The Department of the Treasury has issued a notice through the Internal Revenue Service (IRS) to request public comments on the forms used by tax-exempt organizations. This request is part of an ongoing effort to minimize paperwork and reduce the burden on respondents, in accordance with the Paperwork Reduction Act of 1995. The IRS has reported changes in regulatory guidance over the past year and is looking to renew the approval package for these forms. Individuals and agencies can submit their feedback on the proposed information collections by January 21, 2025.
Simple Explanation
The government is asking people to share their thoughts on the forms that certain organizations use to not pay taxes, in order to make them easier and less time-consuming to fill out. They want people to say what they think before January 21st of next year.