WCTEO 2018 Highlights

The 2018 Western Conference on Tax Exempt Organizations (WCTEO) is currently taking place in Los Angeles. Here are some selected running highlights. Washington Updates IRS 2018-2019 Priority Guidance Plan – Implementation of the Tax Cuts and Jobs Act (Items 21, 34, 39, 40, 58); Exempt Organizations (pp. 16-17); General Tax Issues (Item...

Cryptocurrency and Nonprofits

We seem to be hearing more and more about cryptocurrency. Is it the money of the future? Is it a passing trend? And what do nonprofits need to know about cryptocurrency, the underlying blockchain technology, and the existing regulation? What is Cryptocurrency? There are four critical definitions required for...

IRS TE/GE Fiscal Year 2019 Program Letter

On October 3, 2018, the IRS Tax Exempt and Government Entities (TE/GE) division issued their Fiscal 2019 Program Letter (updated link here). Note in particular the emphasis on data-driven approaches and the focus on private foundation self-dealing, nonprofits that had converted from for-profits, and proper worker (employee vs. contractor) classification. Here...