As an update on an important matter that we raised during McDermott’s May 8 Tax Symposium, it is critical to promptly assess whether to report any excise taxes imposed under Section 4960 as the deadline for filing Form 4720...more
5/14/2019
/ Charitable Organizations ,
Employee Definition ,
Excise Tax ,
Filing Deadlines ,
Good Faith ,
Highly Compensated Employees ,
Internal Revenue Code (IRC) ,
IRS ,
Private Foundations ,
Privately Held Corporations ,
Proposed Regulation ,
Tax Exempt Entities ,
Volunteers
The Senate’s final tax reform bill contains several troubling provisions for tax-exempt organizations but represents an improvement over last month’s proposed legislation, which caused concern across the nonprofit sector. ...more
In what can only be described as a brutal attack on the nonprofit sector, the Senate has proposed sweeping changes that would have dramatic adverse effects on all tax-exempt organizations. Whereas the latest version of the...more
11/13/2017
/ Business Taxes ,
Charitable Donations ,
Colleges ,
Deferred Compensation ,
Excise Tax ,
Executive Compensation ,
Sanctions ,
Senate Finance Committee ,
Tax Exempt Entities ,
Tax Reform ,
Universities