Nonprofit Law, Labor & Employment Law, Tax Law

IRS Announces Plans To Look Into UBTI Reporting On A Broader Scale

by Deirdre Mitacek | Cullen and Dykman LLP on 5/17/2013

On May 8, 2013, the House Ways and Means Subcommittee on the Oversight of Tax-Exempt Organizations held a hearing on the College and University Compliance Project Final Report (“Final Report”) issued by the IRS on April 25,...more

IRS Releases College And University Compliance Project Final Report – Implications For All Tax-Exempt Organizations

by Douglas K. Anning, Virginia C. Gross, Bruce Hopkins, Thomas J. Schenkelberg | Polsinelli on 5/15/2013

On April 25, 2013, the IRS released its College and University Compliance Project Final Report, which updates the interim report issued in 2010. ...more

Five Years in the Making - IRS Releases Findings from Colleges and Universities Compliance Project

by Tyrone Thomas | Mintz Levin - Employment, Labor & Benefits on 5/13/2013

The IRS announced it is nearing completion of a five year long compliance project involving tax-exempt colleges and universities. The project, which began with questionnaires to 400 randomly-selected institutions, focused on...more

Recent 403(b) Developments

by King & Spalding on 5/8/2013

Background - 403(b) retirement plans are similar to 401(k) plans, but the employers who may establish 403(b) plans are limited to public schools, certain tax exempt employers (including religious and charitable...more

Skadden, Arps, Slate, Meagher & Flom LLP

"Exempt and Nonprofit Organizations Alert: IRS Addresses UBTI and Executive Compensation Issues"

by Fred T. Goldberg, Jr., Daniel Kurtz, Vivienne LaBorde, Emily Lam, J.J. Harwayne Leitner, Coleen McGrath, David O'Connell, Sarah Paul | Skadden, Arps, Slate, Meagher & Flom LLP on 5/8/2013

IRS Addresses Issues of Unrelated Business Taxable Income and Executive Compensation in Colleges and Universities Compliance Project Report - On April 25, 2013, the Internal Revenue Service (IRS) released its Final...more

Regulatory Focus on Colleges and Universities Is Increasing

by Marla K. Conley | Schnader Harrison Segal & Lewis LLP on 5/8/2013

In the last two weeks, both the IRS and Congressional officials announced major milestones in the increasing regulatory focus on colleges and universities. First, the IRS emphasized misreported taxable income and...more

IRS Issues Final Report on Colleges and Universities Compliance Project

by Edward Chaney, Matthew Elkin, Kimberly Eney, Alexander Reid, Celia Roady, Caroline Waldner | Morgan Lewis on 5/6/2013

Report offers lessons for many tax-exempt organizations on unrelated business taxable income and executive compensation....more

Recent IRS Guidance Concerning 403(b) Plans

by Lisa Berkowitz Herrnson | Proskauer - Not for Profit/Exempt... on 5/1/2013

Final Internal Revenue Code Section 403(b) regulations which became effective January 1, 2009 require that plan sponsors adopt written 403(b) Plan documents. ...more

IRS Releases Final Colleges and Universities Compliance Report: Reveals Significant Underreporting

by Richard Frazier, Elizabeth Mullen | Saul Ewing LLP on 5/1/2013

A recent report of the IRS’ Exempt Organizations (EO) division provides the results of a multi-year audit of tax-exempt colleges and universities regarding their compliance with IRS reporting requirements. The report focuses...more

Compensation and Unrelated Business Income are Focus of IRS Colleges and Universities Report

by Ropes & Gray LLP on 4/29/2013

Just a few weeks before many tax-exempt organizations file their annual Form 990, the IRS yesterday released its final report on the Colleges and Universities Compliance Project, which it had initiated in 2008 by sending...more

403(b) Plans – Correction Of Plan Errors

by Lisa Berkowitz Herrnson | Proskauer - ERISA Practice Center on 4/18/2013

Final Internal Revenue Code Section 403(b) regulations issued December 31, 2009 require that plan sponsors adopt written 403(b) Plan documents. A 403(b) Plan is a form of defined contribution retirement plan that may only be...more

