Update on Mandatory Electronic Filing for Form 4720 by Private Foundations -
Section 3101 of the Taxpayer First Act requires certain exempt organizations to file information and tax returns electronically for tax years...more
Year-end reminder: Expanded tax benefits help individuals and businesses give to charity during 2020 -
The IRS today explained how expanded tax benefits can help both individuals and businesses give to charity before the...more
IRS solicits public comments on proposed changes to group exemption letter program; will temporarily stop accepting requests for group exemption letters on June 17, 2020 -
Notice 2020-36 contains a proposed revenue...more
The IRS is revising Form 1023, Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code, and its instructions, to help charities apply for 501(c)(3) tax-exempt status.
Effective January...more
2/5/2020
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Updated Forms
Section 4940 of the Code imposes an excise tax on the “net investment income” of private foundations. Historically, the excise tax was 2%, with an opportunity for reduction to 1% for a year in which the foundation’s...more
Various Charities and Nonprofits webpages have been redesigned to improve organization, design and navigation using data analytics and user testing.
Charitable hospitals under the Affordable Care Act – Section 501(r) -...more
Beware of fake charities -
IRS cautions taxpayers on scams involving disasters, charitable causes andencourages taxpayers to donate to recognized charities to help disaster victims. IRS’ annual “Dirty Dozen” also lists...more
Now that we’ve scared you with the potentially high taxes for self-dealing in private foundations, what is self dealing?...more
In November of 2016, Bryan Cave organized a half-day symposium examining the opportunities and legal considerations related to responsible and impact investing strategies. I participated on a panel to discuss how private...more
Use Form 1024-A to Apply for Recognition of Exemption under IRC Section 501(c)(4) -
Organizations that choose to apply for recognition of exempt status under Internal Revenue Code (IRC) Section 501(a) as an organization...more
The IRS reminds people seeking tax-exempt status to use the current version of forms to avoid processing delays. The current version of Form 1023, Application for Recognition of Exemption Under Section 501(c)(3) of the...more
The IRS revised Form 1023-EZ, Streamlined Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code, and its instructions to help small charities apply for 501(c)(3) tax-exempt status....more
People.com is reporting that Amber Heard, who received a $7 million settlement in her divorce from Johnny Depp this week, is donating the entire $7 million settlement to charities with “a particular focus to stop violence...more