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Donors Must Dot All i’s, Cross All t’s When Making Year-End Charitable Gifts

As donors and their advisors rush to close year-end charitable gifts, it is easy to overlook the very precise requirements for income tax deductibility. Donors who fail to follow these rules may find their entire deductions...more

Tax Law Changes Complicate Tax-Exempt Organizations’ Attempts to Calculate UBTI

Charities and other exempt organizations face higher taxes, more complex returns and tough investment decisions under new unrelated business income tax rules effective for 2018. Despite recent guidance from the Internal...more

New Tax Regulations Limit Deductions for Gifts That Generate State Tax Credits

The Treasury Department has proposed new regulations that may hamper numerous state programs offering state income tax credits in return for charitable contributions. Designed to thwart recent state efforts to circumvent new...more

Donor Advised Funds: Useful New Tools for Charities and Donors

Donor advised funds (DAFs) are among the most-discussed vehicles in the charity world today. Proponents see DAFs as useful alternatives to private foundations and supporting organizations when donors want to provide...more

Charitable Giving After Tax Reform

Public Law No. 115-97, enacted Dec. 22, 2017, and informally known as the 2017 Tax Cuts and Jobs Act (the “2017 Tax Act”), contains several provisions that, in the aggregate, may have a substantial effect on charities and...more

Tax Reform: Modifications to the Conference Committee’s Bill

On Dec. 19, the Senate parliamentarian ruled that three provisions in the Tax Cuts and Jobs Act violated Senate procedure. These provisions, which were subsequently removed, related to the use of 529 savings accounts for...more

Tax Cuts and Jobs Act: The Conference Committee’s Bill

The House-Senate Conference Committee released the revised “Tax Cuts and Jobs Act” on Dec. 15, 2017. This compromise bill made major changes to the separate bills that the House and Senate passed earlier this year. Both...more

Tax Cuts and Jobs Act: Senate Bill Revisions Affecting Tax-Exempt Organizations

The U.S. Senate produced its version of the Tax Cuts and Jobs Act early on the morning of Dec. 2, 2017. Most of its terms closely track the Chairman’s Mark that the Senate Finance Committee approved Nov. 16, but a few key...more

A Comparison of Key Provisions for Tax-Exempt Organizations

The Senate weighed in on tax reform by releasing a revised Chairman’s Mark of the “Tax Cuts and Jobs Act” on Nov. 14, 2017. Many provisions of the Chairman’s Mark closely track the House bill, but the two differ substantially...more

Tax Cuts and Jobs Act: Amendments Affecting Tax-Exempt Organizations

Federal tax reform continues as House Ways and Means Committee Chair Kevin Brady (R-Texas) offered his second amendment to the Tax Cuts and Jobs Acts on Nov. 9, modifying recently introduced legislation discussed in...more

Key-Provisions-Tax-Cuts-Jobs-Act-Tax-Exempt-Organizations

The debate over federal tax reform officially began Nov. 2, 2017, when House Ways and Means Committee Chair Kevin Brady (R-Texas) introduced H.R.1, the Tax Cuts and Jobs Act. Several provisions of the legislation affect...more

GOP Proposes Allowing Charities to Take Political Sides

While speaking at the National Prayer Breakfast on Feb. 2, President Donald J. Trump vowed to “totally destroy” the Johnson Amendment. This pledge was seconded by House Ways and Means Committee Chair Kevin Brady, R-Texas, in...more

Tax-Exempt Organizations Update: Selected Developments From Washington

Although comprehensive tax reform in 2016 is unlikely in the midst of an election year, so far in 2016, parties on all sides have proposed specific changes to the rules applicable to exempt organizations. Lawmakers in...more

IRS Regulatory Guidance for Supporting Organizations

The Pension Protection Act of 2006 made significant changes to the rules applicable to supporting organizations, and in particular Type III supporting organizations. The latest regulatory guidance from the IRS continues the...more

Charities and Mission Investing

Private foundations, community foundations, and other public charities and nonprofit organizations are seeking different, and sometimes innovative, ways to further their charitable purposes. One area receiving increasing...more

Looking Ahead for Tax-Exempt Organizations: IRS Priorities in 2016

Sunita Lough, IRS Commissioner of the Tax-Exempt and Governmental Entities Division (TE/GE), recently released the TE/GE Priority Letter for FY 2016. Rather than focusing on specific tax issues, the letter states that TE/GE...more

12/12/2015  /  Exempt Organizations , IRS

Changes to 2014 Form 990, Form 990-EZ, and Form 990-PF for Exempt Organizations

While the IRS made only minor changes to Form 990, Form 990-EZ, and Form 990-PF for the 2014 tax year, the IRS made significant revisions to Schedule A. ...more

Congressional Proposals for Nonprofit Tax Breaks and Extenders

In February, the House of Representatives passed several tax bills and the Senate Finance Committee approved several tax bills that, if ultimately enacted, would impact tax-exempt organizations....more

Donor Advised Funds: A Popular Way to Give to Charity

In recent years, donor advised funds have become a popular alternative to private foundations and supporting organizations for many donors. Donor advised funds allow donors to receive some of the benefits associated with a...more

Executive Compensation Continues to be a Hot Button Compliance Issue for Charitable Organizations

Over the last decade, the IRS has assumed a broader role in the governance of tax-exempt organizations and embraced the view that transparency leads to tax compliance. Nowhere is the IRS s approach more evident than in the...more

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