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BakerHostetler

Monetizing Renewable Energy Credits - Final Regulations on Direct Pay

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As covered in our prior alerts, the Inflation Reduction Act modified and reinstated existing renewable energy credits, enacted new renewable energy credits, and enacted under § 6417 an election that allows applicable entities...more

McDermott Will & Emery

Weekly IRS Roundup March 4 – March 8, 2024

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Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of March 4, 2024 – March 8, 2024. ...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Solar Projects? It's Time for Governmental and Tax-Exempt Entities to File for Applicable Tax Credits

As provided for in the 2022 Inflation Reduction Act (or IRA), entities not subject to taxation such as cities, counties, municipal utilities, school districts and 501(c)(3) organizations (or tax-exempt entities) can now take...more

McDermott Will & Emery

Weekly IRS Roundup January 15 – January 19, 2024

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Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of January 15, 2024 – January 19, 2024. ...more

McDermott Will & Emery

Weekly IRS Roundup August 14 – August 18, 2023

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Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of August 14, 2023 – August 18, 2023...more

McDermott Will & Emery

Weekly IRS Roundup September 12 – September 16, 2022

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Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of September 12, 2022 – September 16, 2022...more

McDermott Will & Emery

Special IRS Team Working to Identify Emerging “Abusive Transactions”

Earlier this year, the Internal Revenue Service (IRS) announced the creation of a new Joint Strategic Emerging Issues Team (JSEIT). The new initiative, announced at the New York University School of Professional Studies Tax...more

ArentFox Schiff

IRS Loosens, and Tightens, Disclosure of Nonprofit Taxpayer Information

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On August 16, 2022, the Internal Revenue Service issued a final regulation on its ability to provide state governments with information regarding organizations seeking to become exempt and those already exempt from federal...more

Opportune LLP

New Mexico Non-Resident Pass-Through Withholding & Composite Return Election

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New Mexico recently enacted legislation qualifying pass-through entities to make an annual election to pay an entity-level state tax for taxable years beginning on or after January 1, 2022. Here’s what it means for your oil...more

McDermott Will & Emery

Weekly IRS Roundup May 23 – May 27, 2022

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of May 23, 2022 – May 27, 2022... May 25, 2022: The IRS issued a press release revising frequently...more

BCLP

Reminder to Tax-Exempt Organizations: May 16 Filing Deadline; Tax-Exempt Organization Complaint Process

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The Internal Revenue Service reminds tax-exempt organizations that many have a filing deadline of May 16, 2022. Those that operate on a calendar-year (CY) basis have certain annual information and tax returns they file with...more

Bricker Graydon LLP

Form 990 Deadline Reminder for Exempt Organizations

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The 2021 Form 990 due date is fast approaching for tax-exempt organizations who are calendar year filers. This year, May 15 falls on a Sunday, giving exempt organizations until May 16 to either get the proper version of Form...more

Rivkin Radler LLP

[Webinar] Lunch & Learn Series: A Refresher on Form 990: Tips and Traps for Tax-Exempt Organizations - April 14th, 12:00 pm - 1:00...

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Please join us as Louis Vlahos and Bernadette Kasnicki provide a refresher on preparing Form 990, the tax return for tax-exempt organizations. We will review…...more

Miller Nash LLP

An Athlete's Guide to Philanthropy, Nonprofit Organizations, and Community Impact: Process and Pitfalls of Forming Nonprofit...

Miller Nash LLP on

As discussed in prior articles, there are several options for tax-incentivized giving, ranging from the informal and low-involvement to complex and highly involved structures. Many choose to adopt a more formal approach to...more

McDermott Will & Emery

Weekly IRS Roundup September 27 – October 1, 2021

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Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of September 27, 2021 – October 1, 2021... September 28, 2021: The IRS released a revenue...more

Freeman Law

The Tax Court in Brief - August 2021

Freeman Law on

The Week of July 26 – July 31, 2021 - Harrington v. Comm’r, T.C. Memo. 2021-95 | July 26, 2021 | Lauber, J. | Dkt. No. 13531-18 - Short Summary: Mr. Harrington is a U.S. citizen; his wife is a dual citizen of the...more

BCLP

EO Update: e-News for Charities & Nonprofits - July 2021

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Electronic Filing Mandate for Form 990-EZ - The Taxpayer First Act, enacted July 1, 2019, requires tax-exempt organizations to electronically file information returns and related forms. The requirement to file...more

BCLP

EO Update: e-News for Charities & Nonprofits - June 2021

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Update on Mandatory Electronic Filing for Form 4720 by Private Foundations - Section 3101 of the Taxpayer First Act requires certain exempt organizations to file information and tax returns electronically for tax years...more

Partridge Snow & Hahn LLP

The Internal Revenue Service reminds tax-exempt organizations that certain forms they file with the IRS are due on July 15, 2020

For organizations that operate on a calendar-year basis, this includes the 2019 Form 990 they would have normally filed on May 15. The upcoming July 15 deadline applies to many forms that were originally due May 15,...more

McDermott Will & Emery

Weekly IRS Roundup December 30, 2019 – January 3, 2020

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of December 30, 2019 – January 3, 2020. December 30, 2019: The IRS issued a news release announcing...more

Saul Ewing LLP

Mayo Clinic Convinces Federal District Court (Minn.) That It Is an “Educational Organization” Entitled to Treat Its Debt-Financed...

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The Mayo Clinic is granted a tax refund of $11.5 million, claiming that the income, even though unrelated to its exempt purposes and debt-financed, is nevertheless exempt from tax since the Mayo Clinic qualifies as an...more

Holland & Knight LLP

E-Filing Now Mandatory for All Exempt Organizations

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• The Taxpayer First Act, which was signed into law by President Donald Trump on July 1, 2019, changed the requirements for tax-exempt organizations to require electronic filing of all returns in the Form 990 series and Form...more

BCLP

Three Tips to Help You File a More Complete Form 990-Series Return

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A tax-exempt organization using the calendar-year as its tax year must file a Form 990-series return by May 15th, unless it has filed Form 8868, Application for Automatic Extension of Time To File an Exempt Organization...more

Farella Braun + Martel LLP

Tax-Exempt Does Not Mean Exempt From Filing Tax Returns

May 15 was the filing deadline for nonprofits operating on a calendar year that are required to file Form 990-series information returns. Many nonprofits mistakenly believe that they are not required to file returns with the...more

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