Federal tax law prohibits nonprofit organizations from providing private inurement and unwarranted private benefit. Failure to comply with these basic rules jeopardizes an organization’s tax-exempt status. Layered on top of...more
As charitable organizations continue to navigate fundraising strategies during a pandemic, lawmakers consider proposals that, if enacted, would have a significant impact on charitable giving.
Earlier this summer, the...more
Bequests and other deferred gifts are a bedrock of any successful planned giving program. The deferred nature of these types of gifts, however, can lead to complications and delays in collecting the gift....more
Charitable organizations, like many for-profit businesses, are facing significant hardships due to the COVID-19 pandemic. Recognizing that individuals and businesses want to support charities in these times of need, lawmakers...more
With tax filing season in full swing, tax-exempt organizations are beginning to determine how much excise tax they may owe on compensation and severance amounts paid to their most highly compensated employees after 2017. The...more
As donors and their advisors rush to close year-end charitable gifts, it is easy to overlook the very precise requirements for income tax deductibility. Donors who fail to follow these rules may find their entire deductions...more
Charities and other exempt organizations face higher taxes, more complex returns and tough investment decisions under new unrelated business income tax rules effective for 2018. Despite recent guidance from the Internal...more