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IRS denials of tax-exempt status to mortgage foreclosure assistance providers offer lessons for housing counseling agencies

Venable LLP
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USA
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March 11 2013

The Internal Revenue Service (IRS) is preparing an industry-wide review of tax-exempt organizations that are engaged in mortgage foreclosure

U.S. House of Representatives Ways and Means Committee holds marathon session on charitable contribution tax deduction

Venable LLP
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USA
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February 15 2013

Yesterday, the U.S. House of Representatives Ways and Means Committee (the "Committee") held an extensive hearing to address the itemized deduction

IRS releases Exempt Organizations 2012 Annual Report and 2013 Workplan

Venable LLP
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USA
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February 5 2013

The Internal Revenue Service (IRS) recently issued its Exempt Organizations 2012 Annual Report and 2013 Workplan (Workplan). The Workplan provides

IRS examinations of nonprofit housing counseling agencies

Venable LLP
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USA
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February 4 2013

This is a pivotal time for nonprofit providers of housing counseling and related services. The Internal Revenue Service ("IRS") has begun to focus on

CFPB issues affinity credit card report to congress: how nonprofits can minimize their legal and tax risk

Venable LLP
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USA
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November 20 2012

Affinity credit cards continue to be significant revenue generators for colleges and universities (and their affiliated organizations), associations and many other types of nonprofit organizations

IRS releases group exemption questionnaire as part of compliance check initiative

Venable LLP
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USA
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October 25 2012

The IRS has recently issued an extensive questionnaire, available here, aimed at understanding how associations, charities and other federally tax-exempt organizations that hold a group exemption ruling oversee their subordinates and comply with annual filing and disclosure requirements

Unrelated business income tax for nonprofits: the basics

Venable LLP
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USA
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October 24 2011

A tax-exempt organization is generally exempt from federal corporate income tax on income derived from activities that are substantially related to the organization's tax-exempt purposes

Lobbying: what does it mean for nonprofits?

Venable LLP
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USA
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September 15 2011

Nonprofit organizations that conduct federal lobbying must be cognizant of at least two different definitions of lobbying in order to comply with applicable federal tax law and federal lobbying disclosure laws

Nonprofit partnerships: a guide to the key legal issues and pitfalls

Venable LLP
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USA
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August 16 2011

This manual uses the term “partnership” as most people would use the word when speaking to one another

IRS denies 501(c)(3) status to bankruptcy counseling agency

Venable LLP
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USA
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May 16 2011

On April 29, 2011, the Internal Revenue Service ("IRS") issued Private Letter Ruling ("PLR") 201117036 denying recognition of tax-exempt status under Section 501(c)(3) of the Internal Revenue Code ("Code") to a nonprofit credit counseling agency ("CCA") because its primary activity would have been the provision of pre-bankruptcy certification and post-bankruptcy counseling for fees

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