Proskauer - Not for Profit/Exempt Organizations

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Firm Profile: Proskauer Rose LLP
Eleven Times Square
(Eighth Avenue & 41st Street)
New York, NY 10036-8299, United States
Phone: 212.969.3000
Fax: 212.969.2900
Areas of Practice
  • Commercial Law & Contracts
  • Finance & Banking
  • Government
  • International Law & Trade
  • Labor & Employment Law
  • Litigation
  • Mergers & Acquisitions
  • Real Estate
  • Taxation
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Other U.S. Locations
  • California
  • D.C.
  • Florida
  • Illinois
  • Louisiana
  • Massachusetts
  • New Jersey
  • New York
Other Countries
  • Brazil
  • China
  • France
  • Hong Kong
  • United Kingdom

UPDATE: President Trump Signs “Johnson Amendment” Executive Order Limiting Treasury’s Actions Against Religious Organizations Engaged in Political Campaign Activities

On May 4, 2017, President Trump signed an executive order that directs the executive branch to limit its enforcement of the “Johnson Amendment.” As previously reported, the Johnson Amendment prohibits organizations that are…more
 /  Constitutional Law, Elections & Politics, Labor & Employment Law, Nonprofit Law, Taxation

Update on the Department of Labor’s New Fiduciary Rules and Subsequent Challenges

On April 6, 2016, the Department of Labor under the Obama administration issued a new final rule and exemptions addressing when a person providing investment advice with respect to an employee benefit plan or individual…more
 /  Elections & Politics, Finance & Banking, Labor & Employment Law, Nonprofit Law, Securities Law

Brooklyn Supreme Court Recognizes Private Right of Action for Not-for-Profit Employees under New York Nonprofit Revitalization Act Whistleblower Policy Requirement

Not-for-Profit Corporation Law (“NPCL”) § 715-b, enacted as part of the New York Nonprofit Revitalization Act, requires New York not-for-profit corporations with 20 or more employees and annual revenue in excess of $1 million to…more
 /  Civil Procedure, Civil Remedies, Civil Rights, Labor & Employment Law, Nonprofit Law

Is It the End of the Johnson Amendment as We Know It?

While speaking at the National Prayer Breakfast on February 2, 2017, President Trump reaffirmed his commitment to repeal the law that restricts organizations that are tax exempt under Section 501(c)(3) of the Internal Revenue…more
 /  Constitutional Law, Elections & Politics, Nonprofit Law, Taxation

TIC Form SHC Deadline Approaching to Report U.S. Ownership of Foreign Securities

The U.S. Department of the Treasury recently released a revised Form SHC (with corresponding instructions), which is part of the Treasury International Capital (TIC) data reporting system. Form SHC is the mandatory five-year…more
 /  Commercial Law & Contracts, International Law & Trade, Nonprofit Law, Securities Law, Taxation

IRS Announces the Last Day of the Remedial Amendment Period for 403(b) Plans

The Internal Revenue Service recently issued Revenue Procedure 2017-18, which provides that the last day of the remedial amendment period for Code Section 403(b) retirement plans will be March 31, 2020. As discussed below, this…more
 /  Finance & Banking, Labor & Employment Law, Nonprofit Law, Taxation

Recaps from Proskauer’s 21st Annual Trick of Treat Tax Exempt Seminar

Proskauer’s 21st Annual Trick or Treat Seminar was held on Thursday, October 27. The Seminar discussed: Best Practices for Document Retention: One Size Does Not Fit All..…more
 /  Finance & Banking, Health, Labor & Employment Law, Nonprofit Law, Taxation

New Electronic Form 8976 to Alert IRS About Section 501(c)(4) Status; 1023-EZ Application Reduced to $275

The Protecting Americans from Tax Hikes (“PATH”) Act of 2015, enacted in December 2015, requires organizations to notify the IRS if they desire to operate under Section 501(c)(4) of the Internal Revenue Code (“Code”). (Only…more
 /  Finance & Banking, Nonprofit Law, Taxation

Proposed Regulations Issued for Supporting Organizations

On February 19, 2016, the IRS and Treasury Department issued proposed regulations regarding (i) prohibitions on certain contributions to Type I and Type III supporting organizations and (ii) requirements for Type III supporting…more
 /  Business Organizations, Finance & Banking, Nonprofit Law, Taxation

IRS To EOs: We Can’t Help

Every January, the IRS releases a series of revenue procedures detailing how organizations can obtain private letter rulings and determinations and listing issues on which the IRS will not rule during the coming year. This…more
 /  Business Organizations, Nonprofit Law, Taxation

Recaps from Proskauer’s 20th Annual Trick or Treat Tax Exempt Seminar

Proskauer’s 20th Annual Trick or Treat Seminar was held on Friday, October 30. The Seminar discussed: - Non-Profit Revitalization Act of 2013: Recent Developments and Outstanding Issues - Recent Developments in…more
 /  Finance & Banking, Labor & Employment Law, Nonprofit Law, Securities Law, Taxation

IRS Encourages Private Foundations to Consider Charitable Purposes in Investing Its Assets

As we previously reported, the IRS has updated its guidance with helpful examples concerning program-related investments for private foundations. In its recently issued Notice 2015-62, the IRS provides further assurance that…more
 /  Finance & Banking, Nonprofit Law, Securities Law, Taxation

New Flexibility for Joint Ventures Using Tax-Exempt Bond-Financed Property

On October 26, 2015, the IRS released final regulations under Sections 141 and 145 of the Internal Revenue Code concerning the use of property financed with tax-exempt bond proceeds. The bulk of the new regulations fill a…more
 /  Nonprofit Law, Real Estate - Commercial, Taxation

IRS Proposes Rules for Donee Charitable Donation Reporting

On September 16, 2015, the IRS issued proposed regulations concerning the time and manner for donee organizations to file information returns that report required information about charitable contributions. The proposed…more
 /  Business Organizations, Nonprofit Law, Privacy, Taxation

Attorney General Issues Guidance On State Not-for-Profit Law

On April 13, 2015, the New York Attorney General’s office released two guidance documents addressing key provisions of the New York Not-for Profit Corporation Law (the N-PCL) enacted as part of the Non-profit Revitalization Act…more
 /  Business Organizations, Nonprofit Law
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