2020. A devastating year for so many. But it will also be remembered as an inevitable one that forced us to confront some long-standing problems. Here is our list of 10 significant news events of 2020 affecting the nonprofit sector in the United States: COVID-19 (more than 325,000 deaths and 18 million cases in the […]
Author: Gene Takagi
Nonprofit Tweets of the Week – 12/25/20
Stay informed of the week’s notable events and shared resources with this curated list of Nonprofit Tweets of the Week. Notable Events of the Week: “House Republicans on Thursday blocked an effort by House Democrats to approve $2,000 stimulus payments for millions of Americans. Democrats were seeking to advance the measure after President Trump demanded […]
California FTB Update for Nonprofits
Here are some updates from the California Franchise Tax Board (FTB) affecting nonprofit tax-exempt organizations: Changes Effective January 1, 2021 Form 3500 Application Fee Eliminated – Form 3500 applications received on or after 01/01/2021 will no longer require the $25 application fee. FTB will use the received date as the determining factor, so applications mailed […]
WCTEO 2020 Highlights: Nonprofits in Distress
The following are some of the highlights from the session on Nonprofits in Distress at the 2020 Western Conference on Tax Exempt Organizations (WCTEO), presented by Erin Bradrick (NEO Law Group), Ofer Lion (Seyfarth Shaw), Tania Moyron (Dentons), and Stephanie Petit (Adler Colvin): Zone of Insolvency, Bankruptcy, and Debt Restructuring Under California law, directors do not owe […]
Nonprofit Tweets of the Week – 12/18/20
Stay informed of the week’s notable events and shared resources with this curated list of Nonprofit Tweets of the Week. Notable Events of the Week: “President-elect Joe Biden chose Rep. Deb Haaland (D-N.M.) Thursday to serve as the first Native American Cabinet secretary and head the Interior Department, a historic pick that marks a turning […]
Nonprofit Tweets of the Week – 12/11/20
Stay informed of the week’s notable events and shared resources with this curated list of Nonprofit Tweets of the Week. Notable Events of the Week: “The Food and Drug Administration accelerated its timeline for issuing an emergency authorization for Pfizer’s Covid-19 vaccine after President Trump’s chief of staff, Mark Meadows, told Dr. Stephen M. Hahn, […]
WCTEO 2020 Highlights: Charitable Purpose in the 21st Century
The following are some of the highlights from the session on Charitable Purpose in the 21st Century at the 2020 Western Conference on Tax Exempt Organizations (WCTEO): Historical context: Rev. Rul. 71-447: “All charitable trusts, educational or otherwise, are subject to the requirement that the purpose of the trust may not be illegal or contrary […]
Nonprofit Tweets of the Week – 12/4/20
Stay informed of the week’s notable events and shared resources with this curated list of Nonprofit Tweets of the Week. Notable Events of the Week: “Iran’s top nuclear scientist, who American and Israeli intelligence have long charged was behind secret programs to design an atomic warhead, was shot and killed in an ambush on Friday […]
Treasury and IRS 2020-2021 Priority Guidance Plan
The joint Treasury and IRS 2020-2021 Priority Guidance Plan was published on November 17, 2020. The Plan includes a work list of projects for the 12-month period ending June 30, 2021. The following are some of the key provisions for exempt organizations: Tax Cuts and Jobs Act Regulations on computation of unrelated business taxable income […]
Nonprofit Tweets of the Week – 11/27/20
Stay informed of the week’s notable events and shared resources with this curated list of Nonprofit Tweets of the Week. Notable Events of the Week: “President Trump effectively surrendered his three-week protest of the election results Monday by submitting to the government’s official transition to the incoming Biden administration, bowing to a growing wave of […]