Proposed legislation would require nonprofit organizations participating in California political campaigns to disclose the identity of their donors *

USA - January 2 2013
Two new bills recently introduced in the California State Legislature would increase the disclosure requirements applicable to certain nonprofit…

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IRS and Treasury release annual Priority Guidance Plan *

USA - December 10 2012
The IRS and Treasury Department have released their annual Priority Guidance Plan for the 2012-2013 fiscal year. 

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Proposed regulations change rules governing good faith determinations of a foreign organization’s equivalence to a public charity *

USA - October 3 2012
The IRS recently issued proposed regulations amending the rules applicable to a private foundation’s good faith determination that that a foreign grantee is the foreign equivalent of a public charity or private operating foundation, grants to which will be “qualifying distributions” and not “taxable expenditures.”

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IRS Advisory Committee on Tax Exempt and Government Entities recommends significant changes *

USA - June 12 2012
Last week, the IRS Advisory Committee on Tax Exempt and Government Entities (“ACT”) held a public meeting at which the panel submitted its latest round of recommendations to senior IRS executives. 

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Proposed regulations provide helpful new examples of “program-related investments” *

USA - May 3 2012
As repeatedly promised in its work plan, the IRS recently issued Proposed Regulations containing several new examples of investments that qualify as a “program-related investment” (a “PRI”) for purposes of avoiding potential characterization as a “jeopardizing investment,” which could result in the imposition of excise taxes on a private foundation and its managers under Section 4944 of the Code. 

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