News & Analysis as of September 21, 2024

501(c)(3)

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The Corporate Transparency Act and Tax-Exempt Organizations

Lathrop GPM on 12/20/2023

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

The Tax Court in Brief - May 2021

Freeman Law on 5/24/2021

Freeman Law’s “The Tax Court in Brief” covers every substantive Tax Court opinion, providing a weekly brief of its decisions in clear, concise prose. The Week of May 3 – May 7, 2021 - Chancellor v. Comm’r, T.C. Memo....more

Federal Tax Law Considerations for Financings COVID 19 Costs on a Tax Exempt Basis: What Issuers Need to Know

Orrick, Herrington & Sutcliffe LLP on 4/3/2020

States, municipalities and 501(c)(3) organizations (Issuers) likely will have to incur significant expenses in their fight against COVID-19. Even if Issuers have reserves available for these costs, there are a few different...more

TCJA excise tax on excess executive compensation for nonprofits

Bricker Graydon LLP on 1/10/2019

Beginning with the 2018 tax year, nonprofit organizations that pay their top executives more than $1 million per year are subject to a new 21 percent excise tax. ...more

Trump’s Tax Reform: Effect on Nonprofits

Bowditch & Dewey on 3/6/2018

The Administration’s frenzy to pass “tax reform” created tax breaks for some—I’m looking at you, the Trump family—increased taxes for others, and confusion for everyone, at least until the IRS is able to promulgate official...more

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