I seem to have been on a writing sabbatical for the last year. Over the course of the year, I have discovered a few new planning ideas to share going forward. From previous articles you already know that I grew up in the...more
In our previous blog post on the 2024 Heckerling Institute on Estate Planning, we highlighted some of the concepts and cases related to valuation that were discussed at the conference. In this second post, we share some of...more
With the 2024 election cycle underway, it is important for exempt organizations to understand and comply with relevant restrictions on political campaign activities to safeguard their tax-exempt status and avoid triggering...more
Many founders are familiar with tax-exempt charitable organizations. These nonprofit entities—which are commonly known by reference to Section 501(c)(3) of the Internal Revenue Code—are operated exclusively for a broad range...more
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
Many of our clients are charitably inclined, and incorporate charitable planning into their overall estate planning. This can be as simple as making gifts to charities during life or via specific bequests in a Will....more
Section 501(c)(4) of the Internal Revenue Code (“IRC”) exempts from the federal income tax certain nonprofit corporations that are operated exclusively for the promotion of social welfare (commonly referred to as “Social...more
Nonprofit entities that intend to operate as tax-exempt organizations described in section 501(c)(4) of the Internal Revenue Code (Code) are subject to new reporting requirements with the IRS. Specifically, newly-enacted...more
On July 8, 2016, the Internal Revenue Service (IRS) issued Revenue Procedure 2016-41 implementing a provision of the Protecting Americans from Tax Hikes Act of 2015 (the “PATH Act”). The provision, Section 405 of the PATH...more
The IRS published temporary proposed regulations on July 12, 2016 that will impact all 501(c)(4) social welfare organizations formed after July 8, 2016. The proposed regulations will also impact many existing 501(c)(4)...more
Although 501(c)(4) organizations have been in the news recently for potentially engaging in too much political activity, it is worth noting that a relatively obscure Senate amendment from 1995 prohibits lobbying by certain...more
It has been five years since the U.S. Supreme Court decided Citizens United v. FEC. When the Supreme Court first decided the case, which allows individuals, corporations and special interest groups to spend unlimited...more
A wide array of organizations can qualify to be recognized as exempt from federal income taxes. Most noted of late are those organizations which are structured to “promote social welfare” and which can seek tax-exempt status...more
Citizens United helped spur the formation of IRS 501(c)(4) social welfare organizations that became engaged in independent political activities. ...more