Exceptions to the DAF Definition Under the Proposed Regulations
New Proposed Regulations Defining Donor Advised Fund Terms
End of Year Tax Planning: Tips for Healthcare Professionals and Practices
War of the Rosas
ATTENTION ALL CADETS!
Welcome to the spring edition of Legacy Matters, Nutter’s private wealth and nonprofit newsletter focusing on estate planning and philanthropy topics. In this issue, we analyze charitable deductions and required recordkeeping...more
Recent bills in the U.S. House of Representatives and Senate demonstrate legislators’ concerns about several issues related to nonprofits, including: (1) admissions practices at institutions of higher education; (2)...more
Welcome to EO Radio Show - Your Nonprofit Legal Resource. Episode 64 continues the exploration of the new proposed regulations important to the administration of Donor Advised Funds. The Internal Revenue Service and the...more
Massachusetts taxpayers will be able to deduct charitable contributions on their state income tax returns for charitable contributions made after January 1, 2023. The deduction will be allowed even if the taxpayer does not...more
Welcome to EO Radio Show - Your Nonprofit Legal Resource. Episode 63 explores new proposed regulations important to the administration of Donor Advised Funds (DAFs). The Internal Revenue Service and the Treasury Department...more
Have you considered establishing a donor advised fund as part of your year end giving? A donor advised fund is a type of charitable giving vehicle that allows you to make an irrevocable contribution to a charitable...more
As the 2023 tax year winds down, owners of individual retirement accounts (IRAs) might consider combining the 2023 tax benefits of charitable giving with a qualified charitable distribution (QCD) from their IRA....more
How planning can minimize the impact of income taxes - Until recently, estate planning strategies generally focused on removing as much wealth as possible from one’s estate to avoid the bite of federal estate tax....more
Charitable giving is a way for businesses and individuals to support the causes that align with their values while saving on taxes. This article will cover common questions associated with charitable giving that will...more
The August 2023 Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 5%, an increase from the July 2023 rate of 4.6%. The August applicable federal rate (“AFR”) for use with a sale...more
Despite uncertain conditions, a recent survey shows that approximately three out of four donors maintained their level of charitable giving in 2022 and expect to maintain or increase their giving in 2023. That said, the...more
A recent Tax Court case provides important guidance for donors and charities making and negotiating gifts of appreciated property. While generally donors who donate appreciated property to a public charity do not recognize...more
Every year, the IRS compiles a list of common scams that taxpayers may encounter – its so-called “Dirty Dozen.” Today, the Service wrapped up the annual Dirty Dozen list of tax scams for 2023 with a reminder for taxpayers,...more
What Is It? Where one stands on an issue of tax law may depend upon context and perspective, including the facts and circumstances one finds relevant, and whom one is counseling or representing. Tax advisers often find...more
A recent tax court case serves as a stern reminder to practitioners that (1) in order for a trust to qualify as a charitable remainder annuity trust (CRAT), the trust’s governing instrument must unambiguously provide for a...more
IRS Chief Counsel Memoranda: Cryptocurrency Donations Above $5,000 Need Qualified Appraisal and No Unrealized Cryptocurrency Loss Without Disposition - Introduction - The IRS recently released two chief counsel...more
Taxpayers ought to start getting ready to file 2022 taxes. Going through statements, receipts, tax forms and other financial documents when it’s time to prepare to file 2022 taxes in 2023 can be a downer for those...more
Ericka Adler, Roetzel shareholder and Health Law Practice Group Leader, is joined by fellow shareholder Donna Hartl on the #HealthLawHotSpot this week, to discuss what healthcare professionals and their practices should be...more
Robert F. Morris, Esq. will lead a discussion on important end of year estate planning topics, including: - End of year gifting including annual exclusion gifts; - Strategies for larger gifts; - Charitable gift...more
On November 9, 2022, in a 15-2 decision, the Tax Court held that the IRS improperly issued Notice 2017-10 in Green Valley Investors, LLC, et al. v. Commissioner of Internal Revenue, 159 T.C. No. 5. The Notice designated...more
Welcome to EO Radio Show – Your Nonprofit Legal Resource. In this episode, Cynthia Rowland will cover some federal Internal Revenue Code rules that charitable organizations and their donors need to know in order to make sure...more
The year-end is approaching, but you still have time to work on your 2022 tax planning. Consider giving to your favorite charity to make this holiday season merry. Planned charitable giving provides you a way to maximize...more
Tax Litigation: The Week of September 26th, 2022, through September 30th, 2022 Patitz, Moody v. Comm’r, T.C. Memo. 2022-99 | September 27, 2022 | Weiler, J. | Dkt. No. 2784-19 Powell and Iakovenko v. Comm’r, T.C. Summary...more
For over 15 years, I have represented tax-exempt charitable entities—mega, large, medium, small, and everything in between. Through that experience, I have seen the best of times and the worst of times (and everything in...more