If the IRS challenges the tax-exempt status of a name, image, and likeness (NIL) collective, the collective must understand how best to respond. Our Federal Tax Group details what NIL collectives need to know to make the cut....more
Our Federal Tax and Exempt Organizations teams tackle the implications of the IRS chief counsel’s conclusion that nonprofit organizations created to pool donations and develop paid name, image, and likeness (NIL)...more
The Inflation Reduction Act Strategic Operating Plan, released last week by the Internal Revenue Service, envisions a future of increased audits and penalties for family offices, high-wealth individuals, large partnerships,...more