The IRS has issued new procedural guidance relieving certain foreign FIFA member associations from the requirement to file an annual information return for tax years related to their participation in the 2026 FIFA World Cup. (Rev Proc 2026-28, 7/24/2026)
The new revenue procedure, which amplifies existing guidance, provides a specific filing exception for tax-exempt foreign organizations participating in the recent international soccer tournament.
The IRS reasoned that the compliance burden of filing Form 990, Return of Organization Exempt from Income Tax, which requires reporting worldwide operations, would be disproportionate to the informational value provided by the filings, given the temporary and limited nature of the organizations’ U.S. activities.
To dig deeper, visit the original article on the Thomson Reuters blog.