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2012 changes to the Form 990 for exempt organizations

McGuireWoods LLP
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USA
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May 3 2013

The 2012 Form 990 and Form 990-EZ for tax year 2012 contain certain changes. The due date for filing the required return for an exempt organization

How would President Obama’s budget affect charities?

McGuireWoods LLP
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USA
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April 22 2013

The Obama Administration released its budget proposal for 2014 on April 10, 2013, calling for nearly $250 billion in new spending on jobs, public

Recent court decisions highlight need for compliance with substantiation rules to claim income tax charitable deduction

McGuireWoods LLP
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USA
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July 12 2012

Individuals who itemize their deductions on their federal income tax return can claim a deduction for contributions to qualifying charities, but only if the contributions are properly substantiated

Senate finance committee considers modification of charitable deduction

McGuireWoods LLP
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USA
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November 3 2011

The Senate Committee on Finance held a hearing on Oct. 18, 2011, regarding the income tax charitable deduction and tax incentives for charitable giving

GuideStar provides report on grant-making and donations to charitable organizations

McGuireWoods LLP
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USA
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September 1 2011

GuideStar, a nonprofit organization that maintains a database of information about tax-exempt organizations, released a new publication on August 19, 2011, reviewing the rules for making grants to charities and deductible charitable contributions

Disaster relief - what you need to know

McGuireWoods LLP
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USA
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August 25 2011

In the aftermath of the recent earthquake that shook the east coast of the United States, the tornados of this summer and now the impending hurricane season, we are reminded that we are subject to the mercy of natural forces causing injury to individuals and property

Cat lady beats IRS

McGuireWoods LLP
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USA
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June 14 2011

In a recent Tax Court case, Jan Elizabeth Van Dusen v. Commissioner,136 T.C. No. 25, the court allowed a volunteer’s “unreimbursed expenses” incurred while taking care of stray cats in the taxpayer’s home for a 501(c)(3) charity

CBO study examines options for charitable giving and tax consequences

McGuireWoods LLP
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USA
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May 27 2011

Congress and the Obama administration are looking closely at options to revise or replace the current charitable deduction

Is Congress tipping its hand on the future of charities and charitable deductions?

McGuireWoods LLP
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USA
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May 11 2011

Tax-exempt organizations should be aware of expected hearings to discuss making certain temporary provisions and charitable giving incentives, such as the IRA charitable rollover provision, permanent for the tax-exempt community, according to a Senate Finance Committee aide at the recent Tax Section meeting of the American Bar Association in Washington, D.C