Annual COEs and Information Returns – A New Requirement for Many Tax-Exempt...
Beginning January 1, 2016, all organizations that have a statutory exemption from the payment of Alabama sales, use or lodgings taxes--other than certain government entities, public universities and...
View ArticleContributions of Art: Elements of a “Boring” Charitable Contribution Deduction
This article highlights some of the more critical income tax issues that taxpayers and their advisors must address when claiming the charitable contribution deduction for the gift of art to art...
View ArticleNew IRS Regulations for Mixed-Use Projects Financed With Tax-Exempt Bonds...
On October 27, 2015 the U.S. Treasury Department and Internal Revenue Service published final regulations concerning the treatment of “mixed-use” projects financed with tax-exempt bonds. These new...
View ArticleSpotlight On Alabama: A Busy Tax Year in Review
It has been a busy year for developments in Alabama state taxation. In this tax alert we review many of the significant developments that have occurred over the last 12 months....By: Baker Donelson
View ArticleNonprofit Revitalization Act Employed Board Chair Prohibition Delayed to 2017
On October 26, 2015 Governor Cuomo signed into law Chapter 388 of the Laws of New York of 2015 (Assembly Bill A7641/Senate Bill 5738) delaying from January 1, 2016 to January 1, 2017 the effective date...
View ArticleNew 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...
View ArticleIRS Encourages Private Foundations to Consider Charitable Purposes in...
As we previously reported, the IRS has updated its guidance with helpful examples concerning program-related investments for private foundations. In its recently issued Notice 2015-62, the IRS provides...
View ArticleAt 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,...
View ArticleIRS Releases Final Regulations Facilitating P3s and Mixed-Use Developments,...
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...
View ArticleNew IRS Regulations for Mixed-Use Projects Financed With Tax-Exempt Bonds...
On October 27, 2015 the U.S. Treasury Department and Internal Revenue Service published final regulations concerning the treatment of “mixed-use” projects financed with tax-exempt bonds. These new...
View ArticleRecaps from Proskauer’s 20th Annual Trick or Treat Tax Exempt Seminar
Proskauer’s 20th Annual Trick or Treat Seminar was held on Friday, October 30. The Seminar discussed: - Non-Profit Revitalization Act of 2013: Recent Developments and Outstanding Issues - Recent...
View ArticleHealthcare Systems Alert: Legal and Operational Guide for Free Medical Clinics
Free and charitable medical clinics are an important safety net for millions of under- and uninsured Americans. Despite recent political developments, about 30 million Americans remain uninsured....By:...
View ArticleCalifornia Medical Marijuana Regulation and Safety Act: What you need to know
After being the first state to legalize medical marijuana almost 20 years ago, California is implementing regulations across the industry. Commentators have focused on the effective and efficient...
View ArticleLooking For a Way to Satisfy a Charitable Donation? Donate Israeli Bonds!
For many of us in the Jewish community, Israeli Bonds, have become a familiar part of our religious culture. Parents, grandparents and friends give Israeli Bonds as gifts for holidays, special...
View ArticleCross-Border Charitable Activities
The Canada-US treaty provides significant relief for cross-border charitable activities. The treaty, and the competent authority agreement that implements it, says that a religious, scientific,...
View ArticleCybersecurity & Nonprofits: A Matter of Time?
The ever increasing cyber-attacks and data breaches targeting the private sector and government agencies, and the increased focus on cybersecurity plans and preparedness, may seem like remote risks for...
View ArticleComplicit in Sin: the Burden of the Opt-Out Form
Does filling out a form burden religious beliefs? We’re about to find out. On November 6, the Supreme Court agreed to review a group of seven cases (led by No. 14-1418, Zubik v. Burwell) brought by...
View ArticleThe End of the Line – Part I: Year End Tax Planning Strategies
This article is designed to provide an overview of a technique that might allow taxpayers to accomplish significant income tax savings at the end of the 2015 tax year. This planning can be accomplished...
View ArticleEnd of the Line – Part II: Year End Tax Planning Strategies
This article is Part II in a series of tax planning strategies for year-end tax planning for the 2015 tax series. The article addresses the Pooled Income Fund (PIF) which as this article demonstrates,...
View ArticleAlbany County Supreme Court Upholds $199,000 “Hard Cap” on State Funded...
On November 13, 2015, the New York State Supreme Court, Albany County issued a decision in LeadingAge et al. v. Shah, upholding in part and invalidating in part regulations issued by the Department of...
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