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New IRS Tool Lets You Research Charities

By MarksNelson on May 17, 2018 in Articles, News, Tax

A new online tool is making it easier for you to access information about charitable organizations. Last week the IRS released the Exempt Organizations Select Check, which for the first time, gives the public access to images of newly filed Forms 990.

The search feature replaces the EO select check which debuted in 2012 and primarily focused only on providing information on an organization’s tax-exempt status. It’s also more mobile friendly, allowing users to search for information on either smartphones or tablets.

“This new tool provides taxpayers an easy way to get information about charitable organizations, “ said Acting IRS Commissioner David Kautter. “Tax-exempt organizations play a critical role in our nation, and this will provide greater insight for people considering donations.”

Right now, only Forms 900 filed in January and February of this year are available along with a limited-number of favorable determination letters. However, the IRS plans to add more filings to the system on a monthly basis.

Additional features of the TEOS tool include:

  • Access to information on the old search system
  • Eligibility for tax-deductible contributions
  • Tax-Exempt Status or whether it was revoked due to filing requirements

For questions on making charitable donations contact your MarksNelson professional at 816-743-7700.

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MarksNelson LLC works with clients to help safeguard and grow their businesses. Our ultimate goal is to help our clients to Move Forward. The firm provides Assurance, Accounting Services and Business Advisory, Business Valuation, Consulting, Cost Segregation, Employee Benefit Plan Audits, Litigation Support, Forensic Accounting, International Tax, State and Local Tax and Tax planning, advisory and compliance services. MarksNelson is a member of The Leading Edge Alliance, the second-largest international professional association of independently owned accounting and consulting firms, serving clients who need additional resources on a national or international level. MarksNelson has significant accounting and business advisory experience in the auto dealership, construction, insurance, manufacturing, distribution and real estate sectors. The firm was named among the 2014 Best Accounting Firms for Leadership Equity by the 2014 Accounting MOVE Project for its dedication to gender equity.