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Foreign Tax-Exempt Organizations Exempt from Withholding Tax

Investment funds, including private equity funds, often receive capital contributions from tax-exempt organizations. These tax-exempt institutions may include U.S. and foreign pension funds, as well as U.S. and foreign...more

New York Court Strikes Down Regulations Limiting Executive Compensation and Administrative Expenses

A New York court has held that the State’s regulatory limits on executive compensation and administrative expenses for entities that receive state funds unconstitutionally exceed proper regulatory authority. The regulations,...more

Beware of Entering into Business with your Spouse

The U.S. Fourth Circuit Court of Appeals, which covers Maryland, recently rendered a tax decision noteworthy to all married couples who participate in their business together. The case, Johnson v. U.S., decided November 5,...more

Taxes and Politics Collide in New IRS Guidelines for 501(c)(4) Organizations: IRS Proposes to Restrict Political Activities of...

On November 29, 2013, the Internal Revenue Service (“IRS”) issued proposed rules, “Guidance for Tax-Exempt Social Welfare Organizations on Candidate-Related Political Activities” (78 Fed. Reg. 71535-71542 (Nov. 29, 2013)),...more

Assets Held by Charitable Organizations Are Safe From Claims of Creditors in Bankruptcy Cases . . . Or Are They?

A charity, fulfilling its charitable mission, is successful in raising money for a variety of worthy projects - rebuilding after a natural disaster, medical education and care, summer camp experiences for disadvantaged...more

Dual Track Auctions for Distressed Companies – Interview with Rich Moche, Member, Mintz Levin  [Video]

Attorney Rich Moche, Chair of Mintz Levin's Public Finance Practice, talks about an innovative approach to maximizing the value of a distressed asset....more

Social Entrepreneurship—Too soon?

Many entrepreneurs are intrigued by the new buzzwords sweeping the community –“social entrepreneurship.” Social entrepreneurship seeks to combine the most popular features of for profit entities (namely, eh, profit) with the...more

Overlapping Public Disclosure Requirements Can Be Complicated

Much controversy attends the ability of tax exempt 501(c)(4) social welfare organizations to make expenditures in connection with candidates in U.S. elections....more

Internet Fundraising for Tax-Exempt Organizations

The IRS recently released an Information Letter, written in response to a congressman’s inquiry about an unidentified charity’s unidentified practices, confirming that Section 501(c)(3) organizations may use the internet to...more

Why the Classic Legal Terminology of the Anglo-American Trust is in French, Not English: The “Law French” Phenomenon

The institution of the trust, a creature of the English Court of Equity, evolved deep in the bosom of the Anglo-American legal tradition. France, a civil jurisdiction, lacks a legal institution that is truly comparable. Her...more

IRS Issues Final and Temporary Regulations on Supporting Organizations

Many practitioners have been anxious to leaf through regulations to confidently determine whether an organization is a “functionally integrated” or “non-functionally integrated” Type III supporting organization, and the...more

IRS Issues Regulations on Type III Supporting Organizations

Effective December 28, 2012, the IRS published final regulations on the qualification requirements for “Type III” supporting organizations (SOs), and issued temporary regulations that establish a payout requirement for...more

The American Taxpayer Relief Act of 2012: Stealth Impact on Charities

The American Taxpayer Relief Act of 2012 (“TRA”) (H.R. 8) passed by the Senate on January 1, 2013, passed by the House of Representatives early on January 2, 2013 and signed by President Obama, in large part addresses income...more

A.G. Schneiderman Announces New Electioneering Disclosure Requirements for Nonprofits

On December 12, 2012, New York Attorney General Eric Schneiderman announced new proposed disclosure rules for New York-registered nonprofits designed to bring more transparency to electioneering activities by tax-exempt,...more

SBA Economic Injury Disaster Loans Now Available In Michigan

The U.S. Small Business Administration (SBA) is offering federal economic injury disaster loans in eight Michigan counties that had excessive rain last August....more

Preparing for the 3.8% Medicare Surtax on Net Investment Income

The Patient Protection and Affordable Care Act of 2010 (Affordable Care Act) institutes a new 3.8 percent Medicare surtax on net investment income effective January 1, 2013. In addition, absent congressional action to extend...more

IRS Issues Proposed Regulations To Make International Grant-Making By Private Foundations Easier

On September 24, 2012, the IRS issued Proposed Regulations §§ 53.4942(a)-3 and 53.4945-5 in order to reduce barriers to international grant-making made by private foundations. Secretary of State Hilary Clinton announced the...more

IRS Issues New Regulations to Facilitate Foreign Grantmaking

New rules expand the class of tax practitioners qualified to issue good-faith determinations regarding foreign-grantee equivalency; IRS seeks comments on further amendments to current regulations....more

It Is Okay To Make A Charitable Contribution To An LLC Wholly Owned By A §501(C)(3) Organization, If You Were Worried About That

In 1997, the IRS issued final regulations providing that a domestic LLC wholly owned by single owner could be disregarded as a entity separate from its owner and its operations treated as a branch of its owner. Consistent...more

New York State Agencies Issue Proposed Regulations Regarding the Administration Expenses and Executive Compensation of...

Pursuant to Executive Order 38 issued by Governor Cuomo, thirteen New York State agencies released very similar proposed regulations on May 16, 2012, placing a limit on the funds that can be used for administrative expenses...more

Is a Company Foundation Necessary?

Originally published in the Puget Sound Business Journal 2012. When Starbucks rolled out the Create Jobs for USA program, it was the Starbucks Foundation that provided seed funding to the Opportunity Finance Network....more

Proposed Regulations Offer New Examples of Program-Related Investments

New examples describe additional charitable purposes and investment structures for PRIs. The Internal Revenue Service (IRS) and the Treasury Department have issued long-awaited proposed Treasury Regulations providing...more

Proposed Regulations provide helpful new examples of “program-related investments”

As repeatedly promised in its work plan, the IRS recently issued Proposed Regulations containing several new examples of investments that qualify as a “program-related investment” (a “PRI”) for purposes of avoiding potential...more

Tax Topics - November 2011

In This Issue: - CPP Maximum Pensionable Earnings . . . . 4 - Money Purchase Limits and RRSP Limits . . . . 4 - Charities Connection No. 9 . . . . 4 - Charitable Registration of Arts Organizations . . ....more

Tax-Exempt Lending For Community Banks

Government entities and nonprofit 501(c)(3) organizations are among the most active borrowers in the tax-exempt bond markets. Historically, banks and other financial institutions have been involved in lending to...more

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