News & Analysis as of

Tax Exempt Entities

We Need a License To . . . Be a Charity?

by Ward and Smith, P.A. on

Wait a minute! Haven't we done everything we're supposed to do? We've clearly defined our charitable mission. We formed our non-profit corporation. We got our 501(c)(3) determination letter from the Internal Revenue Service...more

Jimmy Chen Seminar Attendees and Clients at Risk of Being Investigated for Tax Evasion

by Moskowitz LLP on

This past summer, Jimmy J. Chen, accountant and promoter of private charitable foundations, was charged with six felony counts of tax evasion. From 2009 through 2011, Mr. Chen apparently used his tax-exempt ChenSung Family...more

IRS Announces End Date for 403(b) Remedial Amendments

Many tax exempt employers sponsor Section 403(b) retirement plans to help their employees save money for retirement. A 403(b) plan offers the ability for an employee to make pre-tax contributions to the plan (similar to the...more

Private Foundations: A Primer for the Business Owner

by Farrell Fritz, P.C. on

Many successful business owners attribute some part of their financial success to their community. The term “community” may have a different meaning from one business owner to another. In some cases, it may refer to the...more

Recent Updates from the Attorney General’s Nonprofit Division

by Foley Hoag LLP on

Several attorneys from the Non-Profit Organizations/Public Charities Division of the Office of the Attorney General (the Division) participated in an engaging panel discussion at the Boston Bar Association last week. The...more

Is It the End of the Johnson Amendment as We Know It?

While speaking at the National Prayer Breakfast on February 2, 2017, President Trump reaffirmed his commitment to repeal the law that restricts organizations that are tax exempt under Section 501(c)(3) of the Internal Revenue...more

Introduction to Tax For Public Finance – Tax Presentation

Introduction to Tax for Public Finance - • What is the tax-exemption for state and local bonds? • Types of tax-exempt bonds • Overview of federal income tax requirements... Please see full Publication...more

Adequacy is Adequate: DC District Court Certifies Pacer Fee Class

by Carlton Fields on

The United States District Court for the District of Columbia certified a class of all individuals and entities who paid fees to obtain court records though the Public Access to Court Electronic Records (PACER) system. The...more

Reminder: Filing Requirements for New 501(c)(4) Organizations

by Bryan Cave on

With lobbying efforts on the rise, the IRS has issued notice requirements for new 501(c)(4) social welfare organizations. These requirements follow the addition of Section 506 to the Code, where notification requirements for...more

Tax Filing Gets Easier for Small Nonprofits

by Nossaman LLP on

The IRS has released a new, interactive Form 990-EZ (Short Form Return of Organization Exempt From Income Tax) to make the annual chore of return filing even easier for “small” tax-exempt organizations, and help them avoid...more

Religious Institutions Update: February 2017

by Holland & Knight LLP on

Timely Topics - A draft executive order of President Donald Trump relating to religious freedom proposes several material changes to federal law. First, it would require the executive branches to recognize a broad scope...more

IRS Releases Updated Form 990-EZ; New Options to Help Exempt Organizations Avoid Errors, File a More Accurate Return

by Bryan Cave on

WASHINGTON — The IRS announced today the release of an updated Form 990-EZ, Short Form Return of Organization Exempt From Income Tax, that will help tax-exempt organizations avoid common mistakes when filing their annual...more

Ole Miss Substantially Prevails in Tax Court Case over Taxability of Coach Appearances

by Butler Snow LLP on

Tax exempt organizations must report and pay tax on their “unrelated business income.” Butler Snow recently represented The University of Mississippi (“UM”) in a federal income tax dispute in the United States Tax Court...more

501(c)(3) Public Charities Subject to New Donor Disclosure Requirements in New York

Since 1958, when the Supreme Court held that the State of Alabama’s attempt to compel the NAACP to disclose its membership lists infringed on the members’ constitutional rights to freedom of speech and assembly, charities and...more

IRC Section 501(r): An ACA Provision That’s Likely Here to Stay

by BakerHostetler on

For tax-exempt hospitals, the Section 501(r) Internal Revenue Code (IRC) requirements of the Affordable Care Act are “old news” by now. However, despite the recent focus on repeal of the ACA, it is worth noting that this...more

Additional Amendments to the Nonprofit Revitalization Act of 2013 Become Law

by Hodgson Russ LLP on

On November 28, 2016, Bill A10365-B containing further changes to the New York Nonprofit Revitalization Act became law. Our prior alert, available here, discussed the details and implications of the June 2016 legislation. ...more

Developments in Association Law 2015–2016

The Nonprofit Organizations Practice at Pillsbury has prepared this summary of significant legal and policy developments that have occurred in approximately the past year. All of these developments have potential impacts upon...more

TE/GE Announces New Information Document Request Management Process

by Bryan Cave on

The Tax Exempt and Government Entities Division of the Internal Revenue Service has issued new internal guidance for its agents on issuing information document requests (IDRs). The IRS issues IDRs to gather information during...more

Charitable Giving Before Tax Law Changes Under the New Administration

by Goulston & Storrs PC on

Significant changes are expected to U.S. tax laws following the election of Donald Trump as the next President of the United States and the Republican Party’s retention of control over both houses of Congress. The details of...more

New York City Ramps Up Efforts to Enforce the Prevailing Wage Requirement of Its 421-a Affordable Housing Tax Exemption

by FordHarrison on

Owners of 421-a tax exempt buildings and developments should practice extreme caution when considering responding (or failing to respond) to the recent notices (Notices) sent by the City of New York Department of Housing...more

What Your Nonprofit Needs to Know Before Advocating a Political Agenda

A Brief Case Study: Your nonprofit’s founder sends out an email in their official capacity to all of its members urging the them to vote for or against a political candidate or for or against a local proposition. It may...more

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

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

IRS Clarifies Benefit Coverage Requirements for Employees of Tax-Exempt Disregarded Entities

by Robinson & Cole LLP on

The Internal Revenue Service (IRS) recently issued General Counsel Memorandum 201634021 (Memorandum), clarifying benefit coverage requirements for employees of a disregarded LLC wholly owned by a single member tax-exempt...more

IRS Examinations: New Guidance and Issue Areas for Tax-Exempt Organizations

Tax-exempt organizations will soon receive guidance regarding the issues most likely to trigger an examination by the Internal Revenue Service (IRS), says Sunita Lough, Commissioner of the IRS Tax-Exempt and Government...more

Prohibited Campaign Intervention: Stay Alert in the Final Stretch

by Farella Braun + Martel LLP on

Engaging in any political electoral campaign activity on behalf of or in opposition to a candidate for public office is a prohibited activity for all charities and private foundations that are exempt under Internal Revenue...more

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