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Results: 1-10 of 14

Changing the tax status of a charitable organization
  • Mitchell Silberberg & Knupp LLP
  • USA
  • February 13 2012

As the result of changes made by the Pension Protection Act of 2006, some charitable organizations may benefit by converting to public charity status, provided that the charities meet the requirements under Internal Revenue Code 509(a), or to otherwise change their status from one type to another


IRA required minimum distributions made in 2010 cannot be rolled over or reclassified to qualify as charitable distributions
  • Mitchell Silberberg & Knupp LLP
  • USA
  • January 13 2011

From 2006 to 2009, individuals aged 70-12 or older could annually distribute up to $100,000 tax-free from their IRA to charity, without including the distribution in gross income and taking a corresponding charitable deduction (subject to applicable limitations


IRS offers limited relief for small nonprofits
  • Mitchell Silberberg & Knupp LLP
  • USA
  • August 31 2010

The Pension Protection Act of 2006 made two important changes affecting tax-exempt organizations, effective January 1, 2007


New IRS publication addressing charitable contribution substantiation and disclosure requirements
  • Mitchell Silberberg & Knupp LLP
  • USA
  • March 12 2012

The new version of Internal Revenue Service Publication 1771, Charitable ContributionsSubstantiation and Disclosure Requirements, emphasizes the importance of proper gift substantiation and disclosure for charitable organizations


IRS updates rules for donors and grantmakers
  • Mitchell Silberberg & Knupp LLP
  • USA
  • September 12 2011

The Internal Revenue Service has updated certain rules concerning transfers to nonprofit organizations that may be used and relied on by private foundations and sponsors of donor-advised funds (“DAFs”) that must exercise expenditure responsibility and by donors to make sure that their contributions are eligible for the charitable income tax deduction


California loosens its geographically-based restriction on property tax exemptions for nonprofits
  • Mitchell Silberberg & Knupp LLP
  • USA
  • December 12 2011

While California’s Board of Equalization continues to deny property tax exemptions to charities that do not “primarily benefit persons within the geographical boundaries of the State of California,” pursuant to a new Letter to the Assessors issued December 7, 2011, the “primarily” standard is met if the charitable activities performed by the nonprofit confer some “meaningful,” “important,” or “significant” benefit to persons within California


Approval of Model Protection of Charitable Assets Act
  • Mitchell Silberberg & Knupp LLP
  • USA
  • September 19 2011

On July 13, 2011, the Uniform Law Commission approved the “Model Protection of Charitable Assets Act” (the “Act”) at the Commission’s annual meeting in Colorado


"Automatic" excess benefit transactions - fringe benefits and other red flags
  • Mitchell Silberberg & Knupp LLP
  • USA
  • June 6 2011

At a recent nonprofit governance panel discussion, "Identifying and Managing Tax Risks," an IRS official indicated that the IRS is paying significant attention to unreported fringe benefits and other "automatic" excess benefit transactions that result in "intermediate sanctions


ACGA issues new rates for charitable gift annuities
  • Mitchell Silberberg & Knupp LLP
  • USA
  • November 21 2011

On November 18, the American Council on Gift Annuities (ACGA) issued new recommended maximum rates for charitable gift annuities issued on and after January 1, 2012


California enforces new isolationist view on property tax exemptions for nonprofits
  • Mitchell Silberberg & Knupp LLP
  • USA
  • August 4 2011

California’s Board of Equalization has decided to deny property tax exemptions to charities that do not “primarily benefit persons within the geographical boundaries of the State of California,”1 notwithstanding the lack of any apparent legal requirement or even mention of it in its own “Assessor’s Handbook.”