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OIG Rescinds Advisory Opinion

The Department of Health and Human Services Office of Inspector General (the OIG), on November 28, 2017, issued a Rescission Letter terminating Advisory Opinion Number 06-04 (Advisory Opinion 06-04)....

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House and Senate Bills Contain Tax Increases for Tax-Exempt Organizations

To offset proposed business tax cuts, the Senate and House tax reform bills seek to raise revenue from tax-exempt organizations. The House passed its version of the Tax Cuts and Jobs Act on November...

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Tax-Exempt Healthcare Organizations Brace for Impact as Senate Tax Reform...

Update. We described in a previous blog post major changes that tax-exempt hospitals and other tax-exempt organizations in the healthcare industry face in the tax reform proposals working their way...

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IRS Notice Provides Guidance on Use of Donor Advised Funds for Pledges and...

On December 4, 2017, the IRS released a notice that describes proposed guidance the IRS and Treasury are considering with respect to donor advised funds (DAFs). The comprehensive rules governing DAFs...

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IRS and Treasury Department Release Notice Regarding Donor Advised Funds

In addition to sponsoring organizations of donor advised funds, the Notice may also impact donors and other tax-exempt organizations, including both private foundations and public charities; affected...

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Calling Toll-Free: Special Rules for Nonprofits Offer Safe Harbor from TCPA...

A company making calls to residential telephone numbers was not liable for alleged violations of the Telephone Consumer Protection Act (TCPA) where the calls were made on behalf of a nonprofit,...

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IRS Issues Request for Comments Regarding the Regulation of Donor Advised Funds

The Internal Revenue Service (the “IRS”) has issued Notice 2017-73 (the “Notice”) which outlines approaches the Department of the Treasury (“Treasury”) and the IRS are considering with respect to the...

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More Scrutiny of Donor Advised Funds

Notice 2017-73, released on December 4, 2017, describes potential approaches that may be taken to address issues raised regarding the use of donor advised funds (“DAF”). The Treasury and IRS are...

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Updates for Tax-Exempt Organizations from the Senate Bill

Early on December 2, 2017, the Senate passed the Tax Cuts and Jobs Act (the “Senate Bill”). This blog entry describes certain provisions of the Senate Bill that would have the most significant impact...

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Tax Reform: Nonprofits and their Executives Brace for Impact

The Senate voted yesterday to begin formal negotiations with the House of Representatives to reconcile their two versions of the Tax Cuts and Jobs Act, a bill that seeks to make sweeping changes to...

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Donor Advised Funds May Face New IRS Rules

On December 4, 2017, the Treasury Department and Internal Revenue Service (IRS) issued Notice 2017-73, new proposed guidance for donor advised funds (DAFs). The public has the opportunity to comment on...

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Six Ways Tax Reform Could Change Healthcare

Providers, including charitable hospitals, nonprofit organizations, and academic medical centers, should watch for possible policy changes in the tax reform bill reconciliation process. Within a span...

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Nonprofit Fundraiser Escapes TCPA Case

An Illinois federal judge has ruled that a fundraising company working for a nonprofit, tax exempt organization did not violate the Telephone Consumer Protection Act (TCPA) when it called a number...

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Injunction Against Berkshire Museum Sale Is Extended

The Single Justice of the Massachusetts Appeals Court (Joseph A. Trainor) has extended the injunction against the Berkshire Museum's proposed sale of 40 works of art in its collection until at least...

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New California Laws for Nonprofit Health Care: What Facilities Need to Know

Nonprofit health care facilities should evaluate what upcoming California law changes mean for their businesses. The new laws, which impact required notices and approvals from the state Attorney...

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2017 Charitable Gifts

If the pending tax bills are reconciled by Congress and enacted into law, there is likely to be a substantial reduction in the number of individuals that will itemize their deductions. For many...

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Senate Passes Tax Reform Bill

On November 16, the House of Representatives passed an amended version of H.R. 1, the “Tax Cuts and Jobs Act,” by a vote of 227-205 (the “House Bill”). On November 20, 2017, the Senate Finance...

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The Effect of Tax Reform on Michigan Charter Schools

Many recent press reports have warned of the negative affect tax reform could have on charter schools around the country. These reports focus on the proposed elimination of private activity bonds...

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Wealth Management Update - December 2017

December Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The December § 7520 rate for use with estate planning techniques such as...

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Compromise Tax Reform Bill

After the House and Senate passed different versions of a comprehensive tax reform bill, a conference committee convened and released on Friday a compromise version of comprehensive tax reform, the...

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