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Proskauer Rose LLP

Wealth Management Update - March 2025

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March 2025 AFRs and 7520 Rate - The March 2025 Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 5.40%, which was the same as the February 2025 rate...more

Clark Hill PLC

The Corporate Transparency Act's Impact On Charities and Tax-Exempt Entities (Updated)

Clark Hill PLC on

The Corporate Transparency Act (the “CTA”) became effective Jan. 1, 2024. The CTA’s goal is to reduce money laundering and other financial crimes by requiring the reporting of ownership and control information of businesses...more

Warner Norcross + Judd

Charitable Giving – It’s Not Just for December

Warner Norcross + Judd on

At the end of the year, many people think about giving to charities, especially people who are seeking additional tax deductions. In fact, statistics show that as much as 30% of charitable giving is done in the last month of...more

Adler Pollock & Sheehan P.C.

Estate Planning Pitfall – Your Charitable Gifts Are Unrestricted

If you’re making sizeable donations to charity as part of your estate plan, your good intentions are clear. But how do you know the funds will be used to further the charity’s mission? There are no absolute guarantees...more

Coblentz Patch Duffy & Bass

Transferee Liability: The [Unlikely] Situation that your Nonprofit Receives a Charitable Gift with Expensive Tax Strings Attached

The case of Salus Mundi Foundation et al v. Commissioner - On August 15, 2016, the Tax Court decided in Salus Mundi Foundation et al v. Commissioner, T.C. Memo. 2016-154, that two foundations were liable as transferees...more

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