The Internal Revenue Service has announced that it is seeking public comments on the draft instructions to the 2008 Form 990, the annual return most tax-exempt organizations must use to report information about their operations.  The instructions are for the redesigned Form 990 that organizations will file for their 2008 tax year (returns filed in 2009), which was released in final form in December 2007 (IRS news release IR-2007-204).

Subchapter T cooperatives are required to use Form 1120-C for tax years ending on or after December 31, 2007.  This includes certain agricultural cooperatives that qualify for so-called "tax exempt" status under Internal Revenue Code section 521.  But many utility and other cooperatives with true tax exempt status file on Form 990.

The comment period is open until June 1, 2008.  Special highlights lists indicating certain items in the instructions on which the IRS would especially like to receive public comments are also posted.  As with comments received on the draft Form 990, the IRS plans to post comments on the instructions on its Web site.

To access the draft instructions and additional information, go to www.irs.gov and click on the "CHARITIES & NON-PROFITS" bar right below the header.  The top item on the page that appears is a link to the draft instructions and supporting documents.