The IRS and Treasury Department recently released new guidance for calculating the tax on unrelated business income (“UBI”) activities of tax-exempt organizations with more than one UBI activity. With the passage of the 2017...more
On September 16, 2015, the Internal Revenue Service (IRS) issued proposed regulations to provide an alternative method for substantiating charitable contribution deductions. In connection with these regulations, the IRS will...more
In This Issue:
- What You Should Do
- Background
- Final Regulations
- Hospital Facilities and Organizations
- Failures to Satisfy the Requirements of Section 501(r)
- Community...more
On July 11, 2014, the IRS released a Technical Advice Memorandum ("TAM") finding that a tax-exempt hospital's income from the performance of laboratory services for non-patients was not subject to the unrelated business...more
In This Issue:
- What You Need to Know
- Background
..Notice 2014-2
..Notice 2014-3
- Correction of a Failure
..Proper Disclosure of Failure
..What You Should Do Now
- Excerpt from...more
In This Issue:
- Proposed Regulations
- Comments Solicited
- What You Should Do Now
- For More Information
- Excerpt from Proposed Regulations:
The proposed regulations are designed to reduce...more
The Department of the Treasury and the IRS, on August 9, issued their 2013-2014 Priority Guidance Plan. This plan entails 324 tax law projects that are priorities for the allocation of the government's tax law administrative...more
In This Issue:
- What You Need to Know:
..Background
..Key Provisions of the Proposed Regulations
..Identifying the Hospital Facility
..Defining the Community Served
..Assessing Community...more
On April 25, 2013, the IRS released its College and University Compliance Project Final Report, which updates the interim report issued in 2010. ...more
On March 21, Lois Lerner, the Director of the Exempt Organizations Division of the Internal Revenue Service, announced an IRS investigation of organizations that self-declare rather than apply to the IRS for recognition of...more
On December 21, 2012, the Department of Treasury and Internal Revenue Service issued final and temporary regulations regarding the requirements to qualify as a Type III supporting organization, which is one that is operated...more