In a recent memorandum issued by the Office of Chief Counsel, the Internal Revenue Service (IRS) concluded that many "NIL Collectives" may not qualify as tax-exempt under Section 501(c)(3) of the Internal Revenue Code of...more
6/27/2023
/ 501(c)(3) ,
Colleges ,
Fundraisers ,
Internal Revenue Code (IRC) ,
IRS ,
Name and Likeness ,
NCAA ,
Policy Memorandums ,
Student Athletes ,
Tax Exempt Entities ,
Universities
As part of an ongoing effort to modernize its operations and reduce administrative burdens, the Internal Revenue Service (IRS) has revised and updated the Form 8940 for tax-exempt organizations, charities, and nonexempt...more
Facilities owned by nonprofits and government entities are frequently financed with tax-exempt bonds and managed by for-profit management companies. To avoid tainting the tax-exempt status of the interest payable on...more
10/24/2022
/ Compensation Agreements ,
For-Profit Corporations ,
Hotel Management Agreements ,
Hotels ,
Incentive Compensation ,
IRS ,
Management Fees ,
Project Finance ,
REIT ,
Revenue Procedures ,
Safe Harbors ,
Tax Exempt Entities ,
Tax-Exempt Bonds