Popular, Charitable Donations

IRS Cracks Down on Charitable Contributions of Cryptocurrency

Fox Rothschild LLP on 1/20/2023

On January 13, 2023, the IRS issued Chief Counsel Memorandum 202302012 (the “CCM”) establishing new rules for donations of cryptocurrency. In the CCM, the IRS concluded that taxpayers must obtain a ‘qualified appraisal’ if...more

Financial Firms Continue Expanding into Cryptocurrency Markets; Crypto Donations Reach Ukraine; DOJ Crypto Enforcement Continues;...

BakerHostetler on 3/7/2022

Traditional Financial Firms Expand Reach into Cryptocurrency Sphere - Early this week, a major investment bank announced that it plans to launch a digital asset custody platform later this year. This announcement follows...more

The Biden Presidency: How Will Cannabis Business Be Taxed?

Farrell Fritz, P.C. on 2/22/2021

Wither the Weed? It has been one month since Mr. Biden’s inauguration as President of the United States. Among the many questions being asked of President Biden is whether he will seek the decriminalization of cannabis....more

Surviving the fallout: Special issues facing syndicated conservation easement investors

Eversheds Sutherland (US) LLP on 8/17/2020

In recent months, the IRS has continued its attack on syndicated conservation easement transactions. Many syndicated partnerships are now under IRS audit or have cases pending before the US Tax Court. Moreover, the IRS has...more

New Jersey Announces Voluntary Compliance Program for 501(c)(4) Charitable Registration

Genova Burns LLC on 8/3/2020

The State of New Jersey requires any charitable organization that solicits donations from New Jersey residents to register with the Division of Consumer Affairs within the Attorney General’s office. This requirement has...more

IRS Releases Guidance on Charitable Leave-Based Donation Programs

Morgan Lewis on 6/18/2020

Charitable leave-based donation programs provide employees the option of donating leave that can be converted into cash contributions to charities assisting the victims of the novel coronavirus (COVID-19) pandemic....more

IRS Okays Funding Employer COVID-19 Charitable Contributions from Employee Leave Donations

Blank Rome LLP on 6/18/2020

In a recent announcement (Notice 2020-46), the Internal Revenue Service (“IRS”) provided guidance to employers for how to exchange employee elections to forego vacation, sick, or personal leave for cash payments that the...more

IRS Provides Guidance On Employer Leave-Based Donation Programs That Aid Victims Of The COVID-19 Pandemic

Jackson Lewis P.C. on 6/16/2020

IRS Notice 2020-46 addresses the tax treatment of employees who elect to have their employers donate sick, vacation or personal leave as cash payments to charitable organizations that provide relief to victims of the COVID-19...more

IRS Issues Guidance on PTO Donations to Charity

Littler on 6/15/2020

In Notice 2020-46, the IRS explains how employees can forgo their paid time off balances to allow their employers to make donations to charities that are assisting individuals impacted by the COVID-19 pandemic....more

31 Days to a More Effective Compliance Program - Charitable Donation Enforcement Actions

Thomas Fox - Compliance Evangelist on 5/19/2020

When is a rose not a rose? When it is a charitable donation not made for philanthropic purposes and violates the FCPA. This was a feature of the Eli Lilly and Company (Lilly) FCPA enforcement action brought by the SEC in...more

Summary of Tax Provisions of the CARES Act

Perkins Coie on 4/14/2020

In response to the ongoing coronavirus (COVID-19) pandemic, U.S. Congress, the executive branch, and the Internal Revenue Service (IRS) have taken several actions intended to provide immediate relief to taxpayers. In a prior...more

State AGs Settle Over PayPal’s Lacking Donation Disclosures

Manatt, Phelps & Phillips, LLP on 2/12/2020

A group of 23 state regulators reached a deal with PayPal Giving Fund (PPGF) to settle allegations that it failed to provide adequate disclosures and information to consumers making donations through the platform. As a...more

IRS Provides Additional Clarity Regarding Donations to Scholarship Granting Organizations - SALT Alert: Alabama Edition

