Tax-Exempt Organizations
This item discusses the IRS position allowing the unrelated activities to be substantial so long as they are not the organization’s “primary purpose,” while also acknowledging the confusion and uncertainty on this point.
To help exempt organizations “silo,” or separately compute, their unrelated business or trade income, three experts who will be giving a presentation on the topic at the upcoming Not-for-Profit Industry Conference offer their thoughts.
The IRS issued final regulations on the excise tax on excess remuneration over $1 million paid by tax-exempt organizations, finalizing proposed regulations with a few changes in response to comments.
IRS regulations discuss how an exempt organization calculates unrelated business taxable income if it has more than one unrelated trade or business.
The IRS issued final regulations on the excise tax on excess remuneration over $1 million paid by tax-exempt organizations, finalizing proposed regulations with a few changes in response to comments.
Tax-exempt Sec. 501(c)(3) charities, public schools, and certain other entities can generally adopt either Sec. 403(b) or Sec. 401(k) retirement plans. While the rules applying to these plans are often substantially the same, there are many significant differences.
The president and a director of a not-for-profit is not its beneficial owner and cannot be a shareholder of it.
The IRS has posted final regulations governing how tax-exempt organizations determine if they have more than one unrelated trade or business for purposes of unrelated business income tax.
The article discusses the June 2020 proposed regulations and how they compare to the prior guidance in Notice 2018-99.
The IRS issued proposed regulations implementing changes to Sec. 274 that disallow a deduction for the expense of any Sec. 132(f) qualified transportation fringe provided to an employee, effective for amounts paid or incurred after Dec. 31, 2017.
The IRS finalized regulations permitting tax-exempt organizations other than Sec. 501(c)(3) orgs. to omit the names of substantial donors when filing Forms 990.
The IRS issued proposed regulations on how to identify separate trades or businesses to determine a tax-exempt organization’s unrelated business taxable income under new rules that require different trades or businesses to be reported separately or siloed.
The IRS issued proposed regulations implementing changes to Sec. 274 that disallow a deduction for the expense of any Sec. 132(f) qualified transportation fringe provided to an employee, effective for amounts paid or incurred after Dec. 31, 2017.
The IRS finalized regulations permitting tax-exempt organizations other than Sec. 501(c)(3) orgs. to omit the names of substantial donors when filing Forms 990, Return of Organization Exempt From Income Tax.
The IRS issued proposed regulations on how to identify separate trades or businesses to determine a tax-exempt organization’s unrelated business taxable income under new rules that require different trades or businesses to be reported separately or siloed.
The IRS announced that Form 1023, Application for Recognition of Exemption Under Section 501(c)(3), must now be submitted electronically.
The IRS announced that Form 1023, Application for Recognition of Exemption Under Section 501(c)(3), must now be submitted electronically.
The proposed regulations are intended to more accurately and comprehensively reflect current reporting requirements applicable to exempt organizations.
The IRS posted informal guidance on its website to explain how trusts that file Form 990-T and have unrelated business income can claim the deduction.
A district court invalidates the IRS’s donor reporting rule changes.
