater insight for people considering donations.”
The improvements made to the Select Check tool allow for more transparency and availability of information on tax-exempt organizations. This is particularly important for individuals and entities looking to make tax-deductible contributions to IRC §501(c)(3) tax-exempt organizations. Thus, it emphasizes the importance of compliance with annual filings as donors now have more access to information than they previously did.
The TEOS tool can be accessed here.
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Author: Johanna Orellana | jorellana@withum.com
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