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Filing Requirements Internal Revenue Code (IRC)

Pillsbury Winthrop Shaw Pittman LLP

IRS Issues Proposed Updates to Qualified Domestic Trust Regulations

The proposed regulations update outdated references and information under the current regulations, including references to temporary regulations, IRS officials, offices and addresses. The proposed regulations conform with...more

Fox Rothschild LLP

IRS Issues New Guidance for Cannabis Companies That Receive Over $10K in Cash

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The IRS’s Office of Chief Counsel recently published a memorandum providing information for cannabis companies struggling to comply with the completion of Form 8300, which must be filed every time a company receives a cash...more

Farella Braun + Martel LLP

Nonprofit Quick Tip: State Filings in North Carolina and South Carolina

Welcome to EO Radio Show - Your Nonprofit Legal Resource. Episode 75 is the tenth in a series of Quick Tip episodes focusing on the details of state registration of nonprofit corporations. Today, Cynthia Rowland and Joe...more

McDermott Will & Emery

TTB Ramps Up Tax Audits and Enforcement

McDermott Will & Emery on

The Alcohol and Tobacco Tax and Trade Bureau’s (TTB) Office of Field Operations is responsible for ensuring industry members comply with the Federal Alcohol Administration Act, the Internal Revenue Code and all related...more

Farella Braun + Martel LLP

REFRESH Nonprofit Basics: Election Year Issues for Private Foundations and Public Charities - Private Foundation Advocacy

Welcome to EO Radio Show - Your Nonprofit Legal Resource. Here we are, solidly in the 2024 election year, and that means that private foundations need to refresh their understanding of election year issues for organizations...more

Farella Braun + Martel LLP

REFRESH Nonprofit Basics: Election Year Issues for Private Foundations and Public Charities - Legislative Lobbying and Advocacy...

Welcome to EO Radio Show - Your Nonprofit Legal Resource. As most listeners are undoubtedly aware, 2024 is an election year, and that means that charities and private foundations need to refresh their understanding of...more

Snell & Wilmer

Certain Information Statements for ISOs and ESPPs Due by January 31, 2024

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As reported in Part 4 of our 2022 End of Year Plan Sponsor “To Do” List, Section 6039 of the Internal Revenue Code (the “Code”) requires employers to provide a written information statement to each employee or former...more

Mintz - Employment Viewpoints

Corporations with 10 or More ISO or ESPP Reporting Obligations on Forms 3921 or 3922 Should Take Notice of Revised Electronic...

Each year, corporations that have employees who exercise incentive stock options (ISOs) as described under Section 422(b) of the Internal Revenue Code must file a Form 3921 with the IRS for each transfer of stock to those...more

Verrill

Safe Harbor Exception for De Minimis Dollar Amount Reporting Errors

Verrill on

As part of the routine administration of employee benefit plans, shortly after the end of a calendar year, many transactions must be reported to the federal government (“information returns”) and participants (“payee...more

Stinson LLP

1099-K Reporting: IRS Further Delays the Day of RecKoning

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In early November, we issued an alert on the filing of information returns by payment settlement entities, such as PayPal or Venmo, when sellers of goods or services use them to carryout payments with buyers (see 1099-K...more

Gray Reed

IRS Concedes Yet Another Form 3520 Related Penalty Case

Gray Reed on

United States citizens and residents are often not aware of the myriad of foreign information return filing obligations that exist under federal tax laws.  For example, buried within the Code are reporting obligations...more

Stinson LLP

1099-K Reporting: Is a Day of RecKoning Coming Soon?

