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Senators King and Grassley Introduce DAF and Private Foundation Reform Legislation

USA - June 10 2021 Sen. Angus King (I-ME) and Sen. Chuck Grassley (R-IA) introduced bipartisan legislation, the Accelerating Charitable Efforts Act (the ACE Act), which…

Caitlin R. Tharp, John Cobb.

IRS Issues Updated Compliance Initiatives for Exempt Organizations

USA - April 5 2021 The IRS Tax Exempt & Government Entities Division (TE/GE) has updated its 2021 Program Letter to announce eight new compliance initiatives. Click…

Caitlin R. Tharp, John Cobb.

Treasury Report Encourages Increased Identification of Unrelated Business Income by IRS Exam

USA - March 3 2021 A report released by the Treasury Inspector General for Tax Administration (TIGTA) recommended that the IRS take certain steps to increase detection…

Caitlin R. Tharp, John Cobb.

COVID-19 Relief Bill Includes Concerning Provision for Certain Colleges and Universities

USA - January 13 2021 In March 2020, the CARES Act allocated funding for colleges and universities through the CARES Act Higher Education Emergency Relief Fund. These…

Final Regulations on Exempt Organization Excess Compensation Excise Tax

USA - January 12 2021 On Monday, January 11, Treasury and the IRS released final regulations under section 4960. Section 4960, enacted as part of the Tax Cuts and Jobs Act…

Caitlin Conroy, John Cobb.