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Further Scrutiny of College and University Endowments

On September 13, 2016, the House Ways and Means Subcommittee on Oversight held the first of several anticipated hearings to address the manner in which ... read more >

Proposed Regulations Address Changes to Form 1098-T Reporting Requirements

On July 29, the Internal Revenue Service (“IRS”) issued proposed treasury regulations to reflect changes to the reporting requirements for ... read more >

IRS Withdraws Proposed Regulations for Substantiating Charitable Contributions

On November 11, 2015, we posted “our thoughts” on new rules for substantiating charitable contributions proposed by the Internal Revenue Service. ... read more >

New Rules Proposed for Substantiating Charitable Contributions

UPDATE to proposed treasury regulations. Currently, to claim a tax deduction for a charitable contribution, a taxpayer must obtain a contemporaneous written ... read more >

Attention Educational Institutions: Penalties Will be Waived for Form 1098-T Filers

On Friday, August 28, 2015, the IRS announced that it will waive penalties assessed against any college, university, or other educational institution for ... read more >

2014 Form 990 Schedule B Instructions Clearly Address Use of the Special Rule

In January, 2014, we published an article addressing the use of the special rule for reporting contributions on Schedule B, Schedule of Contributors, of ... read more >

New Streamlined Process for Applying for Tax Exemption

Effective July 1, 2014, the Internal Revenue Service (IRS) released Revenue Procedure 2014-40, which sets forth the procedures used to apply for an issue ... read more >

2013 Form 990 Instructions Clarify Schedule B Special Rule Reporting


By Debra Ries

Form 990’s Schedule B, Schedule of Contributors, generally requires a tax-exempt organization to report donor information for contributions of $5,000 ... read more >

IRS Rolls Out Compliance Check for 457(b) Plans


By Debra Ries

The Employee Plans Compliance Unit of the Internal Revenue Service kicked off a new compliance check project directed at non-governmental Section 457(b) ... read more >

Real Estate Tax Exemption Reviews


By Debra Ries

Last week approximately 2,800 letters were mailed to owners of tax-exempt properties whose properties are exempt under the Institutions of Purely Public ... read more >