The Internal Revenue Service has issued guidance aimed at charitable trusts that have turned into private foundations as a result of provisions of the Pension Protection Act of 2006.

Trusts that turned into private foundations in 2007 as a result of a narrowing in the definition for “supporting organizations that are ‘operated in connection with’ one or more publicly supported organizations” can continue to use the Form 990 to file their income tax exemption information for taxable years beginning before Jan. 1, 2008, officials write in IRS Notice 2008-6.

The charitable trusts that lose their charitable trust status can wait until later tax years to start using the Form 990PF private foundation return.

More information is available