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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

IRS moves to tax contributions to 501(c)(4) groups active in politics

  • McGuireWoods LLP
  • -
  • USA
  • -
  • June 9 2011

The IRS has invoked a provision that had rarely, if ever, been enforced to inform big donors to 501(c)(4) advocacy groups that their donations may be subject to gift taxes of 35 on any donation exceeding the annual gift tax exemption of $13,000 per individual or $26,000 for couples filing joint returns

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