Nonprofits Tax

Read need-to-know updates, commentary, and analysis on Nonprofits issues written by leading professionals.
News & Analysis as of

Wealth Management Update - April 2015

Obama Administration Announces Revenue Proposals - The Obama Administration has recently announced its Fiscal Year 2016 Revenue Proposals in its annual "Greenbook." The Greenbook sets forth the Administration's proposals...more

Philadelphia's Nonprofit Recertification Requirement Abolished

On April 7, 2015, Mayor Michael Nutter signed Bill No. 150144 into law, thereby repealing a 2013 Ordinance that had required Philadelphia’s nonprofit property owners to annually recertify that their properties continued to...more

New York State Attorney General Issues Guidance on the Audit Oversight Provisions of the New York Non-Profit Revitalization Act of...

The New York State Attorney General’s Charities Bureau recently issued guidance on one of the key provisions of the New York Non-Profit Revitalization Act of 2013 (the “Act”). That guidance, titled Audit Committees and the...more

IRS Ordered to Make Non-Profit Form 990s Available In a Useful Electronic Format

Federal agencies cannot avoid their obligation to disclose public records in modern electronic formats merely by invoking budgetary constraints, a judge has ruled in a rare decision exploring the scope of the Electronic...more

Financial Statements Must Reflect Services Donated from Affiliates

As a way to conserve precious resources, not-for-profits often share or “pool” personnel/services such as accounting, legal, HR or payroll with a for-profit affiliate. This often occurs at no cost to the not-for-profit....more

CRA Charities Directorate Publishes 2015 Program Update

The CRA Charities Directorate has published its 2015 Program Update. The CRA Charities Directorate has in recent years been actively updating and promoting the dissemination of its charity information, seeking the views of...more

Tax Policy Update

NUMBER OF THE WEEK: $1.4 Trillion. The estimated total of individual income taxes the Internal Revenue Service is expecting to collect on April 15. The U.S. House of Representatives has returned from recess and is planning to...more

Recent Developments and Trends for Exempt Organizations

Recent months have been eventful for exempt organizations and their advisors. While fundamental tax reform remains a possibility, with a number of proposals on the table that would significantly change the rules for exempt...more

Philadelphia Eliminates Tax-Exempt Recertification Requirement

Owners of tax-exempt property in the City of Philadelphia no longer need to worry about submitting recertification forms regarding the continued use of their property. On April 7, 2015, Mayor Michael Nutter signed Bill...more

IRS Commissioner Says IRS is “Under New Management;” What’s Happened Over the Past Year In the IRS Affecting Tax-Exempt...

On March 31, 2015, the Commissioner of the IRS reported in a speech to the National Press Club that the IRS is “under new management” due to major changes in management staff over the last few years. Many of these management...more

The TE/GE FY 15 Program Letter

In December of 2014 the Commissioner of the Tax Exempt & Government Entities Division of the IRS (TE/GE), Sunita Lough, issued the TE/GE Program Letter for FY 2015. ...more

Health Care: New IRS Requirements For Charitable Hospitals (4/15)

The IRS published its long awaited final rule December 31, 2014 to implement certain requirements of the Affordable Care Act (the ACA). The ACA added a new provision in Section 501(r) of the Tax Code, which creates additional...more

Documenting Your Gifts to Charity: Don’t Jeopardize Your Charitable Deduction

April 15th is fast approaching. This is the time of year when many of our clients ask us how to properly document charitable contributions. In several recent cases, donors have been denied all or a portion of their...more

HB 19 Aligns Ohio and Federal Tax Codes

Bill may impact your 2014 Ohio tax return - On April 1st, Governor Kasich signed HB 19 (the Bill) to conform Ohio’s tax code to the Internal Revenue Code (IRC). HB 19 specifically amends section 5701.11 of the Ohio...more

Extension for Philadelphia Nonprofit Property Owners Filing to Maintain Tax Exemption

Nonprofit organization owners of tax-exempt real property located in Philadelphia were required to submit information by March 31, 2015 for their properties to continue to be exempt from tax for 2016. The Philadelphia Office...more

Corridors Spring 2015 - News for North Carolina Hospitals

In This Issue: - Nonprofit Hospitals Face Additional Regulatory Burdens in Financial Assistance and Debt Collection - Placing Medicare Beneficiaries Into "Observation Status" - Recent Second Circuit Decision...more

NFL At Risk Of Losing Non-Profit Status?

A recent proposal by U.S. Congressman Jason Chaffetz, the Chairman of the Committee on Oversight and Government Reform, would eliminate the tax-exemption under Internal Revenue Code section 501(c)(6) for professional sports...more

Reprieve Granted to Philadelphia Tax-Exempt Property Owners

In response to an overwhelming outcry from the Philadelphia nonprofit community, the Philadelphia Office of Property Assessment (OPA) has extended to June 1, 2015 the filing deadline for nonprofits to certify that they...more

Nonprofit Hospitals Face Additional Regulatory Burdens in Financial Assistance and Debt Collection

Roughly 60 percent of hospitals nationwide either have received or are seeking tax-exempt status under the United States Treasury Department (Treasury) and Internal Revenue Service (IRS) rules and regulations. With new final...more

Trends, Pitfalls and Opportunities in Celebrity Philanthropy

Athletes and celebrities have a long and storied track record with charitable causes. A celebrity can turn an otherwise unknown cause into a charitable powerhouse simply by lending a high profile name and likeness. Today,...more

IRS Finalizes Revenue Procedure on 501(r) Corrective Measures

On March 10, 2015, the Internal Revenue Service (IRS) released Revenue Procedure 2015-21 (Revenue Procedure), which will be officially published on March 30, 2015, in Internal Revenue Bulletin 2015-13. The Revenue Procedure...more

Philadelphia Reduces Requirements for Certifications for Continued Real Estate Tax Exemptions

The Philadelphia Office of Property Assessment (OPA) recently mailed notices to each owner of property listed as tax exempt on the OPA’s records indicating that the owner must file a form to certify that the property...more

OPA Makes It Easier for Tax-Exempt Owners of Real Property To Recertify Tax Exemptions

The Office of Property Assessment (OPA) has simplified the process for owners of tax-exempt real estate in Philadelphia to recertify that their properties are, in fact, tax-exempt. The OPA's original notices to property...more

New IRS Revenue Procedure Finalizes Guidance Regarding Correction and Disclosure of Charitable Hospitals’ Failures to Meet the...

On March 10, 2015, the Internal Revenue Service (IRS) issued Revenue Procedure 2015-21, which provides guidance regarding correction and disclosure procedures applicable to certain failures by charitable hospitals to meet the...more

Charitable Hospitals: Financial Assistance Policies

The Internal Revenue Service (IRS) has issued the final section 501(r) regulations, implementing the amendments to the Internal Revenue Code under the Affordable Care Act and providing regulatory guidance for tax-exempt...more

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