New York State Launches Forward Loan Fund Program – What Do I Need to Know?
As New York State moves forward with re-opening plans and as the federal government debates further COVID-19 relief packages, the state is launching its own COVID-19 economic relief fund. On Friday May...
View ArticleAvoiding Conflicts of Interest on the Board of Directors
For profit and non profit corporations are governed to benefit a corporation and its shareholders or, from the non profit perspective, its charitable purpose/members. Conflicts of interest present...
View ArticleCharitable Giving in the Time of COVID-19
March 20, 2020 – the day taxpayers were granted an automatic filing extension to July 15, 2020; the day the 2020 tax filing season changed dramatically. It was also a wonderful day that gave me a...
View ArticleTax Bill Advances in North Carolina General Assembly
House Bill 1080, containing the Revenue Laws Study Committee’s recommended tax changes, was introduced in the General Assembly on May 14, 2020. The bill has passed its first reading and is now in...
View ArticleNonstock Corporations Alert: Remote Membership Meetings Permitted
On March 21, 2020, Governor Lamont’s Executive Order 7I authorized Connecticut corporations to hold remote shareholder meetings to avoid the risks of gathering shareholders in person during the...
View ArticleTreasury, IRS issue final regulations providing relief for certain tax-exempt...
The Department of the Treasury and the Internal Revenue Service today issued final regulations clarifying the reporting requirements generally applicable to tax-exempt organizations. The final...
View ArticleNew IRS Rule Allows Many Nonprofits to Withhold Donor Information From the IRS
On May 26, 2020, the U.S. Treasury released Final Regulations on donor disclosure requirements that shield many nonprofits – except 501(c)(3) charities and 527 political organizations – from the...
View ArticleNew York State COVID-19 and Legislative Update – May 2020
This week marked seventy days since the inception of New York on PAUSE (Policies to Assure Uniform Safety for Everyone). As COVID-19 emergency response efforts continue to strategically transition into...
View Article[Webinar] Hot Topics Facing Nonprofit Organizations and Their Advisors in...
Please join Cynthia Rowland and Matt Lewis for a discussion of current issues nonprofit organizations and their advisors are facing this year. Cynthia and Matt will cover: - About that nest egg—when...
View ArticleCompliance Notes – Vol. 1, Issue 6
Welcome to Volume 1, Issue 6 of Compliance Notes from Nossaman’s Government Relations & Regulation Group – a periodic digest of the headlines, statutory and regulatory changes, and court cases...
View ArticleNew Business and Nonprofit Resources for Lancaster County Recovery
New resources will soon be available for businesses and nonprofits in Lancaster County to help cope with COVID-19 safety and financial recovery. Lancaster County, in cooperation with the Lancaster...
View ArticleThe ‘New Normal’ for Nonprofits: Tips on Workplace Reentry and Reimagining...
Many nonprofits will soon face the prospect of re-opening their workplaces while the spread of COVID-19 remains a concern. To do so safely and effectively, nonprofits must consider how they will...
View ArticleFlexibility Act Guidance and Modified PPP Applications to Retain Partial...
Significantly, the statement confirms that partial forgiveness will remain available even if a borrower does not spend at least 60% of its forgiveness amount on payroll costs....By: Downs Rachlin...
View ArticlePaycheck Protection Program Legal Update for Tax-Exempt Organizations
On April 24, 2020, President Trump signed the Paycheck Protection Program and Healthcare Enhancement Act (PPP Enhancement Act), adding an additional $310 billion to the previously exhausted $349...
View ArticleIRS Issues Final Regulations on Nonprofit Donor Disclosure Requirements
On May 26, the Internal Revenue Service (“IRS”) and the U.S. Department of the Treasury issued final regulations (the “Final Regulations”) relaxing nonprofit donor disclosure requirements under section...
View ArticleHeavy Is the Head That Wears the Crown: Board of Director Authority in a...
The Board of Directors for a Community Association functions in a very similar capacity as the Board of a standard corporation. Approximately 95% of all decisions to be made on behalf of a Community...
View ArticleIRS Issues Proposed Regulations for Tax on Nonprofit Executive Compensation
The Internal Revenue Service has issued proposed regulations describing the rules regarding the 21 percent excise tax on compensation over $1 million and excess parachute payments paid by tax-exempt...
View ArticleThe FCC Funds the COVID-19 Telehealth Program
The Federal Communications Commission (“FCC”) established the COVID-19 Telehealth Program (the “Telehealth Program”) on April 2, 2020 in response to the COVID-19 pandemic. The Telehealth Program...
View ArticleExecutive Compensation at Tax-Exempt Organizations Back in the Limelight –...
Seyfarth Synopsis: The IRS recently issued proposed regulations providing guidance under Internal Revenue Code (“Code”) Section 4960, which provides for an excise tax on tax-exempt organizations that...
View ArticleCompliance Notes – Vol. 1, Issue 7
Welcome to Volume 1, Issue 7 of Compliance Notes from Nossaman’s Government Relations & Regulation Group – a periodic digest of the headlines, statutory and regulatory changes, and court cases...
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