The One Big Beautiful Bill Act introduces substantial changes to federal tax law, including select provisions affecting tax-exempt organizations and charitable contribution deductions for individual and corporate taxpayers....more
7/22/2025
/ Charitable Deductions ,
Charitable Organizations ,
Colleges ,
Excise Tax ,
Executive Compensation ,
Nonprofits ,
One Big Beautiful Bill Act ,
Tax Exemptions ,
Tax Legislation ,
Tax Reform ,
Universities
Last week, the US House of Representatives passed H.R. 1, the “One Big Beautiful Bill Act.” This alert highlights the provisions in the Bill that could impact tax-exempt organizations....more
This week, the US House Ways and Means Committee released tax legislation that includes several provisions relevant to tax-exempt organizations....more
The ongoing Los Angeles, California, wildfires have caused widespread devastation, forcing residents to evacuate, and have destroyed homes and communities. President Joe Biden approved a Major Disaster Declaration in response...more
1/14/2025
/ Biden Administration ,
Charitable Organizations ,
Compliance ,
Disaster Relief Fund ,
Employee Benefits ,
Employee Rights ,
Internal Revenue Code (IRC) ,
IRS ,
Natural Disasters ,
Retirement Plan ,
Tax Planning ,
Wildfires
The US Department of the Treasury (Treasury Department) and Internal Revenue Service (IRS) recently published proposed regulations under Section 4966 to provide additional guidance on several issues related to creating and...more
1/5/2024
/ Charitable Donations ,
Charitable Organizations ,
Compensation ,
Donor-Advised Funds (DAFs) ,
Excise Tax ,
Fund Managers ,
Internal Revenue Code (IRC) ,
IRS ,
Proposed Regulation ,
Taxable Distributions ,
U.S. Treasury
On September 14, 2022, The New York Times published an article detailing the Chouinard family’s transfer of the majority of their ownership interests in Patagonia to a 501(c)(4) nonprofit organization....more