"New Rules Impact Compensation Arrangements of Governmental and Tax-Exempt...
On June 22, 2016, the IRS published much-anticipated proposed regulations under Internal Revenue Code Section 457 impacting certain plans maintained by state or local governments or other tax-exempt...
View ArticleKeep Calm and Carry On: Philanthropy After Brexit
On June 23, the people of the United Kingdom voted to leave the European Union. The decision to leave—commonly known as “Brexit”—has dominated headlines, rattled financial markets, and triggered...
View ArticleMaryland Enacts Mandatory Private-Sector Retirement Program That Impacts Most...
Maryland joins California, Connecticut, Illinois, and Oregon in leading state initiatives to set up state-sponsored retirement plans for employees. The Maryland Small Business Retirement Savings...
View ArticleWealth Management Update - July 2016
July Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The July § 7520 rate for use with estate planning techniques such as CRTs,...
View ArticleOpenStreetMap Publishes Collective Database Guidelines (Examples Included)
OpenStreetMap (OSM) is a map of the world based upon data contributed by volunteers from around the globe. It is operated by the OpenStreetMap Foundation on behalf of the volunteer community....
View ArticleIRS Issues Proposed Regulations Under Code Section 457
On June 21, 2016, the Internal Revenue Service (IRS) issued long-awaited proposed Treasury Regulations prescribing rules under Section 457 of the Internal Revenue Code (the "Code") for the income...
View ArticleSection 409A, 457 IRS Proposed Regulations
Section 409A - On June 22, 2016 the Internal Revenue Service issued new proposed regulations on the income inclusion provisions of Section 409A. These regulations will be of interest to employers that...
View ArticleIRS Issues Proposed Regulations Under Code Section 457 Affecting Deferred...
The Internal Revenue Service recently issued proposed regulations under Section 457 of the Internal Revenue Code (the “Code”) that prescribe rules regarding deferred compensation plans sponsored by...
View ArticleOctober 1 Compliance Deadline for Section 501(R) Regulations
Is your hospital one of the hundreds of charitable hospitals with fiscal years ending Sept. 30? If so, your hospital has only a short amount of time to put in place policies and procedures to comply...
View ArticleThe Impact of Recently Proposed Regulations on Ineligible Nonqualified Plans...
The Treasury Department and the Internal Revenue Service recently issued comprehensive proposed regulations governing nonqualified plans subject to tax under Internal Revenue Code § 457. Code § 457...
View ArticleGood News! New 409A Regulations (Yes, Really!) – Part 1: Firing Squad
On the TV show Futurama, the aged proprietor of the delivery company Planet Express, Professor Hubert J. Farnsworth, had a habit of entering a room where the other characters were gathered and sharing...
View ArticleEO Update: e-News for Charities & Nonprofits
New requirement for organizations intending to operate under Section 501(c)(4): Submit Form 8976 - New legislation enacted at the end of 2015 added section 506 to the Internal Revenue Code. Section 506...
View Article[Video] Hyper-Transparency and Corporate Anti-Corruption
In part one of a two-part interview, Alison Taylor, Director of advisory services at BSR, a non-profit consultancy and company network focused on sustainability and CSR, and James Cohen, an expert on...
View ArticleNew IRS Notification Requirement for Certain 501(c)(4)s
The IRS published temporary proposed regulations on July 12, 2016 that will impact all 501(c)(4) social welfare organizations formed after July 8, 2016. The proposed regulations will also impact many...
View ArticleSC Department of Revenue Issues New Guidance on Application of Use Tax to...
The South Carolina Department of Revenue (“DOR”) has issued new SC Revenue Ruling #16-6, providing use tax information for individuals, businesses, and nonprofits. The ruling supersedes SC Revenue...
View ArticleIRS Denies Exempt Status for Non-MSSP Accountable Care Organizations
In April, the IRS released a private letter ruling denying section 501(c)(3) status to an accountable care organization (“ACO”) that contracted with third-party payers outside of the Medicare Shared...
View ArticleCautionary Observations from the Proposed 457 Regulations
After more than nine years of deliberations, the IRS has finally released proposed regulations governing all types of deferred compensation plans maintained by non-profit organizations and governmental...
View ArticleProposed Section 409A Regulations Would Clarify Separation from Service...
Pursuant to the final regulations under Section 409A of the Internal Revenue Code of 1986, as amended, a termination of employment generally occurs at such time as the employer and employee reasonably...
View ArticlePATH Act 501(c)(4) Matters Update #2: Notification Requirement Clarified;...
As specified in Notice 2016-09 (discussed in our recent blog post on the PATH Act), the IRS has issued temporary regulations describing new notification procedures and a notification form for certain...
View ArticleIRS Denial of Accountable Care Organizations Raises More Questions Than It...
In a recent ruling, PLR 201615022, the IRS denied tax exemption to an accountable care organization on the basis that the organization was conferring private benefit on its participating physicians by...
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