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Government Entities Internal Revenue Service

Jones Day

Circuit Split Widens on Extent of Abrogation of Sovereign Immunity for Governmental Units in Bankruptcy Avoidance Litigation

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Bankruptcy trustees and chapter 11 debtors-in-possession ("DIPs") frequently seek to avoid fraudulent transfers and obligations under section 544(b) of the Bankruptcy Code and state fraudulent transfer or other applicable...more

Freeman Law

Extra, Extra: IRS Division of Tax Exempt and Government Entities Releases FY2023 Program Letter

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On November 4, 2022, the Tax Exempt and Government Entities division of the IRS (TE/GE) released its Fiscal Year 2023 Program Letter (2023 Program)....more

McDermott Will & Emery

Special IRS Team Working to Identify Emerging “Abusive Transactions”

Earlier this year, the Internal Revenue Service (IRS) announced the creation of a new Joint Strategic Emerging Issues Team (JSEIT). The new initiative, announced at the New York University School of Professional Studies Tax...more

BCLP

IRS suspends issuance of several delinquent return notices for government entities, charities and retirement plans

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The IRS is suspending the issuance of several notices generally mailed to tax-exempt or governmental entities in case of a delinquent return. Due to the historic pandemic, the IRS hasn’t yet processed several million returns...more

McDermott Will & Emery

IRS Chief Counsel Signals Increased Tax Enforcement

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The Internal Revenue Service (IRS) Chief Counsel is the chief legal advisor to the Commissioner of Internal Revenue on all matters pertaining to the interpretation, administration and enforcement of the Internal Revenue Laws....more

Freeman Law

IRS Tax Exempt and Government Entities: A Summary of the Past Year

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On January 6, 2022, the Tax Exempt and Government Entities (TE/GE) released its Fiscal Year 2021 Accomplishments Letter. Here is a summary below...more

BCLP

TE/GE Fiscal Year 2021 Accomplishments Letter

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Tax Exempt and Government Entities is pleased to release our Fiscal Year 2021 Accomplishments Letter. Highlights of our accomplishments during the last fiscal year include...more

McDermott Will & Emery

Weekly IRS Roundup October 4 – October 8, 2021

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Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of October 4, 2021 – October 8, 2021... October 4, 2021: The IRS released a practice unit,...more

BCLP

Tax Exempt and Government Entities Fiscal Year 2020 Accomplishments Letter

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Tax Exempt and Government Entities is pleased to release our Fiscal Year 2020 Accomplishments Letter (PDF). Highlights of our accomplishments during the last fiscal year include...more

BCLP

New TE/GE Compliance Program Initiatives

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TE/GE has updated its Compliance Program and Priorities webpage. This page provides information about initiatives under each of our compliance program’s six components that work together to promote compliance by tax-exempt...more

McDermott Will & Emery

IRS Targets Private Foundations That May Be Used by Wealthy Taxpayers in Tax Planning

McDermott Will & Emery on

?In remarks at the NYU Tax Controversy Forum on June 18, 2020, Internal Revenue Service (IRS) officials indicated that the agency is analyzing the use of private foundations for tax planning. Ms. Tamera Ripperda, who is the...more

Carlton Fields

US Treasury and IRS Targets for Audit

Carlton Fields on

On October 8, 2019, the U.S. Department of Treasury and the IRS released the 2019-2020 “Priority Guidance Plan” for the 12-month period running from July 1, 2019, through June 30, 2020. The plan sets out the agencies’...more

BCLP

TE/GE Fiscal Year 2020 Program Letter

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TE/GE is pleased to announce the release of the Fiscal Year 2020 Program Letter issued by Tamera Ripperda, our new Tax Exempt and Government Entities Commissioner. TE/GE’s compliance program is driven by six portfolio...more

BCLP

TE/GE Fiscal Year 2019 Program Letter

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The Fiscal Year 2019 Program Letter explains TE/GE’s compliance program consisting of: ..Compliance strategies ..Data-driven approaches ..Referrals, claims and other casework ..Compliance contacts ...more

BCLP

Cautionary Observations from the Proposed 457 Regulations

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After more than nine years of deliberations, the IRS has finally released proposed regulations governing all types of deferred compensation plans maintained by non-profit organizations and governmental entities. In...more

BCLP

Advisory Committee on Tax Exempt and Government Entities (ACT) Presents its Report of Recommendations on June 8, 2016

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On June 8, 2016, the 21 members of the ACT presented its 15th report of recommendations to the IRS in a public meeting in Washington, DC. The ACT report addressed five issues...more

McGuireWoods LLP

IRS Regulatory Guidance for Supporting Organizations

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The Pension Protection Act of 2006 made significant changes to the rules applicable to supporting organizations, and in particular Type III supporting organizations. The latest regulatory guidance from the IRS continues the...more

Butler Snow LLP

IRS Releases Proposed Regulations Defining a “Political Subdivision” For Purposes of Determining Eligibility to Issue Tax-Exempt...

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On February 22, 2016, the Internal Revenue Service (the “IRS”) released proposed treasury regulations (the “Proposed Regulations” ) to provide guidance as to how the IRS intends to prospectively define a “political...more

Cozen O'Connor

IRS Releases Final Regulations Facilitating P3s and Mixed-Use Developments, and Remedial Actions

Cozen O'Connor on

On October 26, 2015, the Internal Revenue Service released final allocation and accounting regulations (the Final Regulations) under Section 141 of the Internal Revenue Code of 1986, as amended (the Code) related to...more

McCarter & English, LLP

At Long Last – Allocation and Accounting Rules

Good things come to those who wait. The tax-exempt bond industry has waited 18 years for a missing reserved section of the private activity bond regulations, the allocation and accounting regulations, Treas. Reg. Section...more

Proskauer - Not for Profit/Exempt...

New Flexibility for Joint Ventures Using Tax-Exempt Bond-Financed Property

On October 26, 2015, the IRS released final regulations under Sections 141 and 145 of the Internal Revenue Code concerning the use of property financed with tax-exempt bond proceeds. The bulk of the new regulations fill a...more

K&L Gates LLP

New Nevada Commerce Tax Effective July 1, 2015

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While not purporting to give specific advice on Nevada tax law, the following is a summary of some of the general principals underlying the new tax law. A new Nevada Commerce Tax (“NCT”) was signed into law by Nevada Governor...more

Franczek P.C.

IRS Announces Potential Changes to Determination Letter Program

Franczek P.C. on

The commissioner for the Tax Exempt and Government Entities Division of the IRS stated during a recent conference that the IRS plans to change its determination letter program in 2017. Individually designed plans are...more

Proskauer - Not for Profit/Exempt...

IRS Commissioner Says IRS is “Under New Management;” What’s Happened Over the Past Year In the IRS Affecting Tax-Exempt...

On March 31, 2015, the Commissioner of the IRS reported in a speech to the National Press Club that the IRS is “under new management” due to major changes in management staff over the last few years. Many of these management...more

Proskauer - Not for Profit/Exempt...

Advisory Committee on Tax Exempt and Government Entities Makes Recommendations on Reporting of Unrelated Business Taxable Income

The Advisory Committee on Tax Exempt and Government Entities (“ACT”), an IRS advisory panel, made several recommendations on issues relating to unrelated business taxable income (“UBTI”) in its annual report to the IRS (the...more

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