UK charities seeking opinions on their equivalency to US tax-exempt charities
On 2 October 2017, the IRS provided guidance to US tax advisers for issuing opinions to the effect that a non-US charity is equivalent to an analogous tax-exempt US charity (Rev. Proc. 2017-53, 2017-40...
View ArticleTax Act: Taxation of Fringe Benefits After Tax Reform
The Tax Act makes changes to the tax treatment of fringe benefits that impact both employers and employees. Employers are now denied certain deductions to which they were previously entitled, including...
View ArticleTax Act: New Laws Affecting Tax-Exempt Organizations
The Tax Act contains a number of provisions that significantly affect tax-exempt organizations, in some cases to degrees not seen in decades. In addition, several provisions may indirectly affect...
View ArticleTax Cuts and Jobs Act Summary
On December 22, 2017, President Trump signed sweeping tax reform legislation (H.R. 1) into law. The new law, commonly known as the Tax Cuts and Jobs Act (the “Tax Act”), makes significant changes to...
View ArticleKey Tax Reform Issues for Nonprofit Membership Organizations/Associations
Associations avoided the harshest proposals but should be aware of several important new tax issues. Associations subject to unrelated business income tax can no longer use losses in one unrelated...
View ArticleTax Cuts and Jobs Act: Impact on Tax-Exempt Organizations
On December 22, 2017, President Donald Trump signed into law the Tax Cuts and Jobs Act (the Act), which imposes a new excise tax on certain tax-exempt organizations for compensation paid to their...
View ArticleSweeping Tax Reform Impacts Tax-Exempt Organizations
After a short period of deliberations by the House of Representatives (the “House”) and the Senate, President Trump signed the final version of H.R. 1 into Public Law No. 115-97 on December 22, 2017...
View ArticleHelping Non-Profits Navigate Tax and Labor Issues
Amanda Nussbaum, a partner in the Tax Department and a member of the Not-for-Profit Group at Proskauer, chairs a comprehensive seminar each fall for non-profits to discuss current developments and...
View ArticleForm 1023-EZ Revisions
The IRS revised Form 1023-EZ, Streamlined Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code, and its instructions to help small charities apply for 501(c)(3)...
View ArticleConsiderations for Tax-Exempt Organizations under the New Tax Cuts and Jobs Act
The recent Tax Cuts and Jobs Act (“TCJA”) is the largest tax code rewrite in several decades and includes significant changes for the nonprofit sector. Three major changes that raise complex issues for...
View ArticleThe Good, the Bad, and the Tax-Exempt Organization: The New Tax Bill’s Effect...
On December 22, President Trump signed “An Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018” (“Bill”) into law. The Bill was...
View ArticleTax Reform: Compensation and Benefits
The new federal tax reform, signed into law by President Trump on December 22, 2017, will change tax liabilities and strategies for many organizations and individuals beginning this year. The following...
View ArticleNew York Executive Budget Proposes Corporate Ownership of Retail Clinics, Tax...
Last week, Governor Andrew Cuomo unveiled his proposed $168 billion budget for fiscal year 2019, which proposes several changes to New York’s healthcare landscape. Among other things, the budget...
View ArticleFederal Tax Reform — Key Provisions for Tax Exempt Organizations
On December 22, 2017, President Trump signed into law the Tax Cuts and Jobs Act (H.R. 1), or the "Act," a comprehensive tax reform package representing an overhaul of federal taxation arguably ona...
View ArticleTax Reform: Provisions Directly Affecting Tax-Exempt Organizations
he Tax Cuts and Jobs Act was signed into law on December 22, 2017. This tax reform law includes the following changes directly affecting nonprofit and tax-exempt organizations, and those who donate to...
View ArticleHow to Have a Special Meeting
It’s Friday night and your executive director calls you and quits. Life happens, right? But what now? How do you have a special meeting – a meeting between normally scheduled meetings – to triage?...
View ArticleEmbarking on a Career With a Tradition of Public Service
Tradition is a funny thing. It can be tempting to dismiss it as something static and fixed, when in fact, it is a dynamic and ever-evolving creature. It is a tradition’s inheritors who determine what...
View ArticleA Parsing of the Newly-Minted Uniform Directed Trust Act
Charles E. Rounds, Jr., “The Uniform Directed Trust Act: Context, content and critique," Trusts & Estates (December 2017), at p. 24 [Vol. 156 No. 12)] is now accessible on JD SUPRA below....By:...
View ArticleAuthority Over Charitable Gaming in Connecticut Shifts to Municipalities
Effective January 1, 2018, the authority to monitor and regulate charitable gaming in Connecticut has shifted from the Department of Consumer Protection (the “DCP”) to municipalities and towns....
View ArticleRedial: 2017 TCPA Year-in-Review - Analysis of critical issues and trends in...
The Eversheds Sutherland TCPA team has published its fourth annual REDIAL: 2017 TCPA YEAR-IN-REVIEW – ANALYSIS OF CRITICAL ISSUES AND TRENDS IN TCPA COMPLIANCE AND LITIGATION. This publication reflects...
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