Bruce R. Hopkins' Nonprofit Counsel

Publisher:
Wiley
Publication date:
2021-02-01
ISBN:
1542-8419

Latest documents

  • Selected Provisions of Coronavirus and FY 2021 Appropriations Legislation

    The Consolidated Appropriations Act, 2021, was signed into law on December 27 (Pub. L. No. 116‐260). This massive piece of legislation includes provisions comprising the Taxpayer Certainty and Disaster Relief Act of 2020 (Division EE of the appropriations act) and Additional Coronavirus Response and Relief (Division N of the appropriations act).

  • Other Development
  • Supreme Court Agrees to Hear Fundraising/Free Speech Cases
  • Final Excess Compensation Regs Issued

    The Department of the Treasury and the IRS, on January 11, published final regulations in amplification of the law (IRC § 4960) imposing an excise tax on most types of tax‐exempt organizations in connection with payment of remuneration of employees in excess of $1 million and excess parachute payments by these organizations (T.D. 9938). The Federal Register publication date for these regulations is January 19.

  • Charitable Deductions Lost, on Appeal, Due to Partial Interest Gift and Faulty Appraisals
  • Other Recent IRS Private Letter Rulings
  • IRS Issues Procedural Rules for 2021

    The IRS, on January 4, issued its annual compilation of the procedural rules in the tax‐exempt organizations and larger law contexts for 2021, including the following.

  • Taxpayer First Act Report Delivered

    The IRS, on January 11, sent the Taxpayer First Act Report to Congress (Pub. 5426). The agency bills this report as a “comprehensive set of recommendations that will reimagine the taxpayer experience, enhance employee training and restructure the organization to increase collaboration and innovation” (IR‐2021‐07). The Taxpayer First Act is summarized in the September 2019 issue.

  • IRS Applies Public Policy Doctrine—Twice

    The IRS recently concluded that two organizations are engaging in activities that are illegal under federal law and thus are acting contrary to public policy, thereby precluding eligibility for tax‐exempt status as charitable entities.

  • TIGTA Evaluates EO Examination Case Consolidation Efforts

    As discussed in the December 2020 issue, the 2021 Annual Audit Plan of the Office of the Treasury Inspector General for Tax Administration includes a determination of the effectiveness of the TE/GE Division's implementation of the Compliance Planning and Classification unit, designed to consolidate examination identification, planning, assignment, and monitoring. TIGTA's report on the point was issued on December 23.

Featured documents

  • Final Bucketing Rule Regulations Issued

    The Department of the Treasury and the IRS, on November 19, made public final regulations concerning the bucketing rule, used in computing tax‐exempt organizations' unrelated business taxable income (IRC § 512(a)(6)) (T.D. 9933). The proposed regulations are summarized in the July 2020 issue....

  • Grant Ruled Qualifying Distribution; Transfers by Grantee Ruled Indirect Self‐Dealing

    The IRS ruled that a private foundation grant will be a pass‐through (out‐of‐corpus) qualifying distribution, then ruled (incorrectly) that subsequent transfers by the grantee will constitute indirect acts of self‐dealing on the grounds that they will (ostensibly) be made to a disqualified person (P...

  • Bucketing Rule Proposed Regs Issued

    April 23 brought the long‐awaited proposed regulations from the Treasury Department and the IRS concerning the bucketing rule, used in computing tax‐exempt organizations' unrelated business taxable income (IRC § 512(a)(6)) (REG‐106864‐18)....

  • GAO Thoroughly Analyzes, Critiques IRS Examination‐Selection Processes

    The Government Accountability Office, in a report made public on June 16, provides an extensive analysis of the processes the IRS employs in selecting tax‐exempt organizations for examination (GAO‐20‐454). As explained in Tax Exempt & Government Entities Division letters in recent years, the IRS...

  • Syndicated Conservation Easement Gifts Identified as Listed Transactions

    The Department of the Treasury and the IRS formally announced, on December 23, their awareness that promoters are syndicating conservation easement transactions purporting to give investors the opportunity to obtain charitable contribution deductions in amounts that significantly exceed the amount...

  • Table of Contents

    Retirement Plan Promoter Loses on Exempt Business League Claim Museum's Gift Shop Sales Ruled Related Business Online Sorority Denied Recognition of Exemption Mobile Giving Promoter Denied Recognition of Exemption as Charity Social Club's Exemption Ruled Unaffected by Spinoff of Sporting Events Othe...

  • Charitable Deductions Lost Due to Partial Interest Gift, Faulty Appraisals

    The US District Court for the District of Maryland, by decision dated January 31, held that a charitable contribution of an interest in real property was not deductible because it was in the form of a nondeductible partial interest, and that that contribution and one of personal property was not...

  • Table of Contents

    Treasury/IRS to Repropose Political Activity Regulations Social Media Comments Help Torpedo Recognition of Exemption Government Hay‐Cutting Causes Property to Be Exempt Function Asset IRS Issues Another Mistaken PLR on Board Governance Other Recent IRS Private Letter Rulings Conservation Easement...

  • Table of Contents

    IRS Releases Final Version of Streamlined Application for Recognition of Tax Exemption Contraceptive Mandate Opinion Offers Extensive Supreme Court Look at Nonprofit, For‐Profit Corporate Forms Supreme Court Again Enjoins Administration on Contraceptive Mandate Enforcement Hospital's Lab Testing...

  • Proposed Excess Compensation Regs Issued

    The Department of the Treasury and the IRS, on June 5, published proposed regulations in amplification of the law (IRC § 4960) imposing an excise tax on most types of tax‐exempt organizations in connection with payment of remuneration of employees in excess of $1 million and excess parachute...

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