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Income Taxes › Nonprofits

Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect... more +
Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -
McDermott Will & Emery

Family Office Symposium 2024 | Key Takeaways

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McDermott’s Family Office Symposium 2024 gathered more than 275 family office executives to explore creative solutions to navigate complexity and gain fresh perspectives on the challenges they face. Over two days,...more

Gerald Nowotny - Law Office of Gerald R....

Hooked on a Feeling! The Benefits of 501(c)(4) Charitable Organizations

Gerald Nowotny - Law Office of Gerald R.... on

I seem to have been on a writing sabbatical for the last year. Over the course of the year, I have discovered a few new planning ideas to share going forward. From previous articles you already know that I grew up in the...more

ArentFox Schiff

Section 501(c)(4) and the Social Welfare Organization

ArentFox Schiff on

On September 14, 2022, The New York Times published an article detailing the Chouinard family’s transfer of the majority of their ownership interests in Patagonia to a 501(c)(4) nonprofit organization....more

Freeman Law

Can a Nonprofit Fundraise for Another Nonprofit? Legal and Tax Considerations.

Freeman Law on

I’ve served as outside general counsel for nonprofit organizations across the nation for over 15 years. This question is re-occurring. So, I thought I would blog a little about it. Not legal or tax advice; just legal and tax...more

McDermott Will & Emery

Weekly IRS Roundup December 13 – December 17, 2021

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Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of December 13, 2021 – December 17, 2021. December 13, 2021: The IRS published a memorandum...more

Barnea Jaffa Lande & Co.

Israeli High Court Ruling: The Knesset Finance Committee is Limited in its Authority to Approve Tax Benefits for NPOs

Barnea Jaffa Lande & Co. on

The Israeli High Court of Justice ruled recently that section 46 of the Income Tax Ordinance does not authorize the Knesset Finance Committee to exercise broad discretion in recognizing NPOs and in fact the Committee’s...more

Holland & Knight LLP

Vencimiento para la actualización del Régimen Tributario Especial en Colombia

Holland & Knight LLP on

El pasado 2 de febrero de 2021, la Dirección de Impuestos y Aduanas Nacionales (DIAN) de Colombia emitió un comunicado recordándoles a los contribuyentes que hacen parte del Régimen Tributario Especial que deben actualizar el...more

Bowditch & Dewey

The Tax Benefits of Giving Tuesday

Bowditch & Dewey on

Since it began in 2012, Giving Tuesday, the Tuesday after Thanksgiving, has become more and more popular. A recent survey suggests that 62% of Americans plan to participate this year. The main purpose behind Giving Tuesday...more

Smith Anderson

Tax Bill Advances in North Carolina General Assembly

Smith Anderson on

House Bill 1080, containing the Revenue Laws Study Committee’s recommended tax changes, was introduced in the General Assembly on May 14, 2020. The bill has passed its first reading and is now in committee. This Alert...more

BCLP

COVID-19 Update – How the CARES Act Effects Tax Benefits Related to Charitable Giving

BCLP on

On Friday, March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act” or “Act”). The Act was one of several Congressional responses to the COVID-19 emergency and it...more

Partridge Snow & Hahn LLP

501(c)(3) Nonprofit Organizations Update: CARES Act

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501(c)(3) Nonprofit Organizations Update: CARES Act and Importance of Developing Comprehensive Charitable Giving Opportunities During COVID-19 Pandemic On March 27, President Trump signed into law the Coronavirus Aid,...more

Snell & Wilmer

IRS Requires Electronic Filing of Revised Form 1023 for 501(c)(3) Applications

Snell & Wilmer on

The IRS recently announced that Form 1023, Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code, may only be filed electronically. Although the effective date of the change is January...more

Morgan Lewis

IRS Instructs Nonprofits on How to Claim Parking Tax Refund

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On December 20, 2019, Congress retroactively repealed Internal Revenue Code (IRC) Section 512(a)(7), which had increased unrelated business taxable income by amounts paid or incurred for qualified transportation fringes....more

WilmerHale

The Section 4960 Excise Tax: Application to Tax-Exempt and Affiliated Taxable Entities

WilmerHale on

Federal tax law changes enacted with the Tax Cuts and Jobs Act of 2017 may require tax-exempt organizations to reevaluate their compensation practices, particularly with respect to employee severance. Section 4960 of the...more

Bracewell LLP

After the Dust Settles: Recapping Certain Tax Reform Provisions Affecting Exempt Organizations

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As is well known, on December 22, 2017, President Trump signed the Tax Cuts and Jobs Act (the “Final Bill”) into law. During the course of this massive legislative effort, various provisions affecting tax-exempt organizations...more

Bowditch & Dewey

Trump’s Tax Reform: Effect on Nonprofits

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The Administration’s frenzy to pass “tax reform” created tax breaks for some—I’m looking at you, the Trump family—increased taxes for others, and confusion for everyone, at least until the IRS is able to promulgate official...more

Epstein Becker & Green

The New Tax Reform Law: Highlights of Provisions Affecting Health Care and Nonprofits

Epstein Becker & Green on

On December 22, 2017, President Trump signed into law tax reform legislation (the “Act”), which contains many substantial changes to the Internal Revenue Code (the “Code”). This Client Alert provides a brief description of...more

Pillsbury Winthrop Shaw Pittman LLP

The Impact of the Tax Cuts and Jobs Act on LIHTC Investments

Pillsbury Winthrop Shaw Pittman LLP on

The Tax Cuts and Jobs Act contains changes impacting the LIHTC Program. While the low-income housing tax credit program emerged largely unscathed, the reduction in corporate tax rates will reduce equity pricing. ...more

Nutter McClennen & Fish LLP

Comprehensive Tax Reform in Place as Congress Passes the Tax Cuts and Jobs Act

Nutter McClennen & Fish LLP on

On December 20, 2017, Congress passed the most extensive package of reforms to the United States income tax system since the overhaul of the tax code in 1986. Enacting tax reform has been a key priority of the Trump...more

Proskauer - Not for Profit/Exempt...

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

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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

Baker Donelson

Spotlight On Alabama: A Busy Tax Year in Review

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It has been a busy year for developments in Alabama state taxation. In this tax alert we review many of the significant developments that have occurred over the last 12 months....more

Polsinelli

IRS and Department of Treasury Release 2014-2015 Priority Guidance Plan

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On August 26, 2014, the IRS and the Department of the Treasury issued the 2014-2015 Priority Guidance Plan. The Priority Guidance Plan includes 18 exempt organization law projects and four projects relating to charitable...more

Stinson LLP

Booster Club's Revenues: Supportive of a Charity or Reducing Parental Obligations? - Tax Court Finds Substantial Private Inurement...

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Booster clubs have long been used as fundraising arms for affiliated sports organizations. Establishing a booster club as a 501(c)(3) public charity provides the added benefit of enabling contributors to booster clubs to...more

Maynard Nexsen

"Nonprofit Traps and Pitfalls"

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Many of us lawyers are involved with nonprofits. Some of us assist clients in incorporating and providing legal advice to nonprofits, and others of us serve on nonprofit boards. Nonprofit law is surprisingly complex. ...more

Davis Wright Tremaine LLP

New Law Requires Oregon Nonprofits to Satisfy Program Expenditure Test to Receive Deductible Charitable Contributions

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Many Oregon nonprofit organizations will soon face an additional hurdle to receiving contributions that are deductible as charitable contributions for purposes of Oregon’s income or corporate excise tax....more

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