New Proposed 457 Regulations May Impact Deferred Compensation Arrangements...
On June 21, 2016, concurrent with its issuance of proposed regulations under Code section 409A, the IRS also issued proposed regulations under Code section 457, which address deferred compensation...
View ArticleThe Tide Rises Waterfront Development in Pennsylvania
Pennsylvania organizations hoping to increase development of public amenities and parks along Pennsylvania’s waterfronts may soon benefit from the new “Waterfront Development Tax Credit” enacted as...
View ArticleExempt Organizations: Potential Amendments to the Nonprofit Revitalization...
On June 16, 2016, the New York State Legislature adopted yet another round of modifications to the Nonprofit Revitalization Act of 2013 (the "NPRA"). The latest revisions to the NPRA are found in...
View ArticleExempt Organizations: Potential Amendments to the Nonprofit Revitalization...
On June 16, 2016, the New York State Legislature adopted Senate Bill No. S07913B (the "Bill") modifying the Nonprofit Revitalization Act of 2013 (the "NPRA"). The following is a brief summary of the...
View ArticleNew Electronic Form 8976 to Alert IRS About Section 501(c)(4) Status; 1023-EZ...
The Protecting Americans from Tax Hikes (“PATH”) Act of 2015, enacted in December 2015, requires organizations to notify the IRS if they desire to operate under Section 501(c)(4) of the Internal...
View ArticleIllinois Appellate Court finds FOIA does not apply to the IHSA and School...
Recently, the Illinois Appellate Court (First District) issued its decision in Better Government Association v. Illinois High School Association and Consolidated High School District 230 affirming the...
View ArticleNew IRS notification process announced for 501(c)(4) nonprofits
Earlier this month, the US Internal Revenue Service (IRS) released its long-awaited temporary regulatory framework implementing the new statutory notification requirements placed on 501(c)(4) nonprofit...
View ArticleRelief in Sight for New York Nonprofits with Prospect of Additional...
On June 16, 2016, the New York Legislature passed A10365-B approving further changes to the Nonprofit Revitalization Act (the “Revitalization Act” or “Act”), including major changes to the rules on...
View ArticleChanges to Compensation Rules for Tax-Exempt Entities
?Special rules apply to compensation arrangements of tax-exempt entities. If the arrangement does not comply with the rules, then the amount of compensation subject to the arrangement is taxed to the...
View ArticleNew Proposed Regulations for Section 457(f) Nonqualified Deferred...
The Internal Revenue Service recently released long anticipated proposed regulations (the “Proposed Regulations”) governing deferred compensation arrangements maintained by tax-exempt organizations and...
View ArticleRemembering Four Years Ago, Will Tax Reform Come out of This Lame Duck...
No matter who wins the White House in November, the new president’s agenda will include tax reform. But changes to our tax laws need not wait until after inauguration day, as we learned four years ago...
View ArticleWhat Non-Profit and Governmental Employers Need to Know (Part 1)
There has been a lot of buzz recently about the long-awaited proposed rules issued by the Internal Revenue Service under Internal Revenue Code Section 457. Section 457 only applies to non-profit and...
View ArticleMerging Wisely: Best Practices for Structuring Successful Non-Profit Mergers
A merger in the non-profit world is no less complicated than the merger of a for-profit corporation. But the metrics of success are different. Values-based organizations structured around achieving a...
View ArticleEPA's Clean Energy Incentive Program
Expansion of Eligible Low Income Community Projects to Include Solar Projects - The Environmental Protection Agency's Clean Energy Incentive Program (CEIP) allows participants to earn tradeable...
View ArticleD.C. Circuit Court Gives Victory to Conservative Non-Profit Groups Targeted...
Last week, the U.S. Court of Appeals for the D.C. Circuit reversed two district court decisions that had dismissed the claims of dozens of conservative non-profit organizations (the "Plaintiffs") in...
View ArticleA New Landscape - Compliance clarifications and planning opportunities for...
On June 22, 2016, the Internal Revenue Service (IRS) published its long-awaited proposed regulations (the Proposed Regulations) under Section 457(f) of the Internal Revenue Code (the Code). Section...
View ArticleTaylor English victory in litigation against IRS
Our client, Linchpins of Liberty, is a non-profit organization that, along with roughly 37 other clients, applied for non-profit status under IRC Sections 501(c)(3) or 501(c)(4). Because of their...
View ArticleColleges and Universities Targeted in Class Action Lawsuits over Operation of...
Multiple class action lawsuits seeking millions of dollars in damages were filed last week against eight nonprofit universities challenging the administration of their 403(b) retirement plans. The...
View ArticleElection Year Updates for Section 501(c)(4) Social Welfare Organizations
The Protecting Americans from Tax Hikes Act of 2015, or the PATH Act, made several changes to tax law applicable to section 501(c)(4) organizations operating this election year. In addition, two...
View ArticleElection Year Reminders: Cautionary Guidance for Employers That Sponsor...
As we head into the final stretch of the presidential election cycle, employers — both for-profit and nonprofit — may wish to offer employee programs to encourage civic participation, including...
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