Morgan Lewis partner Alex Reid spoke with Bloomberg Law about the US Office of Information and Regulatory Affairs review of proposed rules regarding how nonprofits calculate taxes on non-core focus activities. In the article, he discussed the delay in the review process and the coronavirus (COVID-19) pandemic stimulus package. “They would have had to decide whether to delete the discussion of tracing losses into silos altogether or rewrite it to update with new law. Hence the delay,” said Alex.
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