As covered in an earlier client alert by our firm, The Federal Trade Commission (FTC)’s final Non-Complete Clause Rule—if it survives legal challenges and becomes effective—would ban most post-employment non-compete...more
4/29/2024
/ Common Carriers ,
Contract Terms ,
Corporate Executives ,
Employment Contract ,
Exempt-Employees ,
Exemptions ,
Federal Trade Commission (FTC) ,
Final Rules ,
FTC Act ,
Highly Compensated Employees ,
IRS ,
Jurisdiction ,
Non-Compete Agreements ,
Nonprofits ,
Restrictive Covenants ,
Tax Exempt Entities
State attorneys general, the IRS, and other regulators are focused on “interested party” (conflict-of-interest) transactions in the healthcare and nonprofit sectors. While these transactions are generally permissible and may...more
4/26/2024
/ Compliance ,
Conflicts of Interest ,
Disclosure Requirements ,
Enforcement ,
Enforcement Priorities ,
Health Care Providers ,
Interested Parties ,
IRS ,
Nonprofits ,
Rebuttable Presumptions ,
State Attorneys General
Now that the legislative session is underway—and the 2024 election is fast approaching—organizations that work to influence public policy or elections should focus on the significant changes to Minnesota’s lobbying and...more
2/13/2024
/ Advertising ,
Campaign Finance Reform ,
Electioneering ,
Gifts ,
Lobbying ,
Lobbyists ,
Political Advertising ,
Political Contributions ,
Public Communications ,
Public Officials ,
Reporting Requirements
Beginning January 1, 2024, many types of legal entities must report information regarding their “beneficial owners” and certain other information (collectively, “BOI”) to the Financial Crimes Enforcement Network (“FinCEN”)....more
A recent Tax Court case provides important guidance for donors and charities making and negotiating gifts of appreciated property. While generally donors who donate appreciated property to a public charity do not recognize...more
After a recent decision of the Minnesota Supreme Court, Minnesota hospitals should analyze whether hospital-owned clinics and other facilities may now qualify for an exemption from property tax. In its decision in Perham...more
Anyone currently trying to buy a home in the United States is keenly aware of the low inventory of available homes and record-high prices. The current home-buying environment is especially challenging for low-income,...more
As spring arrives, it is time for a look at the latest tax changes and their effects on individuals and nonprofits making gifts and receiving contributions. 2021 presents an opportunity to take advantage of increased...more
On January 5, 2021, the IRS issued a revised Form 1024-A, which is the application that Code Section 501(c)(4) social welfare organizations use to apply to the IRS for recognition of their tax-exempt status. The Form 1024-A...more
Some very welcome help for theaters, music venues, museums and similar “shuttered venues” and promoters is buried in the $900 billion COVID-19 relief bill recently passed by Congress and signed by the President (the “Act”)....more
The IRS allows a “central organization” to obtain a group exemption letter that permits a central organization’s “subordinate organizations” to obtain recognition of their tax-exempt status without applying to the IRS. In...more
As the effects of COVID-19 on the economy and our societal needs present challenges to nearly every nonprofit organization, some organizations are considering how their endowment and other restricted funds may be deployed to...more
The recently enacted “Coronavirus Aid, Relief, and Economic Security Act,” known as the “CARES Act,” addresses many topics, including direct payments to millions of Americans, delay of employer payroll taxes, disaster relief...more
The novel coronavirus pandemic has upended nearly every facet of American — and global — life, and in doing so is exacting a massive toll on the economy. While the full measure of the effects of this crisis will not be known...more
Effective December 20, 2019, the "Taxpayer Certainty and Disaster Tax Relief Act of 2019" makes two legislative changes of special interest to tax-exempt organizations.
Retroactive Repeal of Nonprofit "Parking Tax" -...more