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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

How would President Obama’s budget affect charities?

  • McGuireWoods LLP
  • -
  • USA
  • -
  • 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
  • -
  • 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

Common Cause challenges American Legislative Exchange Council's tax-exempt status using whistleblower provisions

  • McGuireWoods LLP
  • -
  • USA
  • -
  • May 4 2012

Using the whistleblower provisions of the Internal Revenue Code of 1986 (Code or IRC), Common Cause has reported to the IRS what it states is “massive underreporting of lobbying by the American Legislative Exchange Council” (ALEC

Senate finance committee considers modification of charitable deduction

  • McGuireWoods LLP
  • -
  • USA
  • -
  • 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
  • -
  • 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

Disaster relief - what you need to know

  • McGuireWoods LLP
  • -
  • USA
  • -
  • 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

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

Tax-exempt bond compliance reporting given a mixed grade by IRS

  • McGuireWoods LLP
  • -
  • USA
  • -
  • July 18 2011

The IRS Tax Exempt Government Entities Division has published a final report on its Tax-Exempt Charitable Financings Compliance Check Questionnaire and Governmental Bond Financings Compliance Check Questionnaire projects

IRS suspends for further study contributions to 501(c)(4) organizations

  • McGuireWoods LLP
  • -
  • USA
  • -
  • July 7 2011

In a directive issued today to IRS offices, the Service is suspending any further examination activity on the gift tax treatment of contributions to 501(c)(4) organizations