Recaps from Proskauer’s 15th Trick or Treat Tax Exempt Seminar
Proskauer’s 15th Trick or Treat Seminar was held on Friday, October 29, 2010. The Seminar discussed: Best Practices for Board Members The Effects of Health Care Reform Executive Compensation...
View ArticleThe New Tax Relief Law – What is in it for Charities?
On Friday, December 17, 2010, the President signed into law the unwieldy titled, “Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010”. In order to help explain the...
View ArticleNational Taxpayer Advocate Recommends Statute of Limitations on Revocation of...
On the last day of 2010, the National Taxpayer Advocate, in its tenth annual report to Congress, recommended that Congress enact a statute of limitations on revocation of a charity’s tax-exempt status,...
View Article275,000 Nonprofits Lose Tax-Exempt Status
The IRS announced June 8, 2011 that approximately 275,000 organizations lost their tax-exempt status because they did not file annual returns for three consecutive years. The IRS has published on its...
View ArticleTreasury Releases Long-Overdue Report on Supporting Organizations and Donor...
Along with making significant changes to the rules for supporting organizations (“SOs”) and donor advised funds (“DAFs”) in the Pension Protection Act of 2006 (the “PPA”), Congress directed that...
View ArticleIRS Finally Confirms that Contributions to Single Member LLCs Owned by...
On July 31, 2012, the IRS issued Notice 2012-52 (the “Notice”), providing long awaited confirmation that a charitable contribution to a limited liability company that is wholly owned by a charitable...
View ArticleNew York Attorney General Issues Best Practices for “Pink Ribbon” and Other...
“Cause marketing campaigns,” or “commercial co-ventures” (i.e., advertising campaigns in which a company indicates that the purchase or use of its products will result in a charitable contribution)...
View ArticleIRS Issues Guidance on Hurricane Sandy Disaster Relief Efforts
In response to the severe damage caused by Hurricane Sandy, the IRS has issued several news releases that provide guidance to charitable organizations, employers, and individuals who want to help...
View ArticleThe American Taxpayer Relief Act of 2012: Stealth Impact on Charities
The American Taxpayer Relief Act of 2012 (“TRA”) (H.R. 8) passed by the Senate on January 1, 2013, passed by the House of Representatives early on January 2, 2013 and signed by President Obama, in...
View ArticleInternet Fundraising for Tax-Exempt Organizations
The IRS recently released an Information Letter, written in response to a congressman’s inquiry about an unidentified charity’s unidentified practices, confirming that Section 501(c)(3) organizations...
View ArticleSenate Finance Committee Staff Compiles Past Proposals for Exempt...
As part of a series of papers outlining tax reform options for the Senate Finance Committee (SFC), the SFC staff recently published a paper on tax reform options for tax-exempt organizations and...
View ArticleRecaps from Proskauer’s 19th Annual Trick or Treat Tax Exempt Seminar
Proskauer’s 19th Annual Trick or Treat Seminar was held on Friday, October 31. The Seminar discussed: Charitable giving techniques Labor and employment issues with using volunteers and interns Recent...
View ArticleNew Rules for Tax-Exempt Organizations in the Tax Cuts and Jobs Act
House Republican Tax Bill Imposes Excise Tax on Wealthy Private Universities and Excess Compensation of Highly Paid Employees; Subjects State Pension Plans to UBTI Rules On Thursday, November 2, House...
View ArticleProskauer’s 24th Annual Trick or Treat Seminar
Proskauer’s 24th Annual Trick or Treat Seminar was held on Wednesday, October 31 and discussed timely topics and best practices specifically tailored to the not-for-profit community. The seminar...
View ArticleSimplification of the Net Investment Income Tax for Private Foundations
On December 20, 2019, President Trump signed into law changes to the private foundation excise tax on net investment income under Section 4940 of the Internal Revenue Code.[1] For purposes of Section...
View ArticleIRS Issues New Guidance for Virtual Currency Donations
The U.S. Internal Revenue Service (IRS) quietly added two new questions and answers regarding virtual currency donations to its answers to Frequently Asked Questions on Virtual Currency Transactions...
View ArticleNew York Attorney General Issues Best Practices for “Pink Ribbon” and Other...
“Cause marketing campaigns,” or “commercial co-ventures” (i.e., advertising campaigns in which a company indicates that the purchase or use of its products will result in a charitable contribution)...
View ArticleIRS Issues Guidance on Hurricane Sandy Disaster Relief Efforts
In response to the severe damage caused by Hurricane Sandy, the IRS has issued several news releases that provide guidance to charitable organizations, employers, and individuals who want to help...
View ArticleRecaps from Proskauer’s 19th Annual Trick or Treat Tax Exempt Seminar
Proskauer’s 19th Annual Trick or Treat Seminar was held on Friday, October 31. The Seminar discussed: Charitable giving techniques Labor and employment issues with using volunteers and interns Recent...
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