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Emergencies by nature are unexpected and can cause a tremendous financial burden. When they strike an employee, the impact can radiate to fellow employees and the employer in the form of morale, performance, absenteeism, turnover and costs. In this article, ... |
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The IRS has released Issue 2012-9 of Exempt Organizations Update. |
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The IRS has ruled privately that a family charitable trust does not meet the organizational test because it benefits named private individuals which is in direct contradiction to section 501(c)(3) of the Code. Further ruled, the organizing document fails to... |
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Need to find something fast on the PGDC? Get the most out of your research on the PGDC by following a few simple rules. |
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The IRS has ruled privately that a state court's order to permit optional variable ascending annuity payments from a testamentary charitable lead annuity trust, commencing on the decedent's death and continuing for the 10-year annuity term, will satisfy... |
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For purposes of determining the present value of an annuity, an interest for life or a term of years, or a remainder or a reversionary interest, Revenue Ruling 2012-13 indicates the applicable federal rate under section 7520 for May 2012 is 1.6%; up 0.2% from the... |
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The IRS has released final regulations under section 642(c) with regard to the Federal tax consequences of an ordering provision in a trust, a will, or a provision of local law that attempts to determine the tax character of the amounts paid to a charitable... |
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Current law permitts the filing of Form 990 by paper or electronic means. In this article, Dennis Walsh, CPA makes the argument for requiring that e-filing of Form 990 be made mandatory. |
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In response to IRS Notice 2012-25, which requests items for inclusion in the 2012-2013 Guidance Priority List, attorney Lawrence P. Katzenstein of of Thompson Coburn LLP has suggested three exceptions or clarifications be made to the qualified appraisal... |
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The IRS has responded to an inquiry regarding to what extent donors, grantors, and contributors may rely on the listing of an organization in Publication 78, Cumulative List of Organizations or the IRS Business Master File (BMF) extract for purposes of... |
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The IRS has clarified that, except in very limited situations, a contribution of an easement subject to the condition the easement can be swapped is not deductible under section 170(h). |
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According to the income tax regulations, no income tax charitable deduction is permitted for a conservation easement in property which is subject to a mortgage unless the mortgagee subordinates its rights in the property to the right of the qualified organization to... |
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The IRS has released Publication 598, Tax on Unrelated Business Income of Exempt Organizations, in which it describes which organizations are subject to the tax, return filing requirements, what an unrelated trade or business is, and how to... |
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The IRS has released its monthly issue of Exempt Organizations Update. In this issue: ... |
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The Internal Revenue Service has launched a new online search tool, Exempt Organizations Select Check, to help users more easily find key information about tax-exempt organizations, such as federal tax status and filings. |
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In 2010 the IRS issued Announcement 2010-19 in which it described procedures for certain charitable trusts that classified themselves as private foundations after August 16, 2007, to be reclassified as Type III supporting organizations. These procedures... |
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In a memorandum opinion, the Tax Court has held that deeds transferred by individuals are consistent with the requirements of IRC 170(h)(4)(A)(ii) and are therefore qualified conservation contributions. Although the court made a valuation adjustment, it did not... |
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For purposes of determining the present value of an annuity, an interest for life or a term of years, or a remainder or a reversionary interest, Revenue Ruling 2012-11 indicates the applicable federal rate under section 7520 for April 2012 is 1.4%; unchanged from... |
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The IRS has released it annual dirty dozen tax scams list for 2012. Notable items are the abuse of charitable organizations and deductions, and the misuse of private annuity trusts and foreign trusts to shift income and deduct personal expenses. |
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