Changes to User Fees for Voluntary Correction Program (VCP) Submissions
On January 4, 2016, the Internal Revenue Service published its annual update of user fees Rev. Proc. 2016-8 for various letter ruling and determination letter requests. The 2016 update now includes...
View Article2016 Tax Update Letter
Re: 2016 Tax Update - Dear Clients and Colleagues: This letter is an update on the most recent estate and gift tax developments and serves as a follow-up to our previous annual tax updates....By:...
View ArticleThe Erosion of Charitable Immunity for Virginia’s Colleges and Universities...
Historically, Virginia courts have treated non-profit colleges and universities as charitable institutions which are insulated from liability for simple negligence. This rule (known as the doctrine of...
View ArticleIs Your Charitable Contribution Safe?
In a soon-to-be-released article, Charities in Financial Distress: The Impact of Bankruptcy on Donor-Restricted Funds, Richard Fox, Jonathan Blattmachr, and Benjamin Bolas explore one aspect of...
View ArticleCourt Reaffirms CA Attorney General’s Demand for Donor List
Donor information is expected to remain confidential. With an apparent thumbs up from the U.S. Supreme Court, the Ninth Circuit Court of Appeals once again upheld the position of the California...
View ArticleHow Your IRA Can Benefit Both Your Heirs and Charity
Do you want to use your IRA to help a charity, but also benefit your heirs? Instead of leaving your IRA directly to your children, you can leave it to a charitable remainder unitrust (CRUT) while still...
View ArticleChanging the Changes: 2015 Revisions to the New York Non-Profit...
The Non-Profit Revitalization Act of 2013 (the “2013 Act”) carried out the first major overhaul of the New York Not-for-Profit Corporation Law (the "NPCL") in four decades. A number of changes to the...
View ArticleWill Newspapers Evolve as Nonprofits?
Saying newspapers have struggled over the past decade – even longer, really – will shock no one. Readership and print advertising have declined precipitously in the face of digital competition....By:...
View ArticleIRS GuideWire 2016-09
Notice 2016-09 extends the date by which social welfare organizations must notify the Internal Revenue Service of intent to operate under section 501(c)(4), as required by new section 506, added to the...
View ArticleCRA Ends Political Activities Audit Program for Charities
On January 20, the CRA announced that its controversial political activities audit program for charities has been wound-down. From the CRA news release: The results of the political activities audit...
View ArticleIRS To EOs: We Can’t Help
Every January, the IRS releases a series of revenue procedures detailing how organizations can obtain private letter rulings and determinations and listing issues on which the IRS will not rule during...
View ArticleThe Three Most Important Provisions for S Corporations Under PATH Act
It has become a tradition that at the end of each year, Congress passes legislation to extend previous legislation. In late 2015, Congress passed Public Law 114-113, which contains the Protecting...
View ArticleUncertainty Remains Surrounding the Nonprofit Hospital Tax Exemption
In a recent ground-breaking decision, the New Jersey Tax Court in AHS Hospital Corp., d/b/a Morristown Memorial Hospital v. Town of Morristown shattered the previous near incontestability of the tax...
View ArticlePATH Act 501(c)(4) Matters Update: Notification Requirement Postponed,...
Since enactment of the PATH Act on December 18, 2015, exempt organizations have been waiting for IRS guidance on the new Section 501(c)(4) notification requirement and procedures for organizations...
View ArticleLobbying Restrictions for 501(c)(4)s Receiving Federal Grants, Loans or Other...
Although 501(c)(4) organizations have been in the news recently for potentially engaging in too much political activity, it is worth noting that a relatively obscure Senate amendment from 1995...
View ArticleHow to Make Sure You Don't Lose Your Charitable Contribution Deduction
In order for a U.S. taxpayer to deduct contributions to charity on his or her federal income tax return (Form 1040), the taxpayer must comply with very specific rules set forth in the Internal Revenue...
View ArticleReligious Institutions Update: January 2016
Timely Topics - The Internal Revenue Service (IRS) issued on Dec. 17, 2015, a memorandum instructing its examiners not to conduct employment tax audits of churches without getting in touch with a...
View ArticleWhen interest rates are low, it’s high time for estate planning
Interest rates remain at record lows, and while many experts believe they’ll begin to rise soon, it’s likely they’ll rise slowly. So it’s an ideal time to implement estate planning strategies that are...
View ArticleRecent Amendments to the Nonprofit Revitalization Act of 2013
On October 26, 2015 and December 11, 2015, Governor Cuomo signed into law certain clarifying amendments (the “Amendments”) to the provisions of the New York Not-For-Profit Corporation Law that were...
View ArticleNew Federal Bill Would Allow Risk Retention Groups to Cover Property
A bill recently introduced in the House seeks to expand the authority of Risk Retention Groups (“RRGs”) to write property, and not just commercial casualty, coverage. HR 3794, which was introduced on a...
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