LawFlash/Client Alert | Tax-Exempt Organizations LawFlash
Tax-Exempt Organizations Practice
On August 19, the Internal Revenue Service (IRS) released final instructions to the redesigned Form 990, the information return filed by public charities and other tax-exempt organizations. The final instructio... more
LawFlash/Client Alert | Tax-Exempt Organizations LawFlash
Tax-Exempt Organizations
On April 7, the Internal Revenue Service (IRS) released draft instructions to the redesigned Form 990, the information return filed by public charities and other tax-exempt organizations. The redesigned Form 99... more
LawFlash/Client Alert | Tax-Exempt Organizations LawFlash
Tax-Exempt Organizations
On December 20, the IRS released a revised version of the Form 990, the information return filed by public charities and other tax-exempt organizations, which will be required for the 2008 tax year (returns fil... more
LawFlash/Client Alert | Tax-Exempt Organizations LawFlash
Tax-Exempt Organizations
The Panel on the Nonprofit Sector (the Panel) recently released Principles for Good Governance and Ethical Practice: A Guide for Charities and Foundations (the Guide ), the culmination of a process to i... more
LawFlash/Client Alert | Tax-Exempt Organizations LawFlash
Tax-Exempt Organizations
Nonprofit organizations that engage in international activities need to understand the role of the U.S. Department of Treasury’s Office of Foreign Assets Control (OFAC) in administering and enforcing U.S. embargoes that... more
LawFlash/Client Alert | Tax-Exempt Organizations LawFlash
Tax-Exempt Organizations
Congressional interest in the tax-exempt sector remains strong. On July 24, Sen. Charles Grassley, Ranking Member, Committee on Finance, released a 28-page letter from the Internal Revenue Service (IRS) identif... more
LawFlash/Client Alert | Tax-Exempt Organizations LawFlash
Tax-Exempt Organizations
On June 14, the IRS released a substantially revised draft Form 990, Return for Exempt Organizations, which will likely be the basis for the Form 990 used by organizations beginning with the 2008 tax year (that is, for ... more
LawFlash/Client Alert | Litigation LawFlash
Litigation
The U.S. Court of Appeals for the Second Circuit in New York held on May 23, 2007 that District Judge Lewis Kaplan lacked jurisdiction to open a separate civil proceeding to resolve an attorney fee dispute between KPMG LLP and former partners and employees charged with the sale of allegedly improper tax shelters.
LawFlash/Client Alert | Tax-Exempt Organizations LawFlash
Tax-Exempt Organizations
On May 9, the IRS issued Notice 2007-45, which provides interim guidance on the new Form 990-T public disclosure requirement enacted as part of the Pension Protection Act of 2006 (PPA). Pursuant to the PPA, For... more
LawFlash/Client Alert | Tax-Exempt Organizations LawFlash
Tax-Exempt Organizations
On April 26, 2007, the IRS released supplemental guidance on several issues with respect to the 2006 Form 990. The new guidance, which is presented in a Q&A format, is posted on the IRS website and addresse... more
LawFlash/Client Alert | Tax LawFlash
Tax
Officials from the Internal Revenue Service (IRS) have disclosed that the IRS is expanding the scope of its withholding and reporting agent compliance initiative beyond the financial services industry and will soon target nu... more
Outside Publications | Article
Karen Butcher,
William Colgin, Jr.
Outside Publications | Article
Frances Babb
Presentation | Speech
Frances Babb
LawFlash/Client Alert | Tax-Exempt Organizations LawFlash
Tax-Exempt Organizations
Today, the IRS released a report describing the results of its Exempt Organizations Executive Compensation Compliance Project. According to the report, a significant portion of the organizations contacted had provid... more
LawFlash/Client Alert | Tax-Exempt Organizations LawFlash
Tax-Exempt Organizations
On February 7, the IRS released Notice 2007-18, providing interim guidance on the scope of new tax shelter reporting and penalty rules enacted by the Tax Increase Prevention and Reconciliation Act of 2005 (TIPRA). TIPRA crea... more
LawFlash/Client Alert | Tax-Exempt Organizations LawFlash
Tax-Exempt Organizations
The IRS has joined the public debate regarding the specific governance practices of charitable organizations with the release on February 2, 2007 of its paper titled “Good Governance Practices For 501(c)(3) Organizations.”more
LawFlash/Client Alert | Tax-Exempt Organizations LawFlash
Tax-Exempt Organizations
On August 17, 2006, President Bush signed into law the Pension Protection Act of 2006 (PPA), which included several charitable giving incentives and numerous reforms primarily affecting charitable organizations and their don... more
Presentation | Speech
Tomer Inbar
LawFlash/Client Alert | Tax-Exempt Organizations LawFlash
Gary Wilcox,
William Zimmerman,
Tomer Inbar,
Ann Batlle,
Drew Porter,
Celia Roady,
Carolyn Ward
The Tax Increase Prevention and Reconciliation Act of 2005 (TIPRA), enacted earlier this year, may expose tax-exempt entities and their managers—potentially including outside investment managers—to significant new penalties ... more
LawFlash/Client Alert | Tax-Exempt Organizations LawFlash
Tax-Exempt Organizations
On August 3, 2006, the Senate joined the House of Representatives in passing the Pension Protection Act of 2006 (PPA), which includes many provisions intended to stimulate charitable giving and to discourage perceived tax la... more
LawFlash/Client Alert | Tax LawFlash
Tax
The recent release of FASB Interpretation No. 48, Accounting for Uncertainty in Income Taxes (FIN 48), is likely to result in increased requests by accountants and enterprises preparing financial statements for legal opinion... more
Outside Publications | Article
Kimberly Eney
LawFlash/Client Alert | Tax LawFlash
Tax
In a much-anticipated tax shelter–related decision, the Court of Appeals for the Federal Circuit, on July 12, 2006, reversed a taxpayer victory in the Court of Federal Claims holding that the economic substance doctrine does... more