The Subcommittee on Taxation and IRS Oversight of the Senate Committee on Finance held a public hearing on May 4, 2022, entitled “Laws and Enforcement Governing the Political Activities of Tax Exempt Entities.” The Joint Committee on Taxation (JCT) prepared a document in connection with the hearing containing an...
IRS & FEDERAL TAX ISSUES
Some Thoughts for First-Year Nonprofits
Congratulations on your first year as a nonprofit corporation exempt under Section 501(c)(3) of the Internal Revenue Code! Your first anniversary is a notable milestone and a chance to take a quick look back as it relates to moving forward with impact and compliance. This post is written partly...
More Highlights from the 2022 Georgetown EO Conference
This is the third and last post we’ll publish on Georgetown Law’s 39th Annual Representing and Managing Tax-Exempt Organizations Conference featuring highlights from a number of sessions (mixed in some cases with my own thoughts). You can find our earlier posts here (IRS, Treasury, Capitol Hill) and here (Current Developments)....
10 +1 Key Current Developments: 2022 Georgetown EO Conference
Georgetown Law held its 39th Annual Representing and Managing Tax-Exempt Organizations Conference in-person and by livestream. Here are some of the highlights from the session on Key Current Developments presented by Jean Tom (Davis Wright Tremaine) and Ofer Lion (Seyfarth) with some of my notes and comments interspersed. Annual...
Selected Highlights 2022 Georgetown Exempt Organizations Conference – IRS, Treasury, Capitol Hill
Georgetown Law held its 39th Annual Representing and Managing Tax-Exempt Organizations Conference in-person and by livestream on April 28-29, 2022. Here are some of the highlights from the sessions presented by representatives of the IRS, Treasury, and staffers on Capitol Hill: 2022 Message from the IRS Director, Exempt Organizations...
Is a Compensated Nonprofit Officer an Employee?
Nonprofits with compensated workers must respect applicable laws governing the distinction between employees and independent contractor. Getting it wrong can result in significant risk exposure to the organizations and even personal liability to board members. For example, nonprofits that misclassify workers as independent contractors may be responsible for unpaid...
Highlights from the ABA Exempt Organizations Committee Meeting 2/1/22 – Part One
Here are some of the highlights from the virtual ABA Exempt Organizations Committee meeting held on February, 2022 as part of the ABA 2022 Midyear Tax Meeting. News from the IRS and Treasury New “no rule area” for IRS (Rev Proc 2022-3): no rulings on whether an act of self-dealing...
Two Key IRS Reports – FY 2021
We received two Internal Revenue Service reports of note in the first week of this new year: (1) the Tax Exempt and Government Entities Fiscal Year 2021 Accomplishments Letter; and (2) the Progress Update Fiscal Year 2021. Here are some excerpts from these reports: Highlights from the TE/GE Accomplishments...
WCTEO 2021 Highlights
The following are some of the highlights from the 2021 Western Conference on Tax Exempt Organizations (WCTEO), with recognition that these just touch the surface and you’ll get so much more by attending: Lessons from Headlines Donor Advised Funds: Accelerating Charitable Efforts Act (ACE Act) – probably unlikely to be passed...
DAO: What is it? What does it mean for nonprofits?
In the past week, ConstitutionDAO raised over $45 million to bid for a first edition copy of the United States Constitution. Ultimately, they did not win the auction held by Sotheby’s on Thursday, but they put the power and influence of DAOs on the map with heavy national news...