New DOL Overtime Rule Changes the Landscape for Nonprofits, Too
On May 18, 2016, the U.S. Department of Labor’s Wage and Hour Division (“DOL”) issued a final rule modifying overtime eligibility under the Fair Labor Standards Act. The final rule increases the salary...
View Article501(c)(3)s and the 2016 Federal Election: Do You Know What Your Employees Are...
As the 2016 presidential primary season proceeds, we are quickly approaching the summer conventions and the November presidential election. With the political contests becoming more heated, this post...
View ArticleVolunteers: Can They Really Help Fix Your Issues With New Overtime Rules?
Over the weekend, I finished planning for our June 7th webinar on the new overtime rules. In digging deeper into the materials produced by the Department of Labor on the final rule, I looked at the use...
View ArticleMaintain Separation Between A Nonprofit And The Foundation That Supports It
A nonprofit corporation is a business with assets and liabilities just like any other business. When a nonprofit runs into financial trouble, its creditors usually do the same thing as creditors of a...
View ArticleFTC Oversight May Be Extended To Include Charities
We have recently written about the increasing importance of cybersecurity as an aspect of risk management for nonprofits in light of the proliferation of data security breaches across different...
View ArticlePerspectives - June 2016
In April 2016, the Department of Labor (DOL) released the final version of the fiduciary rule. The final rule was six years in the making and impacts retirement plans, including 401(k) plans, and the...
View ArticleQ&A on the FLSA’s Changes to Overtime Exemptions
Last month, we discussed the U.S. Department of Labor’s (DOL) recently published final rule making changes to the so-called “white collar” overtime exemptions under the Fair Labor Standards Act (FLSA)....
View ArticleIRS "Free Speech" Act Seeks to Make Charitable Contributions Confidential
On April 26, 2016, a bill intended to modify the reporting requirements for tax-exempt organizations was introduced in the House. The bill, called the “Preventing IRS Abuse and Protecting Free Speech...
View ArticleThe Tax Consequences of John Oliver’s $15 Million Medical Debt Forgiveness
It was widely reported that on the June 5 episode of the HBO program, Last Week Tonight, John Oliver forgave nearly $15 million of medical debt. That’s not quite right. This blog explains what really...
View ArticleCorporate Political Activity, Reputational Risk Management and the 2016...
As the 2016 presidential primary season concludes, we are quickly approaching the summer conventions and the November presidential election. With the political contests becoming more heated, this post...
View ArticleAdvisory Committee on Tax Exempt and Government Entities (ACT) Presents its...
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......By: Bryan Cave
View ArticleNew York State Announces Broad Set of Ethics and Campaign-Finance Reforms
Late last week, New York Governor Andrew Cuomo and State legislative leaders announced agreement on a broad set of ethics and campaign-finance reforms focused on increased disclosure, transparency, and...
View ArticleA Reminder: Increased Minimum Wages for Santa Monica and Los Angeles
An increase in temperatures will not be the only increase employers will see this July: employers in the City of Los Angeles and in the City of Santa Monica are reminded that minimum wages will...
View ArticleWhy Should Hospitals with “Church Plans” Be Concerned Now? - Hospital...
Religiously affiliated hospitals and health systems have recently come under attack by private litigants for exercising the right to remain exempt from ERISA requirements. Such hospitals and health...
View ArticleProposed Regulations Issued on Deferred Compensation Arrangements for...
Today, Treasury and the IRS released proposed regulations under §457 of the Code, which governs the tax treatment of nonqualified deferred compensation paid to employees and independent contractors by...
View ArticleIRS makes exempt organizations’ Form 990 data available in machine-readable...
On June 16, 2016, the IRS announced that it will be making Form 990s available in machine-readable format through Amazon Web Services. While this information has always been available to the public, it...
View ArticleFlexibility Offered for Deferred Compensation Plans of Tax-Exempt...
The U.S. Treasury Department has issued two sets of proposed regulations, under Sections 457 and 409A of the Internal Revenue Code, relating to deferred compensation plans of state and local...
View ArticleSpotlight on Non-Profits: IRS Lowers Tax-Exemption Application User Fees for...
In the recently issued Revenue Procedure 2016-22, the IRS announced that it is lowering the user fee associated with the submission of Form 1023-EZ for organizations seeking recognition of their...
View ArticleIRS Issues Regulations Affecting Compensation Arrangements at Tax-Exempt...
On June 21, the IRS issued long awaited proposed regulations under Section 457 of the Internal Revenue Code that affect a broad range of compensation arrangements at tax exempt organizations. If a...
View ArticleNPRA Redux: Proposed NPCL Amendments Approved by Senate and Assembly
The New York State Assembly and Senate have passed a bill that, if signed by the Governor, would amend the Not-for-Profit Corporation Law (the “NPCL”) and the Estates, Powers and Trusts Law (the...
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