News & Analysis as of

Charitable Donations

More Hurricane Relief & Expansion of DoL Relief to Hurricane Irma

by Winstead PC on

Leave donation program was extended to assist victims of Hurricanes Irma today. The new leave donation program permits an employee to donate his leave to a charitable organization that is eligible to receive charitable...more

In The Aftermath Of A Hurricane: How To Avoid Fraud, Waste, And Abuse

Sadly, history repeats itself. Disasters can bring about the best, and sometimes the worst, in human behavior. So can disaster cleanups. From price gouging to fraud, there will always be opportunists on the horizon following...more

Hurricane Recovery Client Alert: Establishing a Charitable Leave Donation Program

by Morgan Lewis on

Tips on setting up a pooled fund of employee leave by giving employees the option of donating leave that can be converted into cash contributions to charities assisting the victims of Hurricane Harvey....more

The Bubbler: September 2017

What is happening in employment law? We will be providing you with quick employment law updates on a bi-monthly basis in a new series called “The Bubbler.” It will let you know what’s what and who’s who in the...more

Retailers to the Rescue

by Goulston & Storrs PC on

Hurricane Harvey has traumatized southeastern Texas. With unprecedented rainfall, there are many people who need urgent help. The competitive retail market can be difficult and wonderful all at the same time. We see (time and...more

Wealth Management Update - September 2017

by Proskauer Rose LLP on

September Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The September § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and...more

Beware of Fundraising Scams Following Hurricane Harvey

Following the catastrophic flooding caused by Hurricane Harvey in the Gulf Coast, many local and national nonprofits quickly mobilized to respond to survivors’ immediate needs and begin planning for the long-term recovery of...more

Making an Effective (and Tax Deductible) Donation for Disaster Relief

by Moskowitz LLP on

Relief efforts are underway to assist victims of Hurricane Harvey and those affected by the catastrophic flooding in Texas and Louisiana. Many well-meaning Americans are making donations through a variety of organizations....more

Courts Issue Victories To Conservation Easement Donors

by Fox Rothschild LLP on

August brought three wins for taxpayers who donated conservation easements that were challenged by the IRS. In all of the cases, terms of the conservation easement deed document carried the day....more

Hurricane Harvey Client Alert: How Employers and Employees Can Help Those in Need

by Morgan Lewis on

A variety of tax-favored vehicles exist for employers and their employees to donate cash or even accrued leave to assist those impacted by Hurricane Harvey’s devastation....more

Still More On Suing The CEO For Social Activism

by Allen Matkins on

Last week, I devoted several posts to the question of suing the CEO for social activism. The catalyst for the discussion was an August 17, 2017 Op-Ed piece by Jon L. Pritchett and Ed Tiryakian in The Wall Street Journal. ...more

Department of Revenue Issues Favorable Ruling for Tax Credit Scholarship Donors - State & Local Tax Alert: Alabama Edition

Since the landmark Alabama Accountability Act was enacted in 2013, allowing individual and corporate donors to provide scholarship funds for underprivileged children in our state who are zoned for underperforming public...more

Fifth Circuit Vacates Denial of Charitable Tax Deduction For Conservation Easements

On August 11, the U.S. Court of Appeals for the Fifth Circuit decided the case of BC Ranch II, LP, et al., v. Commissioner of Internal Revenue, which involved charitable tax deductions based on the creation of conservation...more

New Cases Provide Mixed Messages to Conservation Easement Donors

Fifth Circuit encourages flexibility for conservation easement deductions in Bosque Mountain Ranch, while Tax Court makes it difficult for farmers in Rutkoske. Two important conservation easement opinions were handed down...more

Failure to Disclose Adjusted Basis on Disclosure Form Costs Taxpayer $33M+ Charitable Deduction

by Charles (Chuck) Rubin on

Under Treas. Regs. §1.170A-13, taxpayers making substantial noncash charitable contributions are required to disclose information regarding the contribution on Form 8283. ...more

Draft tax legislation for 2017 released

by Hogan Lovells on

Following the 2017 Budget presented before Parliament on 22 February 2017, the draft tax legislation for the specific tax proposals was released on 19 July 2017 for comment. Comments should be made by 18 August 2017. ...more

Charitable Giving Strategies

by Bowditch & Dewey on

If you have been looking for ways to give back this summer, you might want to try something different. The majority of people donate to charitable organizations through gifts of cash, but this may not be the most...more

Diving into Family Philanthropy (Segment IV): Family Philanthropy – Where to Begin?

In our previous posts on family philanthropy, we addressed the benefits of family philanthropy, choosing the right giving vehicle, and investing for impact. In this final post in our four-part series, we discuss how to get...more

What the New Kansas Income Tax Bill Will Mean for Individuals and Businesses

by Stinson Leonard Street on

The saga of Kansas income tax law changes concluded earlier this week when Kansas lawmakers overrode Gov. Sam Brownback's veto of a bill that dismantled the governor's signature tax cuts. With the state facing an estimated...more

Tax Reform and the Potential Impact on Tax-Exempt Organizations

by Holland & Knight LLP on

Both the Trump Administration and key leadership in the U.S. House of Representatives and Senate are continuing their focus on tax reform. Although details are being withheld until the Republican leadership in the House,...more

Is a charitable IRA rollover a viable option?

For those age 70½ or older who plan to make charitable donations this year, qualified charitable distributions from an IRA, also known as charitable IRA rollovers, can provide significant tax benefits. This article details...more

Diving into Family Philanthropy (Segment III): Making your family foundation’s assets work as hard as its grants

Family foundations that distribute grants to worthy charitable organizations to accomplish their philanthropic goals are a familiar part of the charitable landscape. While grant making is an important part of the work of...more

Massachusetts Supreme Judicial Court Ruled Irrevocable Income-Only Trusts a Viable Tool in Long-term Care Planning

by Bowditch & Dewey on

In Mary E. Daley v. Secretary of the Executive Office of Health and Human Services and Lionel C. Nadeau v. Director of the Office of Medicaid, which were consolidated in an appeal to the Massachusetts Supreme Judicial Court,...more

Podcast - Shrink the Section 457A Tax on Hedge Fund Management and Incentive Fees and Expand Your Impact

by Ropes & Gray LLP on

In a recently released Ropes & Gray podcast, asset management partner Isabel Dische, tax partner Brett Robbins, and private client partner Cameron Casey discuss the effect of Section 457A on pre-2009 management and incentive...more

Diving Into Family Philanthropy (Segment II): What giving vehicle is right for your family?

We recommend waiting to choose a giving vehicle (or vehicles) until you have a clear sense of your family’s philanthropic objectives. Once identified, those philanthropic goals, in addition to tax and operational...more

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