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Tax Nonprofits Art, Entertainment & Sports

Read need-to-know updates, commentary, and analysis on Tax issues written by leading professionals.

Ole Miss Substantially Prevails in Tax Court Case over Taxability of Coach Appearances

by Butler Snow LLP on

Tax exempt organizations must report and pay tax on their “unrelated business income.” Butler Snow recently represented The University of Mississippi (“UM”) in a federal income tax dispute in the United States Tax Court...more

Contributions of Art: Elements of a “Boring” Charitable Contribution Deduction

by M. Robinson & Company, P.C. on

This article highlights some of the more critical income tax issues that taxpayers and their advisors must address when claiming the charitable contribution deduction for the gift of art to art museums. This article does not...more

NFL Gives Up Tax-Exempt Status

Earlier this year, I posted about the possibility that the NFL may lose its tax exempt status. The NFL has decided instead to give up its tax-exempt status. It has been estimated that the tax-exempt status only saved the...more

Recent Developments and Trends for Exempt Organizations

by Ropes & Gray LLP on

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

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

Trends, Pitfalls and Opportunities in Celebrity Philanthropy

by Stinson Leonard Street on

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

Recent Developments and Trends for Exempt Organizations

by Ropes & Gray LLP on

2013 was something of a lost year for the Exempt Organizations (EO) Division of the IRS. In the spring, the Division was embroiled in a controversy involving the targeting of conservative advocacy groups that led to the...more

Advanced Estate and Tax Planning for Art and Other Fine Collections

by InKnowVision on

A composite of studies of trust and estate attorneys, trust officers, and financial planners revealed that: • Fewer than 10% of plans for their clients addressed art, antiques, and collectibles • Fewer than 10% used art...more

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