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Results: 1-10 of 14

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


Disclosure of charitable remainder trusts on Form 990
  • Mitchell Silberberg & Knupp LLP
  • USA
  • January 23 2012

IRS Form 990, the information return filed by tax-exempt organizations, got a major overhaul in 2008


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


"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


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


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


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


Using UPMIFA to release and modify restrictions on charitable funds
  • Mitchell Silberberg & Knupp LLP
  • USA
  • February 10 2011

Many donors impose restrictions of various types on the funds they contribute to charity


ACGA announces new rates for charitable gift annuities
  • Mitchell Silberberg & Knupp LLP
  • USA
  • May 9 2011

The American Council on Gift Annuities (ACGA) provides educational and other services to American charities regarding gift annuities and other forms of planned gifts


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