Nonprofit Basics: Navigating the Complex Rules That Describe a Public Charity
Every nonprofit is unique, with its own mission, structure, and history. At the same time, they share certain common characteristics – core governing documents, Form 1023, and an IRS determination letter, to name just a few....more
Welcome to EO Radio Show. This nonprofit basics episode is intended to help a founder of a new charity to navigate the complex rules that describe a public charity. Many people think that the designation 501(c)(3) means an...more
Tax-exempt organizations (including private foundations, which are subject to special additional disclosures) are subject to certain public disclosure rules. These rules require that the organization make its exemption...more
As of January 31, 2020, organizations are required to submit Form 1023, Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code, electronically through the online platform Pay.gov. The...more
The IRS recently announced that Form 1023, Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code, may only be filed electronically. Although the effective date of the change is January...more
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
The IRS will focus on private benefit, private inurement, payroll tax, and other compliance issues associated with exempt organizations in upcoming year....more
The IRS released an updated Form 990-EZ, Short Form Return of Organization Exempt from Income Tax with the purpose of helping small to mid-size tax-exempt organizations avoid common mistakes. Tax-exempt organizations whose...more
Although comprehensive tax reform in 2016 is unlikely in the midst of an election year, so far in 2016, parties on all sides have proposed specific changes to the rules applicable to exempt organizations. Lawmakers in...more
The Protecting Americans from Tax Hikes (“PATH”) Act of 2015, enacted in December 2015, requires organizations to notify the IRS if they desire to operate under Section 501(c)(4) of the Internal Revenue Code (“Code”). (Only...more
In the recently issued Revenue Procedure 2016-22, the IRS announced that it is lowering the user fee associated with the submission of Form 1023-EZ for organizations seeking recognition of their tax-exempt status under...more
The American Logistics Aid Network (ALAN) was founded by several professional and trade associations that came together after Hurricane Katrina to help provide humanitarian relief. Today, ALAN comprises hundreds of supply...more
August Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The August § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and...more
Streamlined? Easy? Rarely are these two words used to describe activities by the Internal Revenue Service. However, the regulatory landscape for small nonprofits seeking exempt status is changing, and on July 1, 2014, the...more