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Internet fundraising for tax-exempt organizations

Proskauer Rose LLP
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USA
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May 8 2013

The IRS recently released an Information Letter, written in response to a congressman's inquiry about an unidentified charity's unidentified

A full plate for the IRS: IRS releases 2012 exempt organizations 2012 annual report and 2013 workplan

Proskauer Rose LLP
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USA
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February 14 2013

At the end of January, 2013, the IRS Exempt Organizations Group ("EO") released its annual report, highlighting EO's 2012 accomplishments and

IRS imposes 27-month deadline for filing exemption applications for all types of exempt organizations seeking retroactive recognition of exemption and denies retroactive recognition of exemption if Forms 990 not filed

Proskauer Rose LLP
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USA
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January 10 2013

The IRS continues to implement the "three years and you're out" rule for Form 990 non-filers added by the Pension Protection Act of 2006 (the "PPA"). That

The American Taxpayer Relief Act of 2012: stealth impact on charities

Proskauer Rose LLP
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USA
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January 3 2013

The American Taxpayer Relief Act of 2012 ("TRA") (H.R. 8) passed by the Senate on January 1, 2013, passed by the House of Representatives early on January

Private Letter Ruling 201236022 (09112012)

Proskauer Rose LLP
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USA
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November 15 2012

In this PLR, the Internal Revenue Service ("IRS") ruled that amounts paid to charities from the residue of the decedent's estate pursuant to a settlement agreement qualified for the charitable deduction for federal estate tax purposes because the charities had an enforceable right under state law to receive a portion of the residuary estate due to the undue influence by the drafting attorney (who was also a beneficiary

IRS issues guidance on Hurricane Sandy disaster relief efforts

Proskauer Rose LLP
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USA
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November 8 2012

In response to the severe damage caused by Hurricane Sandy, the IRS has issued several news releases that provide guidance to charitable organizations, employers, and individuals who want to help victims of Hurricane Sandy

Proposed regulations change rules governing good faith determinations of a foreign organization’s equivalence to a public charity

Proskauer Rose LLP
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USA
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October 3 2012

The IRS recently issued proposed regulations amending the rules applicable to a private foundation’s good faith determination that that a foreign grantee is the foreign equivalent of a public charity or private operating foundation, grants to which will be “qualifying distributions” and not “taxable expenditures.”

Income tax deductions for charitable donations may be denied without a qualified appraisal Mohamed v. Commissioner, T.C. Memo 2012-152

Proskauer Rose LLP
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USA
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September 10 2012

Obtaining a qualified appraisal is an essential requirement for claiming an income tax deduction for charitable donations of property worth more than $5,000

Contributions to section 501(c)(4) organizations and the gift tax

Proskauer Rose LLP
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USA
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August 28 2012

Tax-exempt section 501(c)(4) organizations are defined by the Internal Revenue Code as “social welfare organizations.”

IRS finally confirms that contributions to single member LLCs owned by charities are deductible

Proskauer Rose LLP
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USA
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August 10 2012

On July 31, 2012, the IRS issued Notice 2012-52 (the “Notice”), providing long awaited confirmation that a charitable contribution to a limited liability company that is wholly owned by a charitable organization, and classified as a disregarded entity for U.S. federal income tax purposes (an “SMLLC”), will be treated as a contribution to a branch or division of the charitable organization

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