Last week, the US House of Representatives passed H.R. 1, the “One Big Beautiful Bill Act.” This alert highlights the provisions in the Bill that could impact tax-exempt organizations....more
Proposed legislation introduced in the US Senate last week would deny tax-exempt status to certain organizations that support undocumented immigrants. The legislation would change the eligibility requirements for 501(c)(3)...more
The ongoing Los Angeles, California, wildfires have caused widespread devastation, forcing residents to evacuate, and have destroyed homes and communities. President Joe Biden approved a Major Disaster Declaration in response...more
1/14/2025
/ Biden Administration ,
Charitable Organizations ,
Compliance ,
Disaster Relief Fund ,
Employee Benefits ,
Employee Rights ,
Internal Revenue Code (IRC) ,
IRS ,
Natural Disasters ,
Retirement Plan ,
Tax Planning ,
Wildfires
The US Department of the Treasury (Treasury Department) and Internal Revenue Service (IRS) recently published proposed regulations under Section 4966 to provide additional guidance on several issues related to creating and...more
1/5/2024
/ Charitable Donations ,
Charitable Organizations ,
Compensation ,
Donor-Advised Funds (DAFs) ,
Excise Tax ,
Fund Managers ,
Internal Revenue Code (IRC) ,
IRS ,
Proposed Regulation ,
Taxable Distributions ,
U.S. Treasury
The Inflation Reduction Act (IRA), which recently celebrated its one-year anniversary, presents new opportunities for tax-exempt and other organizations to directly benefit from renewable energy tax credits, including...more
9/1/2023
/ Income Taxes ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
Investment Tax Credits ,
IRS ,
New Guidance ,
Overpayment ,
Production Tax Credit ,
Public Utilities Commission ,
Renewable Energy ,
Tax Credits ,
Tax Exempt Entities ,
U.S. Treasury
On September 14, 2022, The New York Times published an article detailing the Chouinard family’s transfer of the majority of their ownership interests in Patagonia to a 501(c)(4) nonprofit organization....more
The Internal Revenue Service (IRS) recently published a new Technical Guide for tax-exempt 501(c)(6) trade associations, business leagues, chambers of commerce, real estate boards, and other organizations exempt from federal...more