News & Analysis as of

Tax Exempt

An Overview of Private Charitable Foundations

by Nexsen Pruet, PLLC on

A private foundation is a powerful tool for charitable giving. It is means of advancing your individual, family, or corporate mission and legacy through supporting those causes which you value the most....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

The Netherlands proposes changes to dividend withholding tax

by DLA Piper on

The Dutch government has released an attractive proposal to fully exempt withholding tax on dividends paid to non-resident shareholders in treaty countries provided certain conditions are met. Many multinational enterprises...more

IRS Issues New Rules for Management Contracts involving Tax-Exempt Financed Facilities

by Miller Canfield on

The Internal Revenue Service (IRS) issued Revenue Procedure 2017-13 (Rev. Proc. 2017-13) on Jan. 17, 2017. The procedure provides more flexible, modern rules for structuring management contracts involving tax-exempt financed...more

IRS Updates Form 990-EZ for 2016

by Foley Hoag LLP on

The IRS released an updated Form 990-EZ, Short Form Return of Organization Exempt from Income Tax with the purpose of helping small to mid-size tax-exempt organizations avoid common mistakes. Tax-exempt organizations whose...more

OTA & Travel Distribution Update – Dec. 16th, 2016

by Garvey Schubert Barer on

This week’s OTA and Travel Distribution Update for the week ending December 16, 2016 is below. This week’s Update contains an update on one important recent court decision involving OTAs....more

IRS Lays Out Plan for Maintaining Tax Qualification for Individually-Designed Plans after Elimination of the Determination Letter...

by Reed Smith on

On June 29, 2016, the Internal Revenue Service (IRS) released Revenue Procedure 2016-37, which modifies the Determination Letter Program for tax-qualified plans and the requirements for when plan amendments must be adopted by...more

Spotlight on Non-Profits: IRS Lowers Tax-Exemption Application User Fees for Certain 501(c)(3) Organizations

by Baker Donelson on

In the recently issued Revenue Procedure 2016-22, the IRS announced that it is lowering the user fee associated with the submission of Form 1023-EZ for organizations seeking recognition of their tax-exempt status under...more

IRS Releases July 2016 Interest Rates

by Bryan Cave on

The 7520 rate for July 2016 has remained at 1.8%. The July 2016 Applicable Federal Interest Rates can be found below. Section 1274.--Determination of Issue Price in the Case of Certain Debt Instruments Issued for...more

Group Seeks Relief For U.S. Citizens With RESP and TFSA Accounts

by Hodgson Russ LLP on

In a letter dated March 4, 2016, the American Chamber of Commerce in Canada (“AmCham Canada”) requested that the United States Department of the Treasury (“Treasury”) provide various forms of tax relief to U.S. and Canadian...more

IRS Releases April 2016 Interest Rates

by Bryan Cave on

Section 1274.--Determination of Issue Price in the Case of Certain Debt Instruments Issued for Property - (Also Sections 42, 280G, 382, 412, 467, 468, 482, 483, 642, 807, 846, 1288, 7520, 7872.) Rev. Rul. 2016-09...more

S&P Says Infrastructure Costs Go Well Beyond the Initial Investment

by Nossaman LLP on

In a number of recent conversations regarding using Public-Private Partnerships (P3s) to deliver large infrastructure projects under an availability payment structure, I’ve heard a lot of angst by public owners over the cost...more

Loan Transaction Costs IRA its Bankruptcy Exemption

by Charles (Chuck) Rubin on

A recent case illustrates a common problem with IRAs when their participants declare bankruptcy. Generally, IRAs are exempt assets in bankruptcy proceedings, and are thus beyond the reach of the bankrupt individual’s...more

Court of Appeals Decides “Greater Jamaica” RPTL 420-a Case

We reported in February on an Appellate Division, Second Department case that held that public parking garages can qualify as tax exempt under Real Property Tax Law § 420-a. On July 1, the Court of Appeals overturned that...more

Extension for Philadelphia Nonprofit Property Owners Filing to Maintain Tax Exemption

by Pepper Hamilton LLP on

Nonprofit organization owners of tax-exempt real property located in Philadelphia were required to submit information by March 31, 2015 for their properties to continue to be exempt from tax for 2016. The Philadelphia Office...more

Philadelphia Reduces Requirements for Certifications for Continued Real Estate Tax Exemptions

by Cozen O'Connor on

The Philadelphia Office of Property Assessment (OPA) recently mailed notices to each owner of property listed as tax exempt on the OPA’s records indicating that the owner must file a form to certify that the property...more

OPA Makes It Easier for Tax-Exempt Owners of Real Property To Recertify Tax Exemptions

by Ballard Spahr LLP on

The Office of Property Assessment (OPA) has simplified the process for owners of tax-exempt real estate in Philadelphia to recertify that their properties are, in fact, tax-exempt. The OPA's original notices to property...more

Mixed-Use Housing Is Exempt

by Cozen O'Connor on

A panel of a Commonwealth Court concluded that a mixed-use housing project owned by municipality was exempt from real estate tax. Reading Housing Authority v. Board of Assessment Appeals of Berks County, No. 1937 C.D. 2013...more

ABLE Accounts for Disabled Individuals – Senate is Now ABLE to Act

by Cole Schotz on

On December 3, 2014, the House of Representatives passed legislation that would allow qualifying disabled persons to establish tax-free savings accounts similar to 529 plans to pay for a host of expenses, including, but not...more

Tax Law Blog: New Simplified Application Form for Small Nonprofits

by Davis Brown Law Firm on

The IRS is releasing a new Form 1023-EZ, a simpler form of the regular Form 1023 used to apply for tax-exempt status as a 501(c)(3) organization. The form is available to small organizations, specifically those with less than...more

The For-Profit Entity's Guide to Doing Business with Nonprofit Organizations

30-SECOND SUMMARY It may seem logical for certain for-profit organizations to enter into business arrangements with nonprofits. Although both parties can certainly benefit from such an arrangement, the nonprofit must be...more

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