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Results: 1-10 of 26

A nonprofit buyer’s guide to cyber insurance

  • McGuireWoods LLP
  • -
  • USA
  • -
  • December 13 2013

It seems that not a day goes by without a report of a business facing a computer hack or data breach. What may not always make the headlines

The Non-Profit Revitalization Act of 2013 overhauls New York nonprofit corporation law

  • McGuireWoods LLP
  • -
  • USA
  • -
  • October 3 2013

Both houses of New York's legislature this spring unanimously passed The Non-Profit Revitalization Act of 2013, (NY S.5845A.8072) (the "Act"), a

The problems with inflating class settlements - Klier v. Elf Atochem Inc.

  • McGuireWoods LLP
  • -
  • USA
  • -
  • October 4 2011

While it remains popular among settling lawyers and courts, the doctrine of cy pres in class actions (where defendants wind up paying charities with an ostensible link to the gravamen of a lawsuit) has been garnering criticism for some time

2012 changes to the Form 990 for exempt organizations

  • McGuireWoods LLP
  • -
  • USA
  • -
  • 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

IRS posts list of organizations that lost tax-exempt status and announces procedures for reinstatement of exemption

  • McGuireWoods LLP
  • -
  • USA
  • -
  • June 10 2011

On June 7, 2011, the IRS announced that approximately 275,000 organizations automatically lost their tax-exempt status under new rules enacted in 2006 because they failed to file the required annual federal returns for three consecutive years

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

  • McGuireWoods LLP
  • -
  • USA
  • -
  • 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

The House Ways & Means Committee’s broad proposals for federal tax reform

  • McGuireWoods LLP
  • -
  • USA
  • -
  • March 3 2014

On Feb. 26, 2014, Rep. Dave Camp (R-MI), the chairman of the U.S. House of Representative's Ways & Means Committee, released a discussion draft of a

Nonprofit healthcare: what does the future hold?

  • McGuireWoods LLP
  • -
  • USA
  • -
  • August 4 2011

It didn’t come as any surprise to healthcare providers that when the Patient Protection and Affordable Care Act (PPACA) was passed last year, legislators managed to work in a few provisions about requirements for nonprofit healthcare providers

Cat lady beats IRS

  • McGuireWoods LLP
  • -
  • USA
  • -
  • 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

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

  • McGuireWoods LLP
  • -
  • USA
  • -
  • 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