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IRS and Treasury Department Release Notice Regarding Donor Advised Funds

In addition to sponsoring organizations of donor advised funds, the Notice may also impact donors and other tax-exempt organizations, including both private foundations and public charities; affected parties should submit...more

Tax Reform and Nonprofits: The Devil’s in the Details

The Tax Cuts and Jobs Act, currently under consideration in the US House of Representatives and Senate, proposes fundamental changes to the US tax law affecting all sectors of the economy, including nonprofit organizations....more

Hurricane Recovery Client Alert: Establishing a Charitable Leave Donation Program

Tips on setting up a pooled fund of employee leave by giving employees the option of donating leave that can be converted into cash contributions to charities assisting the victims of Hurricane Harvey....more

Hurricane Harvey Client Alert: How Employers and Employees Can Help Those in Need

A variety of tax-favored vehicles exist for employers and their employees to donate cash or even accrued leave to assist those impacted by Hurricane Harvey’s devastation....more

Benefit Corporations May Expense Payments to Charities

In a General Information Letter addressing the tax treatment of benefit corporations, the Internal Revenue Service (IRS) stated that a taxable benefit corporation may deduct payments to charities as business expenses (and...more

New Examples of Program-Related Investments

The new examples describe additional charitable purposes and PRI terms and structures. On April 21, the Internal Revenue Service and Treasury Department issued final regulations regarding program-related investments...more

Corporate Tax Reform Proposal Would Raise Taxes on Exempts

Legislation could impose new taxes on dividend and interest income of tax-exempt entities. The Senate Finance Committee is reportedly formulating a legislative proposal to integrate the corporate and individual tax...more

Congress Inquires About College and University Endowments

US House Committee on Ways and Means and US Senate Committee on Finance issue joint letter to colleges and universities with endowments greater than $1 billion. On February 8, the US Senate Committee on Finance and the...more

IRS Publishes Final Regulations for Equivalency Determinations

Take note of these practical concerns for private foundations making grants to foreign organizations. On September 25, the Internal Revenue Service (IRS) published final regulations for private foundations making good...more

IRS Provides Guidance on Mission-Related Investments by Private Foundations

New guidance permits private foundations to consider charitable purposes when making investments with a substantial purpose of capital appreciation or the production of income....more

ABLE Act Allows Millions of Individuals with Disabilities to Save

ABLE Act establishes tax-free accounts that enable individuals with disabilities to invest with financial institutions without losing their government benefits. U.S. President Barack Obama signed the Achieving a Better...more

Treasury Department and IRS Issue Priority Guidance Plan

Plan lays out the agencies' top priorities for the 2013–2014 fiscal year, including those affecting tax-exempt organizations....more

Tax Reform Options for Tax-Exempt Organizations

Senate Finance Committee issues tax reform paper setting forth challenges, goals, and possible measures affecting tax-exempt organizations and charitable giving....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

IRS Issues Regulations for Type III Supporting Organizations

Type III supporting organizations should take steps to comply with new regulations and funders should review due diligence procedures for grants made to these organizations. On December 21, 2012, the Internal Revenue...more

Important New Provisions in the American Taxpayer Relief Act

From tax rates and tax extenders to the revival of the Pease limitation, the act includes a host of provisions affecting tax-exempt organizations....more

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