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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

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

CBO study examines options for charitable giving and tax consequences

  • McGuireWoods LLP
  • -
  • USA
  • -
  • May 27 2011

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

Senate Finance Committee staff releases reform options for tax-exempt organizations and charitable giving

  • McGuireWoods LLP
  • -
  • USA
  • -
  • July 9 2013

Over the last several months, the U.S. Senate Finance Committee, as part of its tax reform efforts, has issued bipartisan option papers containing

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

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

IRS shows continued interest in rebuttable presumption of reasonableness and seeks comments on recordkeeping burden

  • McGuireWoods LLP
  • -
  • USA
  • -
  • August 19 2013

On Aug. 9, 2013, the Internal Revenue Service published a notice in the Federal Register seeking comments on the recordkeeping burden placed on

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

IRS releases priority guidance plan for 2013-2014

  • McGuireWoods LLP
  • -
  • USA
  • -
  • August 16 2013

On August 9, 2013, the IRS released its Priority Guidance Plan for 2013-2014. The plan identifies and prioritizes the tax issues that the IRS