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IRS Report Scrutinizes Unrelated Business Income Reporting by Tax-Exempt Organizations

The Internal Revenue Service (IRS) has released a final report (the “Report”) summarizing its findings from a study focused on the level of compliance by tax-exempt colleges and universities with respect to unrelated...more

IRS Issues Final Report on Colleges and Universities Compliance Project

Report offers lessons for many tax-exempt organizations on unrelated business taxable income and executive compensation....more

Budget Briefing 2013

The Honourable Jim Flaherty, Minister of Finance, tabled Budget 2013 today. In his Budget Speech, the Minister lauded Canada’s economic strength and achievements over the last seven years, while acknowledging that there are...more

The American Taxpayer Relief Act of 2012 and What It Means to You

On Jan. 2, 2013, President Obama signed the “American Taxpayer Relief Act of 2012” (the “Act”) which was passed by the House and Senate the previous day to avoid the so-called “fiscal cliff.” The Act prevents many of the tax...more

‘Fiscal Cliff’ Legislation Temporarily Extends Key Provisions for Businesses

As part of legislation enacted in early 2013 to avert the so-called “fiscal cliff,” Congress temporarily extended several beneficial tax provisions for businesses, including the research credit, the active financing exception...more

Fiscal Cliff Tax Changes

On New Year’s Day 2013, the “American Taxpayer Relief Act of 2012” (the Act) was enacted to avoid the impact of automatic “fiscal cliff” tax increases. The Act, effective January 1, 2013, retains and makes permanent the...more

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