On January 5, 2021, the IRS issued a revised Form 1024-A, which is the application that Code Section 501(c)(4) social welfare organizations use to apply to the IRS for recognition of their tax-exempt status. The Form 1024-A...more
The IRS allows a “central organization” to obtain a group exemption letter that permits a central organization’s “subordinate organizations” to obtain recognition of their tax-exempt status without applying to the IRS. In...more
On April 23, 2020, the IRS published new proposed regulations with guidance on how nonprofits should calculate their unrelated business taxable income, or UBTI, for separate trades or businesses. This long-awaited guidance,...more