Bradley Arant Boult Cummings LLP on 12/19/2019

On December 16, the Internal Revenue Service (IRS) and the Treasury Department issued proposed regulations... that provide some good news and needed clarification for C corporations, individuals, and S corporations and other...more

Weekly IRS Roundup November 25 – 29, 2019

McDermott Will & Emery on 12/2/2019

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of November 25 – 29, 2019. November 26, 2019: The IRS issued a News Release regarding a Revenue...more

IRS Announces Uptick in Conservation Easement Enforcement Actions

Blank Rome LLP on 11/19/2019

Taxpayers who have claimed charitable contribution deductions based on conservation easement arrangements should immediately contact a tax professional. Professionals who have engaged in the marketing of these arrangements...more

IRS Steps Up The Pressure On Abusive Syndicated Conservation Easements

Fox Rothschild LLP on 11/13/2019

The Internal Revenue Service announced today a significant increase in enforcement actions for syndicated conservation easement transactions, a priority compliance area. According to the announcement, coordinated audits are...more

Data Privacy + Cybersecurity Insider - April 2019 #4

Robinson & Cole LLP on 4/29/2019

According to Hiscox’s Third Cyber Readiness Report, which surveyed 5,400 firms in the U.S. and the E.U., cyber threats have “become the unavoidable cost of doing business today.” The Report notes that for the first time, “a...more

Privacy Tip #156 – Don’t Get Scammed for Trying to Help Hurricane Victims

Robinson+Cole Data Privacy + Security Insider on 9/14/2018

As Hurricane Florence bears down on the Carolinas in the next few days, beware of scammers trying to take advantage of the good hearts of those of us who want to help the victims....more

Enforcement and Litigation Strategies: Skadden’s Eighth Annual Pharmaceutical, Biotechnology and Medical Device Seminar

Skadden, Arps, Slate, Meagher & Flom LLP on 3/30/2018

On March 15, 2018, Skadden hosted its Eighth Annual Pharmaceutical, Biotechnology and Medical Device Seminar in Palo Alto, California, which focused on U.S. enforcement issues faced by companies throughout the industry. The...more

Private Client & Trust Tax Reform Advisory

Goulston & Storrs PC on 12/27/2017

On December 22, 2017, the President signed into law H.R. 1, informally known as the “Tax Cuts and Jobs Act” (the “Act”), implementing sweeping changes to United States income tax regimes for individuals and businesses and...more

Nonprofit Guide To The “Tax Cuts And Jobs Act”

Seyfarth Shaw LLP on 12/26/2017

The 2017 “Tax Cuts and Jobs Act” impacts tax-exempt organizations in a variety of ways, including by reducing incentives for charitable giving, applying an excise tax on executive compensation in excess of $1 million per...more

Estate Planning Under the Tax Cuts and Jobs Act

Pillsbury Winthrop Shaw Pittman LLP on 11/29/2017

If enacted, the Tax Cuts and Jobs Act could open up significant estate planning opportunities. The House bill doubles the exemptions from estate, gift and generation-skipping transfer taxes, creating new opportunities for...more

When Disaster Strikes: IRS Guidance Gives Employers Additional Options for Assisting Employees Hit by Hurricanes Harvey and Irma

Foley & Lardner LLP on 9/27/2017

When Hurricanes Harvey and Irma made landfall in Texas and Florida, they gave rise not only to widespread property damage, but to a humanitarian disaster as well. The massive storms have left scores dead and thousands...more

Courts Issue Victories To Conservation Easement Donors

Fox Rothschild LLP on 9/4/2017

August brought three wins for taxpayers who donated conservation easements that were challenged by the IRS. In all of the cases, terms of the conservation easement deed document carried the day....more

SEC Cracks Down on Charitable Contributions under the FCPA - Best Practices In Light of Recent SEC Enforcement

King & Spalding on 10/4/2016

For the first time, the Securities and Exchange Commission has brought an FCPA enforcement action premised entirely on a one-time charitable contribution. On September 20, 2016, the SEC announced a settled FCPA...more

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