A federal appeals court ordered the IRS to comply with a lower court’s order that it hand over the names of organizations that had been on its “Be on the lookout” list when it was mishandling applications for tax-exempt status.
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Formation & Governance
Notice Postpones Sec. 501(c)(4) Social Welfare Organization Requirements
A new notice requirement recently enacted by Congress in the wake of the scandal regarding the IRS’s handling of Sec. 501(c)(4) applications will not be implemented immediately, the IRS announced.
Charities Must Operate Exclusively for Charitable Purposes
The U.S. Tax Court recently issued an opinion focusing on the requirements for an organization to qualify for a tax exemption under Sec. 501(c)(3).
Regulations Loosen Rules for Private Foundations Making Grants to Foreign Grantees
The types of tax professionals private foundations can rely on when making a good-faith determination that a foreign grantee is a public charity were expanded.
Guidance for Tax-Exempt Hospitals to Report List of Providers Covered by FAP
An IRS notice provides guidance on how tax-exempt hospitals may satisfy the requirement to report providers who provide medically necessary care covered by the financial assistance policy.
Private Foundations Can Rely on More Practitioners When Making Good-Faith Determinations
The IRS has expanded the list of tax professionals who can be relied on when making a good-faith determination of a foreign grantee’s eligibility.
A Cautionary Case for Tax-Exempt Hospitals
A recent property tax case from the Tax Court of New Jersey should serve as a warning to tax-exempt medical centers and their tax advisers throughout the country.
IRS Has Fixed Many of Its Problems With Social Welfare Organization Applications
Two years after finding the IRS used inappropriate criteria when reviewing applications for tax–exempt status under Sec. 501(c)(4) and delayed processing some applications—a report that led to congressional investigations and the resignation of IRS Exempt Organizations Director Lois Lerner—TIGTA issued a follow–up report to check on the IRS’s progress in eliminating the controversial practices.
Tax Planning for Private Foundations
Private nonoperating foundations should employ tax planning techniques to lower the entity’s excise tax rate from 2% to 1%. The potential tax savings that would result from proper tax planning would be better used to further the foundation’s exempt purpose.
Only Smallest Charitable Trusts Benefit From Streamlined Application
The IRS issued a streamlined application for recognition of tax-exempt status; however, an organization cannot use Form 1023-EZ if its assets exceed $250,000 or its annual gross receipts are more than $50,000.
Tax-Exempt Application Process Streamlined for Small Organizations
The IRS introduced a streamlined application process for small organizations that want tax-exempt status.
Streamlined Tax-Exempt Application Process Introduced
The IRS introduced a streamlined application process for small organizations that want tax-exempt status under Sec. 501(c)(3).
Coordinating Charitable Trusts and Private Foundations for the Business Owner: Complying With UBIT and Self-Dealing Rules
This item details some charitable giving options for owners of closely held businesses, the applicable unrelated business income and self-dealing rules, and best practices for taxpayers who have these charitable desires and restrictions.
IRS Unveils New Procedures for Reinstating Tax-Exempt Status
Organizations have new procedures for getting their exempt status reinstated.
New Procedures for Reinstatement of Tax-Exempt Status Are Introduced
Tax-exempt organizations that have had their tax-exempt status automatically revoked because they failed to file required annual returns for three consecutive years have new procedures for getting their exempt status reinstated.
A Closer Look at the IRS’s Targeting of Tea Party and Other Groups for Review
In a report issued on May 14, TIGTA found that the IRS used inappropriate criteria to single out for review certain applications for tax-exempt status.
Interim IRS Chief Issues Initial Report on Sec. 501(c)(4) Controversy
Acting IRS commissioner Daniel Werfel issued a report on the plans to reform the IRS to avoid inappropriate targeting of taxpayers applying for Sec. 501(c)(4) social welfare organization status.
IRS Controversy Could Cause Tax-Exempt Processing Slowdown
Prepare for a slowdown in work handled by the IRS Exempt Organizations Division in the wake of the recent controversy involving the processing of certain applications for tax exemption, says the division’s former head.
Prop. Regs. Expand Options for Private Foundations in Grant-Making Process
The IRS proposed expanding the types of tax professionals on which private foundations may rely when making good-faith determinations as to the public charity status of foreign grantees.
Creating a Private Foundation to Meet Charitable Goals
This column assesses the advantages and disadvantages of using a private foundation to meet charitable goals.
employee benefits & pensions
Profits interests: The most tax-efficient equity grant to employees
By granting them a profits interest, entities taxed as partnerships can reward employees with equity. Mistakes, however, could cause challenges from taxing authorities.
