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Nonprofits Tax Business Organization

Read need-to-know updates, commentary, and analysis on Nonprofits issues written by leading professionals.

Tax Cuts and Jobs Act – New Compensation Tax for Non-Profit Organizations on Excess Compensation and Excess Parachute Payments

by Foley & Lardner LLP on

The Tax Cuts and Jobs Act passed late last year and became effective as of January 1, 2018. The Act includes a new provision that subjects certain “excess compensation” paid by exempt organizations (organizations exempt from...more

More New Tax Legislation

by Bryan Cave on

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

Tax Reform: Provisions Directly Affecting Tax-Exempt Organizations

by Foley & Lardner LLP on

he Tax Cuts and Jobs Act was signed into law on December 22, 2017. This tax reform law includes the following changes directly affecting nonprofit and tax-exempt organizations, and those who donate to them. A number of...more

Tax Reform: Compensation and Benefits

by Burns & Levinson LLP on

The new federal tax reform, signed into law by President Trump on December 22, 2017, will change tax liabilities and strategies for many organizations and individuals beginning this year. The following is a summary of key...more

The Good, the Bad, and the Tax-Exempt Organization: The New Tax Bill’s Effect on Benefits and Compensation Offered by Institutions...

by Bryan Cave on

On December 22, President Trump signed “An Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018” (“Bill”) into law. The Bill was previously named the...more

Considerations for Tax-Exempt Organizations under the New Tax Cuts and Jobs Act

The recent Tax Cuts and Jobs Act (“TCJA”) is the largest tax code rewrite in several decades and includes significant changes for the nonprofit sector. Three major changes that raise complex issues for tax-exempt...more

Form 1023-EZ Revisions

by Bryan Cave on

The IRS revised Form 1023-EZ, Streamlined Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code, and its instructions to help small charities apply for 501(c)(3) tax-exempt status....more

Tax Cuts and Jobs Act: Impact on Tax-Exempt Organizations

On December 22, 2017, President Donald Trump signed into law the Tax Cuts and Jobs Act (the Act), which imposes a new excise tax on certain tax-exempt organizations for compensation paid to their covered employees in excess...more

Key Tax Reform Issues for Nonprofit Membership Organizations/Associations

Associations avoided the harshest proposals but should be aware of several important new tax issues. Associations subject to unrelated business income tax can no longer use losses in one unrelated business to offset income...more

Tax Cuts and Jobs Act Summary

by WilmerHale on

On December 22, 2017, President Trump signed sweeping tax reform legislation (H.R. 1) into law. The new law, commonly known as the Tax Cuts and Jobs Act (the “Tax Act”), makes significant changes to the Internal Revenue Code...more

Tax Act: New Laws Affecting Tax-Exempt Organizations

by WilmerHale on

The Tax Act contains a number of provisions that significantly affect tax-exempt organizations, in some cases to degrees not seen in decades. In addition, several provisions may indirectly affect tax-exempts, for example, by...more

Tax Act: Taxation of Fringe Benefits After Tax Reform

by WilmerHale on

The Tax Act makes changes to the tax treatment of fringe benefits that impact both employers and employees. Employers are now denied certain deductions to which they were previously entitled, including expenses for parking...more

UK charities seeking opinions on their equivalency to US tax-exempt charities

by DLA Piper on

On 2 October 2017, the IRS provided guidance to US tax advisers for issuing opinions to the effect that a non-US charity is equivalent to an analogous tax-exempt US charity (Rev. Proc. 2017-53, 2017-40 IRB 263). Few non-US...more

Tax Reform Could Cost Tax Exempt Entities

by Poyner Spruill LLP on

Under the recently enacted tax reform act (Tax Cuts and Jobs Act), tax-exempt organizations may be required to pay a 21 percent excise tax on certain compensation and certain separation pay. The new excise tax applies...more

The New Tax Reform Law: Highlights of Provisions Affecting Health Care and Nonprofits

by Epstein Becker & Green on

On December 22, 2017, President Trump signed into law tax reform legislation (the “Act”), which contains many substantial changes to the Internal Revenue Code (the “Code”). This Client Alert provides a brief description of...more

New Tax Law Brings Penalties for Top Paid Non-Profit Executives

The “intermediate sanctions” rules under Section 4958 of the Internal Revenue Code have long governed the payment of compensation to executives of public charities. While these rules are highly prescriptive, if followed, they...more

Tax Reform and Nonprofits: The Law Formerly Known as the Tax Cuts and Jobs Act

by Morgan Lewis on

On December 22, 2017, US President Donald Trump signed H.R. 1, enacting fundamental changes to the US tax law that affect all sectors of the economy, including nonprofits. Earlier this week, the US House of...more

Tax Reform: Key Provisions for Tax-Exempt Organizations

by Ropes & Gray LLP on

After much uncertainty surrounding competing bills, the House of Representatives voted to pass comprehensive tax reform legislation (the “Act”) on December 20, 2017, shortly after the Senate passed the measure. The Act will...more

Compromise Tax Reform Bill

by Stoel Rives LLP on

After the House and Senate passed different versions of a comprehensive tax reform bill, a conference committee convened and released on Friday a compromise version of comprehensive tax reform, the “Tax Cuts and Jobs Act”...more

Wealth Management Update - December 2017

by Proskauer Rose LLP on

December Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The December § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs...more

Updates for Tax-Exempt Organizations from the Senate Bill

Early on December 2, 2017, the Senate passed the Tax Cuts and Jobs Act (the “Senate Bill”). This blog entry describes certain provisions of the Senate Bill that would have the most significant impact on the nonprofit...more

More Scrutiny of Donor Advised Funds

by Bryan Cave on

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

Final Senate Tax Bill: Outlook for Tax-Exempt Organizations

by McDermott Will & Emery on

The Senate’s final tax reform bill contains several troubling provisions for tax-exempt organizations but represents an improvement over last month’s proposed legislation, which caused concern across the nonprofit sector. ...more

“Philanthro-sales”: How the Tax-Bill Exception Could Provide a New Venue for Private Foundations

by Nilan Johnson Lewis PA on

Outside-the-box-thinking could give private foundations a reason to be excited about an obscure provision in the tax bills passed by the House and currently pending in the Senate....more

House of Representatives Passes the Tax Cuts and Jobs Act (H.R. 1); Senate Finance Committee Approves Modified Version; Comparison...

by Proskauer - Tax Talks on

Yesterday afternoon, the House of Representatives passed the Tax Cuts and Jobs Act (H.R. 1) (the “House bill”). The House bill is identical to the draft bill approved by the House Ways and Means Committee on November 10. Late...more

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