The 2007 Cumulative Supplement includes updates on the following developments:
- Enactment of the Pension Protection Act of 2006 brought much new law to the realm of tax-exempt organizations. These developments include the expanded body of law concerning supporting organizations, the temporary rule concerning the tax treatment of certain forms of revenue from controlled entities, the small organizations notification requirement, and the rules revoking exempt status for failure to file annual information returns.
- As 2006 closed, departing Ways and Means Committee Chairman Bill Thomas introduced legislation on the subject of charity care which is summarized in this supplement.
- Information regarding one of the most stunning developments during the past year reversal of the first of the intermediate sanctions cases (involving tax-exempt healthcare entities).
- The Department of the Treasury revised and republished its voluntary best practices as part of its Anti-terrorist Financing Guidelines and thereafter the IRS weighed in with a draft of its "Good Governance Practices" for charitable organizations.