403(b) Plans – Correction Due To Loss Of Tax-Exempt Status

by Lisa Berkowitz Herrnson | Proskauer - ERISA Practice Center on 4/18/2013

What happens if a tax-exempt organization becomes ineligible to sponsor a Section 403(b) Plan because it loses its exempt status under Internal Revenue Code Section 501(c)(3)? As an example, loss of tax-exempt status may...more

IRS Relief for 403(b) Retirement Plans

by Jessica Carter, David Glaser, Meridith Bogart Krell, Bernard O'Hare, Bruce Wolff | Patterson Belknap Webb & Tyler LLP on 3/22/2013

Recognizing that the requirement to have a detailed written plan document for a 403(b) retirement plan was a new and arduous task for many non-profit entities who sponsored such plans, the IRS has now published favorable...more

Why Employers Should Plan Now for Obamacare

by Joe Conley on 2/18/2013

Beginning in 2014, large employers will be subject to a potential tax penalty under the “shared responsibility” provisions of the Affordable Care Act’ (“ACA” or “Obamacare”). This is commonly known as the “play or pay”...more

IRS Issues Final and Temporary Regulations on Supporting Organizations

by Proskauer - Not for Profit/Exempt... on 1/10/2013

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

Tax Relief for Hurricane Sandy Victims

by Schnader Harrison Segal & Lewis LLP on 11/12/2012

Due to Hurricane Sandy’s impact, the Internal Revenue Service (IRS) has extended various tax filing and payment deadlines that occurred starting in late October. Affected individuals and businesses have until February 1,...more

IRS Issues Guidance on Hurricane Sandy Disaster Relief Efforts

by Proskauer - Not for Profit/Exempt... on 11/9/2012

In response to the severe damage caused by Hurricane Sandy, the IRS has issued several news releases that provide guidance to charitable organizations, employers, and individuals who want to help victims of Hurricane Sandy....more

Don’t Play and Also Pay: What Nonprofit Employers Need to Know about Navigating the Employer-Sponsored Health Coverage Mandate

by Venable LLP on 9/21/2012

The Internal Revenue Service (IRS) recently issued much-anticipated guidance regarding the application of the employer-sponsored health coverage mandate (often called the “play or pay rules” under health care reform). If a...more

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Nonprofit Law › Labor & Employment Law › Tax Law

IRS Announces Plans To Look Into UBTI Reporting On A Broader Scale

IRS Releases College And University Compliance Project Final Report – Implications For All Tax-Exempt Organizations

Five Years in the Making - IRS Releases Findings from Colleges and Universities Compliance Project

Recent 403(b) Developments

"Exempt and Nonprofit Organizations Alert: IRS Addresses UBTI and Executive Compensation Issues"

Regulatory Focus on Colleges and Universities Is Increasing

IRS Issues Final Report on Colleges and Universities Compliance Project

Recent IRS Guidance Concerning 403(b) Plans

IRS Releases Final Colleges and Universities Compliance Report: Reveals Significant Underreporting

Compensation and Unrelated Business Income are Focus of IRS Colleges and Universities Report

403(b) Plans – Correction Of Plan Errors

403(b) Plans – Correction Due To Loss Of Tax-Exempt Status

IRS Relief for 403(b) Retirement Plans

Why Employers Should Plan Now for Obamacare

IRS Issues Final and Temporary Regulations on Supporting Organizations

Tax Relief for Hurricane Sandy Victims

IRS Issues Guidance on Hurricane Sandy Disaster Relief Efforts

Don’t Play and Also Pay: What Nonprofit Employers Need to Know about Navigating the Employer-Sponsored Health Coverage Mandate

The Next Generation of Nonprofit Executive Compensation: The Keys to Withstanding IRS Scrutiny

Deadline Fast Approaching For Businesses Or Exempt Organizations To Claim A Tax Credit For Recently Hired Veterans.

Recent Developments for Exempt Organizations, Including 2011 Year in Review

How Nonprofits Can Avoid the Legal Pitfalls of Telecommuting Employees

Political Activities By Non-Profit Educational Institutions

Terminating a 403(b) Plan: Final Regulations Give a Green Light, but Employers Should Proceed with Caution

Top Ten Things a New Nonprofit General Counsel Should Investigate

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