Tax Business Organization Nonprofits

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Court Affirms California Attorney General’s Demand for Confidential Donor List

Unwelcome news for charities concerned with donor confidentiality - A recent court ruling upheld the position of the California Attorney General (AG) requiring that charities located or operating in California provide a...more

New York State Attorney General Issues Guidance on the Conflict of Interest and Whistleblower Policy Provisions of the New York...

The New York State Attorney General’s Charities Bureau recently issued written guidance on certain provisions of the New York Non-Profit Revitalization Act of 2013 (the “Act”), including provisions on audit oversight...more

Tax-Exempt Parent Companies with For-Profit Subsidiaries

Recently, tax-exempt organizations have inquired whether it was legally permissible to establish a for-profit subsidiary to perform profitable work developed by the non-profit parent. ...more

Changes to 2014 Form 990, Form 990-EZ, and Form 990-PF for Exempt Organizations

While the IRS made only minor changes to Form 990, Form 990-EZ, and Form 990-PF for the 2014 tax year, the IRS made significant revisions to Schedule A. ...more

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

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

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

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

Congressional Proposals for Nonprofit Tax Breaks and Extenders

In February, the House of Representatives passed several tax bills and the Senate Finance Committee approved several tax bills that, if ultimately enacted, would impact tax-exempt organizations....more

Tax Policy Update

NUMBER OF THE WEEK: 3,415. The number of people who renounced their citizenship in 2014 according to IRS data. This is one of the five highest totals on record since the U.S. Congress passed the Foreign Account Tax Compliance...more

Five Changes to the Tennessee Nonprofit Corporation Act That You Need to Know

The following are five important changes to the Tennessee Nonprofit Corporation Act (the Act) which became effective January 1, 2015: 1. Affirmative Disclosure Requirement to Report Up the Chain of Command; 2....more

Alert: Conversion of a Postsecondary Educational Institution from a For-Profit to a Nonprofit, Tax-Exempt Entity

The recent announcements that Grand Canyon University would explore nonprofit status and that Corinthian Colleges plans to sell a group of schools to a nonprofit entity have encouraged higher education companies to take a...more

Qualifying for 501(c)(3) Tax Exempt Status is Tricky

The entities in the following IRS Technical Advice Memorandum and Private Letter Rulings failed to qualify for tax exempt status because they were not operated exclusively for exempt purposes. An organization must be...more

IRS Releases Guidance on Private Business Use, and ACOs and Management Contracts

On October 25, 2014, the Internal Revenue Service (the IRS) released Notice 2014-67 that provides interim guidance on (i) participation in the Medicare Shared Savings Program through an accountable care organization (ACO) and...more

Perspectives - Trends and topics in not-for-profit management - September 2014

In this Issue: - Not-for-Profit Volunteers: HIPAA Compliance & Training - Not-for-Profit Spotlight: Project Sunshine - 10 Ways to Lose Your Not-for-Profit Status - Economic Development...more

Legal Alert: New York Tax Appeals Tribunal Reverses “Distorted” Knowledge Learning Decision and Provides Guidance for Proving...

On September 18, 2014, the New York State Tax Appeals Tribunal (Tribunal) decided its first combination case addressing the 2007 changes to New York’s combined reporting regime: Matter of Knowledge Learning Corporation and...more

Booster Club's Revenues: Supportive of a Charity or Reducing Parental Obligations? - Tax Court Finds Substantial Private Inurement...

Booster clubs have long been used as fundraising arms for affiliated sports organizations. Establishing a booster club as a 501(c)(3) public charity provides the added benefit of enabling contributors to booster clubs to...more

IRS Applies 20th Century Analysis To 21st Century Social Organization

Code §501(c)(7) provides an exemption from federal income tax for clubs organized substantially for pleasure, recreation, and other nonprofitable purposes if no part its net earnings inures to the benefit of a private...more

Charitable Planning with S Corporation Stock—Making It Work

Since 1998, charities have been able to own S corporation stock (“S stock”). However, the ownership of S stock by an exempt organization may result in either an unexpected tax burden or a liability rather than an asset for...more

IRS Introduces New Form 1023-EZ to Streamline Applications for 501(c)(3) Tax-Exempt Status

On July 1, 2014, the Internal Revenue Service (IRS) launched a new Form 1023-EZ, Streamlined Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code, that is intended to enable small...more

IRS Releases Streamlined Application for Tax-Exempt Status

The Internal Revenue Service (the “IRS”) has significantly streamlined the application process for small nonprofits seeking recognition as tax-exempt 501(c)(3) organizations through the release of a new application form on...more

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

Tax Law Blog: UPDATE: Form 1023 EZ Released for Small Nonprofits

It seems as soon as I blogged about the draft Form 1023-EZ, the IRS released the final form. So, this will serve as an update and follow-up to my June 30, 2014 post. on the Form 1023-EZ, the IRS has now released Form...more

The For-Profit Entity's Guide to Doing Business with Nonprofit Organizations

30-SECOND SUMMARY It may seem logical for certain for-profit organizations to enter into business arrangements with nonprofits. Although both parties can certainly benefit from such an arrangement, the nonprofit must be...more

In Landmark Ruling, Massachusetts SJC Upholds Tax Exemption for Charitable Conservation Land

On May 15, 2014, the Massachusetts Supreme Judicial Court (“SJC”) issued a landmark decision, New England Forestry Foundation, Inc. v. Board of Assessors of Hawley, SJC-11432 (May 15, 2014), upholding the tax exempt status of...more

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