News & Analysis as of

501(c)(3) Charitable Organizations Tax Deductions

Fleurinord Law PLLC

Betty White’s Love for Animals and How Pet Trusts Can Protect Your Furry Friends

Fleurinord Law PLLC on

Betty White wasn’t just America’s beloved “Golden Girl”—she was also a passionate, lifelong advocate for animal welfare. As a longtime trustee of the Greater Los Angeles Zoo Association (GLAZA) and a dedicated supporter of...more

Freeman Law

Adverse Rulings from the IRS Exempt Organizations Division. How Can Your Organization Learn from Others’ Mistakes?

Freeman Law on

On July 1, 2022, the IRS, Director of Exempt Organizations issued an array of final adverse determinations with respect to organizations seeking exemption under 26 U.S.C. sections 501(c)(3), 501(c)(4), and 501(c)(7). In these...more

Freeman Law

Tax Exemption and Unrelated Business Income Tax (UBIT): The Framework (Part 1 of 3)

Freeman Law on

This Insights blog is Part 1 of a 3-Part series that provides a focused overview of the unrelated business income tax rules for the nonprofit organization that is tax-exempt pursuant to section 501(c)(3) of the Internal...more

Goodwin

Introduction To “Friends Of” Organizations

Goodwin on

Under § 170(c) of the Internal Revenue Code of 1986 as amended (the “Code”), a U.S. taxpayer may only claim a deduction on his or her federal income tax return for contributions made to 501(c)(3) charitable organizations...more

Foley & Lardner LLP

Charitable Planning In the Year of a Business Sale – Part 1 of 2

Foley & Lardner LLP on

Business owners who work hard to grow a business and sell it (hopefully, with a substantial windfall) oftentimes focus on philanthropy and making a difference with their new-found wealth. Successful sellers usually recognize...more

Goodwin

The Consolidated Appropriations Act Of 2021: An Update For Tax-Exempt Organizations

Goodwin on

On December 27, 2020, “The Consolidated Appropriations Act of 2021” (H.R. 133) (the “CAA”) was signed into law by the President. The CAA includes various updates to, and additional funding for, programs established under the...more

Blank Rome LLP

Key Considerations for Creating Employer-Sponsored Charities in Response to the COVID-19 Crisis

Blank Rome LLP on

With the growing impact of COVID-19, industries across America are laying off numerous workers, who will be without jobs and income for an undetermined period of time. As this crisis plays out, many business owners are...more

Polsinelli

Tax Bill Causes Alarm for Some Charities and Tax-Exempt Organizations

Polsinelli on

The Tax Cuts and Jobs Act, which has been renamed the Amendment of 1986 Code, was signed into law by President Trump on December 22, 2017. Many are calling it the most sweeping overhaul to the United States tax system in...more

Proskauer - Not for Profit/Exempt...

New Rules for Tax-Exempt Organizations in the Tax Cuts and Jobs Act

House Republican Tax Bill Imposes Excise Tax on Wealthy Private Universities and Excess Compensation of Highly Paid Employees; Subjects State Pension Plans to UBTI Rules - On Thursday, November 2, House Republicans led by...more

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