The American Taxpayer Relief Act of 2012 extends IRA charitable rollover until December 31, 2013 *

USA - January 10 2013
The American Taxpayer Relief Act of 2012 (the Act) includes a number of provisions that will be favorable for philanthropy and charitable giving…

Signatory authority of officers and the importance of a thorough bylaw review *

USA - August 23 2012
After the President of Penn State University executed a consent decree with the NCAA, numerous parties announced they may bring a federal lawsuit against the athletic association alleging the university president had no authority to do so.

IRS issues notice on charitable contributions to domestic disregarded entities *

USA - August 1 2012
The IRS has issued a ruling to provide guidance on the deductibility of contributions to domestic single-member limited liability companies that are wholly owned and controlled by organizations described in § 170(c)(2) of the Internal Revenue Code (U.S. charities) and for federal tax purposes are disregarded as entities separate from their owners under § 301.7701-2(c)(2)(i) of the Procedure and Administration Regulations (SMLLCs).

IRS identifies organizations that have lost tax-exempt status and provides guidance on attaining reinstatement *

USA - June 10 2011
On June 8, the Internal Revenue Service announced in a press release that approximately 275,000 organizations automatically lost their tax-exempt status because they failed to file legally required annual reports for three consecutive years