Jim Rourke

Jim Rourke

Nexsen Pruet, PLLC

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Quid Pro Quo: When a “Gift” is not a Gift

When it comes to properly documenting property and cash donations, most charities are well-versed with the IRS’ substantiation rules. But equally as important to those rules are the disclosure requirements regarding quid pro...more

4/8/2016 - Charitable Donations Easements Insider Trading IRS Personal Benefit Quid Pro Quo

Tax Court to Exempt Orgs: Substantiate!

While we’re not even three full months into 2016, the United States Tax Court already has decided two cases, which disallowed tax deductions for donors based on a tax exempt entity’s failure to properly substantiate those...more

3/21/2016 - Charitable Donations IRS Non-Profits Tax Court Tax Deductions

Supreme Court Upholds Affordable Care Act Subsidies - Tax Alert: King v. Burwell

On Thursday June 25, the United States Supreme Court revealed its decision in King v. Burwell. In the 6-3 opinion, the Supreme Court held subsidies available to Exchange enrollees under the Affordable Care Act (“ACA”)...more

6/25/2015 - Affordable Care Act Health Insurance Health Insurance Exchanges King v Burwell Public Health Insurance Marketplace SCOTUS Subsidies

Wheaton College Order Changes Landscape of Contraceptive Mandate for Religious Nonprofit Organizations

Last Thursday, while many of us were preparing for the long weekend ahead, the U.S. Supreme Court was hard at work, issuing an order that may have far-reaching implications for religious nonprofit organizations. ...more

7/10/2014 - Burwell v Hobby Lobby Contraceptive Coverage Mandate Hobby Lobby Non-Profits Religious Freedom Restoration Act SCOTUS

Tax Alert: IRS Announces Further Restriction on One-IRA-Rollover-Per-Year Rule - More guidance forthcoming after reversal of its...

The Internal Revenue Service has announced that beginning as early as January 1, 2015, taxpayers will be limited to one IRA rollover in any 12-month period, regardless of the number of IRAs owned. (See Announcement 2014-15)....more

4/1/2014 - IRA IRA Rollovers IRS

South Carolina Supreme Court Rules on Tax Exemptions in Bodman v. South Carolina

Close to a year and a half after hearing oral arguments in Bodman v. South Carolina, the South Carolina Supreme Court has upheld the “seven caps” and “eighty seven exemptions” found under the State’s sales tax. (Op. No. 27248...more

5/8/2013 - Sales & Use Tax Tax Exemptions

Tax Alert: 'Medical Device Tax' Now in Effect

The accounting departments of many hospitals and medical practices are preparing for increased costs on medical supplies. Beginning January 1, 2013, new Section 4191 of the Internal Revenue Code (the “Code”) now imposes a...more

3/1/2013 - Hospitals Medical Device Tax Medical Devices Medical Supplies Physicians

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