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IRS Issues Interim Guidance to Organizations with Multiple Unrelated Businesses

On August 21, the Internal Revenue Service released IRS Notice 2018-67, which provides long-awaited interim guidance on the new rules under Section 512(a)(6) ... read more >

Tax Implications of Senate's Version of Tax Reform for Exempt Organizations

Keith Donnelly also contributed to this article. On November 9, 2017, the Senate Finance Committee released policy highlights of their version of the “Tax ... read more >

Website Launched for Grant Seekers to Review Foundations

GrantAdvisor.org is an electronic platform recently launched that allows grant applicants and recipients to review foundations and provide comments on ... read more >

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 >