Nonprofit organizations are on the front lines in the battle against the coronavirus (COVID-19), but they also number among the many victims of COVID-19’s devastating financial impact. In response, the Federal Reserve...more
The Internal Revenue Service (IRS) and the US Department of the Treasury released proposed regulations on April 23 that provide guidance for calculating UBTI and make some important changes to the interim guidance the IRS...more
Organizations exempt from tax under Section 501(a) of the Internal Revenue Code, other than those exempt under Section 501(c)(3), are no longer required to report the names and addresses of their donors on Schedule B of Form...more
In addition to sponsoring organizations of donor advised funds, the Notice may also impact donors and other tax-exempt organizations, including both private foundations and public charities; affected parties should submit...more