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Ropes & Gray LLP

Congress Passes Final Tax Package: Key Provisions for Tax-Exempt Organizations

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On July 3, the House of Representatives approved “The One Big Beautiful Bill Act” as approved two days earlier by the Senate. The final version of the bill contains several provisions relevant to tax-exempt organizations. The...more

Ropes & Gray LLP

Senate Tax Package Includes Major Changes to Endowment and Executive Compensation Excise Taxes

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On July 1, the Senate approved its version of “The One Big Beautiful Bill Act,” containing several provisions relevant to tax-exempt organizations. Importantly, certain proposed amendments contained in draft legislation...more

Ropes & Gray LLP

Draft Tax Legislation Released by Senate Finance Committee Brings Some Good News for Tax-Exempt Organizations

Ropes & Gray LLP on

On June 16, the Senate Finance Committee released its draft portions of “The One Big Beautiful Bill Act,” following passage by the House of its version of the bill on May 22. Like the House bill, the Senate proposal includes...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

IRS Notice Offers Good News for State Colleges and Universities (at Least for Now)

In January 2019, the Internal Revenue Service (IRS) issued Notice 2019-09, which provides interim guidance for Section 4960 of the Internal Revenue Code of 1986. As a reminder, Section 4960 imposes an excise tax of 21 percent...more

Farrell Fritz, P.C.

Not-for-Profits & the Tax Cuts and Jobs Act of 2017

Farrell Fritz, P.C. on

The new federal tax law that went into effect at the beginning of this year, the “Tax Cuts and Jobs Act of 2017” (Tax Act), will affect almost every type of individual and business in the country, and not-for profit entities...more

Nutter McClennen & Fish LLP

Practical Insights on Tax Reform: Impact on Exempt Organizations

On December 22, 2017, President Trump signed into law legislation, known as the Tax Cuts and Jobs Act (“TCJA”), which is the most extensive overhaul of the United States Internal Revenue Code (the “Code”) in 30 years. In...more

Foster Garvey PC

Decoding the Tax Cuts and Jobs Act – Part VIII: Charitable and Tax-Exempt Organizations / Estate and Gift Taxes

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Charitable organizations work hard to maintain exempt status. These organizations operate in a highly regulated landscape: In exchange for enjoying freedom from income taxes, they must comply with strict organizational and...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

The 2017 Tax Cuts and Jobs Act: A Pandora’s Box for Higher Education

The enactment of the Tax Cuts and Jobs Act of 2017 has raised a number of potential issues for institutions of higher education. Due to this significant impact, institutions need to study the Tax Act and plan appropriately....more

Pullman & Comley, LLC

ALERT: The Tax Cuts and Jobs Acts Provisions Apply to Colleges and Universities

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Although much of the reporting on the Tax Cut and Jobs Act recently enacted by Congress has focused on the deductions for individuals and businesses, the bill also includes several provisions that apply specifically to...more

Pullman & Comley, LLC

Tax Cuts and Jobs Act

Pullman & Comley, LLC on

Although much of the reporting on the Tax Cut and Jobs Act recently enacted by Congress has focused on the deductions for individuals and businesses, the bill also includes several provisions that apply specifically to...more

Goodwin

Changes on the Horizon for Colleges and Universities Under Tax Reform Legislation

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On December 20, 2017, Congress sent a major tax reform bill (the Act) to President Trump for signature. Once signed, the Act will result in significant changes for many institutions of higher education. Notably, new excise...more

Holland & Knight LLP

Tax Reform Changes to Healthcare

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Following a final vote in the U.S. House of Representatives on Wednesday morning, Dec. 20, 2017, Congress sent the Tax Cuts and Jobs Act (H.R. 1) to President Donald Trump's desk. In addition to extensive revisions to the tax...more

K&L Gates LLP

Tax Cuts and Jobs Act Could have Far-reaching Effects on Higher Education

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The House of Representatives and the Senate are on a fast track to pass sweeping tax reform legislation that would have widespread implications for colleges and universities, their employees, and their donors. As part...more

McDermott Will & Emery

Senate Tax Overhaul Bill Slaps Tax-Exempt Organizations

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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

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