Many employers who filed employee retention tax credit (ERTC) refund claims have been waiting months or even years to receive refund checks. The IRS stopped processing refund claims in mid‑July of 2023 and publicly announced...more
In a recent memorandum issued by the Office of Chief Counsel, the Internal Revenue Service (IRS) concluded that many "NIL Collectives" may not qualify as tax-exempt under Section 501(c)(3) of the Internal Revenue Code of...more
6/27/2023
/ 501(c)(3) ,
Colleges ,
Fundraisers ,
Internal Revenue Code (IRC) ,
IRS ,
Name and Likeness ,
NCAA ,
Policy Memorandums ,
Student Athletes ,
Tax Exempt Entities ,
Universities
As part of an ongoing effort to modernize its operations and reduce administrative burdens, the Internal Revenue Service (IRS) has revised and updated the Form 8940 for tax-exempt organizations, charities, and nonexempt...more
Facilities owned by nonprofits and government entities are frequently financed with tax-exempt bonds and managed by for-profit management companies. To avoid tainting the tax-exempt status of the interest payable on...more
10/24/2022
/ Compensation Agreements ,
For-Profit Corporations ,
Hotel Management Agreements ,
Hotels ,
Incentive Compensation ,
IRS ,
Management Fees ,
Project Finance ,
REIT ,
Revenue Procedures ,
Safe Harbors ,
Tax Exempt Entities ,
Tax-Exempt Bonds