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
IRS webinar: File Error-Free Form 1023-EZ -
The Tax Exempt and Government Entities Division invites you toregister for the free File Error-Free Form 1023-EZ webinar on Thursday, February 4, 2021; 1 p.m. Eastern Time....more
Employers are looking for ways to assist employees and their dependents experiencing financial hardship due to the Coronavirus. One potential tax-advantaged method is the use of an existing or newly formed employer-sponsored...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
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
While the Bipartisan Budget Act of 2018 (the “Act’) focused on spending and the budget, it did include two provisions impacting charities.
First, the Act amends the recently adopted Section 4968(b)(1), which now imposes a...more
Notice 2017-73, released on December 4, 2017, describes potential approaches that may be taken to address issues raised regarding the use of donor advised funds (“DAF”). The Treasury and IRS are considering developing...more
Bryan Cave recently organized a half-day symposium examining the opportunities and legal considerations related to responsible and impact investing strategies. The Responsible and Impact Investing Symposium, held on November...more
Treasury has released Final Regulations under Section 4944 of the Code providing additional guidance regarding program related investments (“PRIs”). Technically, a PRI is an investment by a private foundation (1) the primary...more