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Audits Tax Exempt Entities

Sheppard Mullin Richter & Hampton LLP

IRS Audits & Ongoing Scrutiny of Nonprofit Hospitals – Key Background & Action Steps

The IRS is underway with conducting audits of 35 §501(c)(3) hospitals, which it announced in June 2024, with a particular focus on “community benefit.” Targeted hospitals appear to be those who reported low community benefit...more

Alston & Bird

NIL Collectives: Don’t Be Blindsided by an IRS Challenge

Alston & Bird on

If the IRS challenges the tax-exempt status of a name, image, and likeness (NIL) collective, the collective must understand how best to respond. Our Federal Tax Group details what NIL collectives need to know to make the cut....more

Fox Rothschild LLP

Beware of the Exempt Organization Examination: IRS Audits of Charities are Becoming More Common

Fox Rothschild LLP on

As the Internal Revenue Service ramps up its audit staff, its gaze is extending beyond the for-profit sector. IRS audits of public charities are also increasing. We have recently assisted several charities with their...more

BCLP

EO Update: e-News for Charities & Nonprofits - September 2021

BCLP on

Updated Procedures Related to Direct Contact in the Determination Process - On August 17, 2021, Exempt Organizations Rulings & Agreements (EO R&A) office issued Interim Guidance (IG) memorandum (TEGE-07-0821-0016) on...more

Seyfarth Shaw LLP

Coronavirus Update – Impact on Employee Benefit Plan Deadlines

Seyfarth Shaw LLP on

Seyfarth Synopsis: The SARS CoV-2 virus (“coronavirus”) has been declared a global pandemic by the World Health Organization. It’s fair to say that none of us have ever experienced a pandemic, or at least not on this level. ...more

McDermott Will & Emery

Corporate Law & Goverance Update - January 2020

McDermott Will & Emery on

Given evolving Delaware law, understanding the difference between “risk oversight” and “risk management” is an increasingly important board task. In the Marchand and Clovis decisions, the Delaware courts sent an important...more

Carlton Fields

US Treasury and IRS Targets for Audit

Carlton Fields on

On October 8, 2019, the U.S. Department of Treasury and the IRS released the 2019-2020 “Priority Guidance Plan” for the 12-month period running from July 1, 2019, through June 30, 2020. The plan sets out the agencies’...more

Nilan Johnson Lewis PA

501(r) Audits Are Here: What You Need to Know

Nilan Johnson Lewis PA on

The Affordable Care Act imposed new requirements on tax-exempt hospitals under Section 501(r) of the Internal Revenue Code. Section 501(r) and its implementing regulations present a complex framework intended to promote...more

Goulston & Storrs PC

Partnership Audit Reform Marches Forward

Goulston & Storrs PC on

As part of the current Bipartisan Budget Act of 2015, sweeping changes to the partnership audit rules could be imminent. The new rules would greatly simplify the IRS procedures for auditing partnerships and likely increase...more

Holland & Knight LLP

Religious Institutions: August 2014

Holland & Knight LLP on

If the Internal Revenue Service (IRS) had a moratorium on enforcing §501(c)(3) electioneering restrictions against churches and religious organizations, the IRS states that it has been lifted incident to the settlement and...more

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