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Mission-Related Investments Validated by IRS Notice 2015-62

Foundations, like many investors, are considering how to use their assets to both provide investment return and to promote their social and charitable causes (a strategy sometimes referred to as “social impact investing”). ...more

CARES Act Changes to the Charitable Income Tax Deduction

The Coronavirus Aid, Relief, and Economic Security (CARES) Act includes four changes to the rules for charitable income tax deductions: 1. $300 Above-the-Line Charitable Income Deduction (Section 2204 of the CARES...more

Employer Sponsored Foundation for Coronavirus Disaster Relief and Implications for Tax Planning

As the COVID-19 pandemic continues, businesses may consider having their affiliated company foundations take the lead on providing assistance to affected employees and their families. This is permitted, but companies must...more

IRS Rules that PAC Sponsored by a For-Profit Subsidiary of a 501(c)(3) Health Care System Parent Violates Prohibition on Political...

In a January 31, 2020 private letter ruling (PLR 202005020), the IRS ruled that where a Parent 501(c)(3) non-profit organization was providing administrative services to a for-profit Subsidiary, the Subsidiary’s creation and...more

Seventh Circuit Examines Conflict of Interest Issue Relevant to Private Foundations

The board members or trustees of private foundations frequently serve on the boards of organizations that apply for and receive grants. This may present the possibility of a conflict of interest issue when the foundation...more

Tax Cuts and Jobs Act – New Compensation Tax for Non-Profit Organizations on Excess Compensation and Excess Parachute Payments

The Tax Cuts and Jobs Act passed late last year and became effective as of January 1, 2018. The Act includes a new provision that subjects certain “excess compensation” paid by exempt organizations (organizations exempt from...more

Tax Reform: Provisions Directly Affecting Tax-Exempt Organizations

he Tax Cuts and Jobs Act was signed into law on December 22, 2017. This tax reform law includes the following changes directly affecting nonprofit and tax-exempt organizations, and those who donate to them. A number of...more

Tax Planning Strategy Under the New Tax Cuts and Jobs Act

Late in 2017, the Tax Cuts and Jobs Act was passed. It will take effect in 2018. The Tax Cuts and Jobs Act eliminated or limited a number of different tax preference items...more

Exclusion for Qualified Small Business Stock

The Protecting Americans from Tax Hikes Act, passed in December 2015, extended an often overlooked provision of the tax code with the potential to provide significant savings to small business owners and non-corporate...more

IRS Denies Exempt Status for Non-MSSP Accountable Care Organizations

In April, the IRS released a private letter ruling denying section 501(c)(3) status to an accountable care organization (“ACO”) that contracted with third-party payers outside of the Medicare Shared Savings Program (“MSSP”)....more

Legal Issues in Cause-Related Marketing

Cause-related marketing is frequently used by businesses to bolster sales, improve brand reputation, and improve public relations. Under the laws of a number of states, when a business advertises that it will make a...more

To Pay (Directors) or Not to Pay – That is the Question

The question of whether to pay the directors of a tax-exempt organization is hotly contested. Although this practice is legal, there can be drawbacks with providing compensation. Despite the perceived hesitancy to compensate...more

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