Stinson LLP on

In the American Rescue Plan Act of 2021, Congress lowered the minimum reporting threshold from $20,000 to $600 for filing information returns relating to reportable payment transactions that are facilitated by payment...more

Farella Braun + Martel LLP

Nonprofit Basics: What Nonprofits Need To Know About Expenditure Responsibility Grant Requirements

Welcome to EO Radio Show – Your Nonprofit Legal Resource. Today, Cynthia Rowland talks about the meaning of expenditure responsibility or ER grants made by private foundations. The term expenditure responsibility refers to...more

DarrowEverett LLP

IRS Response to Israel’s Declaration of War: Relief to Impacted Taxpayers, But Extensions Granted to Its Enforcement Arm

DarrowEverett LLP on

In IRS Notice 2023-71 (the “Notice”), the Internal Revenue Service (“IRS”) granted a postponement until October 7, 2024 for various time-sensitive filing and payment deadlines for taxpayers affected by the terrorist attacks...more

Bricker Graydon LLP

The IRS Introduces New Procedures for Nonprofits Making Miscellaneous Determination Requests

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In the midst of tax season, the IRS released Rev. Proc. 2023-12 establishing new procedures for nonprofit and tax-exempt entities making miscellaneous determination requests. As with recent procedural changes to Forms 1023,...more

Groom Law Group, Chartered

IRS Provides An “Electric Shock” By Lowering Mandatory Electronic Filing Threshold

On February 23, 2023, the IRS published final regulations (the “Final Rule”) that materially expand which reporting entities must file electronically rather than on paper.  These requirements apply to a number of tax returns,...more

Weber Gallagher Simpson Stapleton Fires &...

2022 Tax Season: What Families Need to Know

As the 2022 tax season kicks off, there are important issues that divorcing parties must consider. First, it is always more beneficial to the family unit for the parties to file taxes married filing jointly. Not only does...more

Sheppard Mullin Richter & Hampton LLP

Reminder to Perform Annual ISO/ESPP Reporting in January 2023

As discussed in our December 16, 2010 blog article, the IRS issued final regulations in 2009 under Section 6039 of the Internal Revenue Code (the “Code”) that require employers to annually furnish each employee who exercised...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The Solo 401(k) and Form 5500 trap

I think the Solo 401(k) plan is one of the great treats for sole proprietors. I have been using it for years. The problem is that there is so little help, that sponsors of these plans fall into a trap when they forget that...more

Freeman Law

Minnesota Nonprofit Corporations — Bread and Butter Regulatory Considerations

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Most of the 50 states (and the District of Columbia) have a specific statutory regime for nonprofit corporations. Some states, such as Delaware, regulate nonprofit corporations under general corporate statutes. Over the last...more

Freeman Law

Another IRS Adverse Private Letter Ruling | Revocation of Tax-Exempt Status and Organizational and Operational Issues

Freeman Law on

In this ruling, a corporation’s I.R.C. § 501(c)(3) tax exempt status was under scrutiny. The corporation (“Company”) represented in its articles of incorporation and during its Form 1023 application process that it was...more

Benesch

Lobbying by Tax Exempt Organizations - Part 2

Benesch on

Our advice is often sought about forming a charitable organization for personal reasons, corporate philanthropy or to house the charitable/educational activities of a trade association or a social welfare association. There...more

Bilzin Sumberg

IRS Provides More Guidance on “Relevance” and Foreign Entities Making “Check-the-Box Elections”

Bilzin Sumberg on

In a previous post, we highlighted guidance released by the IRS on the topic of “relevance” and some of the implications it had in the pre-immigration planning context.  More specifically, the guidance addressed issues...more

Orrick, Herrington & Sutcliffe LLP

2022 Annual Reporting Requirements for Incentive Stock Options and Employee Stock Purchase Plans

Annual Information Statements and IRS Returns Requirement to Report For (1) any exercise of an incentive stock option (ISO) during 2021 or (2) transfer during 2021 of a share previously purchased pursuant to a tax-qualified...more

BCLP

EO Update: e-News for Charities & Nonprofits - June 2021

BCLP on

Update on Mandatory Electronic Filing for Form 4720 by Private Foundations - Section 3101 of the Taxpayer First Act requires certain exempt organizations to file information and tax returns electronically for tax years...more

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