FCPA Compliance and Ethics Report-Episode 16, Charitable Donations Under the FCPA
The Greatest Gift: Your Individual + Family Estate Plan
Buying and Selling Businesses in Today's Economy, Stephen Opler
Transaction Monitoring Under the FCPA
House Ways and Means Committee Chairman Dave Camp (R-Michigan) this week introduced a draft of the most comprehensive reform of the Internal Revenue Code in decades.
The key principles in the draft are:
According to the Chronicle of Philanthropy, the top three corporate philanthropists (Wells Fargo, Walmart and Chevron) in 2012 gave nearly $900 million in cash in 2012. At the most fundamental level, do corporations have the...more
Donors must receive acknowledgment letters from charitable organizations in order to deduct contributions of $250 or more. See IRS Publication 1771....more
Charitable contributions are only deductible if you itemize and have the proper substantiation.
For cash contributions of less than $250, you must have either a cancelled check/credit card receipt or a written...more
In November 2013, the United States Tax Court upheld the charitable deduction for a conservation easement claimed on the taxpayers’ income tax return but reduced its value and upheld the 40 percent gross valuation...more
During this season of giving, charitable contributions can make a significant difference to those in need. While charitable giving is to be applauded and encouraged, a business owner should take care to understand how to...more
The Bankruptcy Code permits a trustee to avoid transfers of property that a debtor has made within two years prior to its bankruptcy filing. In 1998, Congress added a safe-harbor provision for contributions to qualified...more
What is the Non-Profit Revitalization Act of 2013?
On December 18, 2013, Governor Andrew M. Cuomo signed into law the Non-Profit Revitalization Act of 2013 (the “Act”). The Act signifies the first substantial overhaul...more
Question: Fundraising in all 50 states via (1) the Internet and (2) mailed solicitations. What do we need to know? Do we need solicitation permits in each state? What are the current laws regarding this type of...more
On December 27, 2013, the Centers for Medicare & Medicaid Services and the Office of the Inspector General, both of the Department of Health and Human Services, issued closely coordinated rules (“Final Rules”) extending the...more
The charitable trust can have certain practical advantages over the charitable corporation, at least in some quarters and under certain circumstances. Operational simplicity and low-cost maintenance are some of the pluses....more
At long last, the Office of Inspector General for the Department of Health and Human Services (OIG) and the Centers for Medicare & Medicaid Services (CMS) have finalized regulations amending the Anti-Kickback Statute safe...more
The ability to make direct charitable contributions from IRAs is due to expire at the end of the year. Under present law, an IRA owner, age 70 or over, may directly transfer tax-free up to $100,000 per year to an eligible...more
On December 18, 2013, New York State Governor Andrew Cuomo signed the Nonprofit Revitalization Act of 2013 (the Act) into law, triggering the first overhaul of the New York Not-for-Profit Corporation Law (N-PCL) in more than...more
Last week, it was announced by the Department of Justice (DOJ) and Securities and Exchange Commission (SEC) that it had settled an enforcement action with Archer-Daniels-Midland Company (ADM). The DOJ resolved a criminal...more
In Revenue Ruling 2013–17, the Internal Revenue Service (IRS) announced that the terms “husband and wife,” “husband” and “wife” in the Internal Revenue Code are to be interpreted to include an individual married to a person...more
IRS Explains Federal Tax Consequences of Windsor Case Regarding Same-Sex Marriages -
In our last report (Vol. 8, No. 3, September 2013), we told you about the recent Windsor case, in which the Supreme Court held...more
In a thoughtful amendment to Washington’s Anti-Rebate Statute, the Legislature has aligned the parameters of chapter 19.68 RCW with those of the federal Anti-Kickback Statute, granting greater protection for EHR donation...more
In this issue -
- Federal Estate, GST and Gift Tax Rates
- Annual Gift Tax Exclusion
- Federal Income Tax Rates
- President’s Budget Proposal for Fiscal Year 2014
- Important Planning...more
Most people make the bulk of their charitable contributions during the year-end holiday season. This post summarizes some of the charitable giving ideas and opportunities, as well as some planning reminders, that donors may...more
This week in New Miami news, don’t miss the renderings of developer Jeff Berkowitz’s Skyrise Miami, a sleek 1000-foot observation tower that would become Miami’s tallest building.
Channel deepening project begins at...more
One way you can make a year-end charitable gift is to write a check to the charity and take a charitable deduction on your income tax return. The problem is that you're using “after tax dollars” to make the gift....more
As year-end approaches, many of you are finalizing your charitable gifts for the year.
For tax deductibility purposes, charitable contributions are governed by several rules. One of the best strategies to reduce your...more
In this episode 17, I discuss charitable donations under the FCPA. I review the two enforcement actions involving this issue and four Opinion Releases to develop processes and procedures which will allow you to make donations...more
We’ve all heard and read the radio and newspaper ads that encourage donors to contribute their vehicles to charity. The advertisements attempt to convince donors to donate their old “jalopies” (whether they run or not) and...more
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