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Section 501(c)(4) Organizations Subject to IRS Notice Requirement

Nonprofit entities that intend to operate as tax-exempt organizations described in section 501(c)(4) of the Internal Revenue Code (Code) are subject to new reporting requirements with the IRS. Specifically, newly-enacted...more

IRS Guidance on Section 457: What Non-Profit and Governmental Employers Need to Know (Part 2)

We're back with the second installment in our series on the IRS's Section 457 proposed rules. The first alert covered Section 457(f) basics and discussed the meaning of "deferred" compensation....more

New IRS Notice Requirement for 501(c)(4) Organizations ** September 6 Filing Deadline Fast Approaching **

On July 8, 2016, the Internal Revenue Service (IRS) issued Revenue Procedure 2016-41 implementing a provision of the Protecting Americans from Tax Hikes Act of 2015 (the “PATH Act”). The provision, Section 405 of the PATH...more

Election Year Updates for Section 501(c)(4) Social Welfare Organizations

The Protecting Americans from Tax Hikes Act of 2015, or the PATH Act, made several changes to tax law applicable to section 501(c)(4) organizations operating this election year. In addition, two relatively recent IRS denials...more

Taylor English victory in litigation against IRS

Our client, Linchpins of Liberty, is a non-profit organization that, along with roughly 37 other clients, applied for non-profit status under IRC Sections 501(c)(3) or 501(c)(4). Because of their names, the IRS failed to...more

Remembering Four Years Ago, Will Tax Reform Come out of This Lame Duck Session of Congress?

No matter who wins the White House in November, the new president’s agenda will include tax reform. But changes to our tax laws need not wait until after inauguration day, as we learned four years ago when the “fiscal cliff”...more

Changes to Compensation Rules for Tax-Exempt Entities

?Special rules apply to compensation arrangements of tax-exempt entities. If the arrangement does not comply with the rules, then the amount of compensation subject to the arrangement is taxed to the employee as soon as it is...more

New IRS notification process announced for 501(c)(4) nonprofits

Earlier this month, the US Internal Revenue Service (IRS) released its long-awaited temporary regulatory framework implementing the new statutory notification requirements placed on 501(c)(4) nonprofit organizations by the...more

New Proposed 457 Regulations May Impact Deferred Compensation Arrangements Maintained by Tax-Exempt and Governmental Employers

On June 21, 2016, concurrent with its issuance of proposed regulations under Code section 409A, the IRS also issued proposed regulations under Code section 457, which address deferred compensation arrangements covering...more

IRS Denial of Accountable Care Organizations Raises More Questions Than It Answers

In a recent ruling, PLR 201615022, the IRS denied tax exemption to an accountable care organization on the basis that the organization was conferring private benefit on its participating physicians by negotiating shared...more

IRS Issues Proposed Regulations Under Code Section 457 Affecting Deferred Compensation Plans of Tax-Exempt Organizations

The Internal Revenue Service recently issued proposed regulations under Section 457 of the Internal Revenue Code (the “Code”) that prescribe rules regarding deferred compensation plans sponsored by state and local governments...more

What Does the Chan Zuckerberg Initiative Mean for Modern Philanthropy?

In an open letter to their newborn daughter last December, Facebook CEO Mark Zuckerberg and wife Priscilla Chan announced they will eventually give 99 percent of their Facebook shares during their lives to a variety of...more

Proposed Regulations Issued on Deferred Compensation Arrangements for Tax-Exempt Organizations

Today, Treasury and the IRS released proposed regulations under §457 of the Code, which governs the tax treatment of nonqualified deferred compensation paid to employees and independent contractors by tax-exempt organizations...more

Form 1023-EZ Filers Benefit From Reduced Fee

In July of 2014, the Internal Revenue Service (IRS) introduced a shorter application form to help small charities apply for 501(c)(3) tax-exempt status more easily. At that time, the Form 1023-EZ required a $400 user fee to...more

American Hospital Association Urges IRS To Affirm that Tax-Exempt Hospitals Can Participate in Non-Medicare ACOs

The American Hospital Association (AHA) has written to John Koskinen, Commissioner of the Internal Revenue Service (IRS), and Mark Mazur, Assistant Secretary for Tax Policy at the Treasury Department, raising concerns about...more

Proposed Disregarded Entity Regulations: Potential Implications for Charities

On May 10, 2016, the Internal Revenue Service (“IRS”) published proposed regulations that would impose additional reporting and record-keeping requirements on domestic “disregarded entities” that are wholly owned (directly or...more

4 Takeaways from Council on Foundations 2016 Annual Conference

From April 9 to April 12, I had the good fortune to be part of the Council on Foundations 2016 Annual Conference. The Council welcomed nearly 1,400 leaders in the philanthropic sector to Washington, D.C., for plenary programs...more

Program Related Investments: Final Regulations

Final Regulations Highlight the Broad Range of Available PRI Purposes, Recipients and Financial Structures - Final program related investment (PRI) regulations released and effective on April 25, 2016 illustrate the...more

The Boomerang Effect and Tax Exempt Organizations

The Protecting Americans from Tax Hikes (“PATH”) Act of 2015, contained a provision by which tax-exempt organizations (a “TO”) could challenge revocation of exempt status by virtue of the filing of a declaratory judgment in...more

Breaking News: PRI Examples Are Finalized, with Improvements

Yesterday, Treasury and the Internal Revenue Service (IRS) finalized the regulations describing nine new program-related investment (PRI) examples that were first proposed on April 19, 2012. The final regulations incorporate...more

Corporate Tax Reform Proposal Would Raise Taxes on Exempts

Legislation could impose new taxes on dividend and interest income of tax-exempt entities. The Senate Finance Committee is reportedly formulating a legislative proposal to integrate the corporate and individual tax...more

Brazil: newly issued regulations from tax authorities on the tax and currency exchange voluntary disclosure and amnesty program

This article is aimed at assisting Brazilian tax residents, mainly individuals, interested in learning more about the current tax and currency exchange voluntary disclosure and amnesty program (RERCT) established in Law No....more

IRS Regulatory Guidance for Supporting Organizations

The Pension Protection Act of 2006 made significant changes to the rules applicable to supporting organizations, and in particular Type III supporting organizations. The latest regulatory guidance from the IRS continues the...more

Unique Executive Compensation Issues for Tax Exempt Organizations [Video]

Nexsen Pruet tax and employee benefits attorney Sue Odom continues her video series. In this installment, Sue discusses how exempt organizations are unique when it comes to structuring executive benefit programs. Exempt...more

Act Now to Preserve Your 2015 Charitable Deductions

5 Ways to Be Diligent with Charitable Gifts of Cash Remember that formal benefit dinner you attended last fall? The contentious battle for that golf package at the charity auction in the spring? Your donation to the...more

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