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Charitable Donations Tax Planning Internal Revenue Service

Hughes Hubbard & Reed LLP

Trump Law’s Estate Tax Exemption Is a Boon for Wealth Planning

President Donald Trump’s massive tax-and-spending package requires attention from both individuals and estate planners to advance their estate and income tax planning objectives. Originally Published by Bloomberg Law. ...more

Kohrman Jackson & Krantz LLP

Act Now or Pay Later? Estate Planning Strategies Before the 2025 Tax Sunset

The current federal estate tax exemption levels, introduced by the Tax Cuts and Jobs Act (TCJA) in 2018, have provided historically high federal estate tax exemptions. But this period of increased exemption is expected to...more

Farella Braun + Martel LLP

Nonprofit Basics: International Grantmaking – Part 2 Income Tax Withholding Rules

Welcome to EO Radio Show - Your Nonprofit Legal Resource. Today's episode is the second in a three-part series addressing several critical compliance topics relevant to international grantmaking by U.S. public charities and...more

Gerald Nowotny - Law Office of Gerald R....

Hooked on a Feeling! The Benefits of 501(c)(4) Charitable Organizations

I seem to have been on a writing sabbatical for the last year. Over the course of the year, I have discovered a few new planning ideas to share going forward. From previous articles you already know that I grew up in the...more

Farella Braun + Martel LLP

REFRESH: Loot and Private Foundation Rules – Part 2

Welcome to EO Radio Show - Your Nonprofit Legal Resource. In this episode, we refresh EO Radio Show episode 22, the second of our two episodes exploring private foundation rules using commentary on the comic Apple TV+ series...more

Farella Braun + Martel LLP

IRS Dirty Dozen Warnings on Charitable Scams

Welcome to EO Radio Show - Your Nonprofit Legal Resource. In this episode, Cynthia Rowland highlights some tax schemes designed to exploit both taxpayers and the Treasury. The Internal Revenue Service just wrapped up the 2024...more

Nutter McClennen & Fish LLP

Legacy Matters (Spring 2024)

Welcome to the spring edition of Legacy Matters, Nutter’s private wealth and nonprofit newsletter focusing on estate planning and philanthropy topics. In this issue, we analyze charitable deductions and required recordkeeping...more

Farella Braun + Martel LLP

Nonprofit Quick Tip: State Filings in North Carolina and South Carolina

Welcome to EO Radio Show - Your Nonprofit Legal Resource. Episode 75 is the tenth in a series of Quick Tip episodes focusing on the details of state registration of nonprofit corporations. Today, Cynthia Rowland and Joe...more

Polsinelli

Bare Knuckle Conservation Easement Brawl Leaves Participants in Limbo

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Two recent tax court cases paint an ominous picture for professionals and investors who participated in listed syndicated conservation easement transactions. Coming on the heels of the Fisher conviction and his lengthy...more

Cadwalader, Wickersham & Taft LLP

IRS Releases Proposed Donor-Advised Fund Regulations

The IRS recently released proposed regulations interpreting the provisions of the Code pertaining to donor-advised funds ("DAFs"). The regulations provide needed definitions of working terms such as DAFs, Donors and...more

Gray Reed

The Fine Print: IRS Examination of Artwork

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Many taxpayers have art collections. However, the art collections of some high-net-worth individuals, family offices, and business taxpayers may draw the unwanted eye of the IRS. With the increased focus on auditing...more

Farella Braun + Martel LLP

The New Proposed Regulations on DAFs: Taxable Distributions and the Penalty Tax

Welcome to EO Radio Show - Your Nonprofit Legal Resource. In today's episode, the final episode on the new DAF regulations, Cynthia Rowland takes a close look at the new Proposed Regulations 53.4966-2 and -5, which cover the...more

Pullman & Comley, LLC

'Tis the Season for Giving Charitable Giving Through Donor Advised Funds

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Have you considered establishing a donor advised fund as part of your year end giving? A donor advised fund is a type of charitable giving vehicle that allows you to make an irrevocable contribution to a charitable...more

McDermott Will & Schulte

Weekly IRS Roundup September 21 – September 27, 2023

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of September 21, 2023 – September 27, 2023...more

Polsinelli

Conservation Easements: Palpable Fraud or Honest Mistakes? A Federal Jury Returns a Split Verdict

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On September 22, 2023 a federal jury convicted two promoters, CPA Jack Fisher and attorney James Sinnott, in the Department of Justice’s (“DOJ”) first criminal trial over allegedly abusive syndicated conservation easements...more

Schwabe, Williamson & Wyatt PC

Understanding Charitable Gifts

Charitable giving is a way for businesses and individuals to support the causes that align with their values while saving on taxes. This article will cover common questions associated with charitable giving that will...more

Lathrop GPM

Valuable Lessons in Charitable Deductions

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A recent Tax Court case provides important guidance for donors and charities making and negotiating gifts of appreciated property. While generally donors who donate appreciated property to a public charity do not recognize...more

ASKramer Law

How to Donate Cryptocurrency and Other Digital Assets to Charity

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Explosive growth in digital assets has left investors with real questions about how to donate cryptocurrency and non-fungible tokens. That the tax bills are high enough to generate this interest is clear evidence of the gains...more

Freeman Law

Tax Court in Brief | Cattail Holdings, LLC v. Comm’r | Conservation Easement “Protected in Perpetuity” and Supervisory Approval of...

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Summary: In September 2016 Dolomite Holdings 251, LLC (Dolomite), acquired a 723-acre tract of land in Virginia. On November 28, 2017, Dolomite contributed 207 acres of this tract (Property) to Cattail in exchange for a 100%...more

Husch Blackwell LLP

Common Gift Tax Return Mistakes and Ways to Avoid Them

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Over the past few years, an unprecedented number of taxpayers have been taking advantage of the historically high estate, gift, and generation-skipping transfer tax (GST tax) exemptions—currently $12.92 million for 2023 or...more

Polsinelli

$1.7 Trillion Spending Bill Drops the Hammer on Conservation Easements

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Only months after the U.S. Tax Court and the 6th Circuit Court of Appeals ruled that the IRS failed to adhere to the Administrative Procedures Act when it promulgated Notice 2017-10 and designated most Syndicated Conservation...more

Freeman Law

Correction to APA Non-Compliance | IRS Issues Proposed Regulations for Syndicated Conservation Easements

Freeman Law on

On December 6th, the IRS proposed regulations (and comment period for same) that would require participants and promoters of syndicated conservation easement transactions to make certain disclosures relating conservation...more

McGuireWoods LLP

Procedural Missteps Lead to Loss of Tax Deductions for Charitable Gifts

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As the end of 2022 approaches, many individuals, families and businesses consider making donations to their favorite charities. In light of recent judicial decisions enforcing “strict requirements” to claim tax deductions for...more

Polsinelli

SCOTUS Could Vacate Conservation Easement Regulations

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As the IRS and the Department of Justice continue to focus enforcement efforts on conservation easements, the Supreme Court has been asked to settle a dispute regarding the validity of the “protected in perpetuity”...more

Woods Rogers

‘Tis the Season (For Charitable Giving)

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The year-end is approaching, but you still have time to work on your 2022 tax planning. Consider giving to your favorite charity to make this holiday season merry. Planned charitable giving provides you a way to maximize...more

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