Charities that qualify may now file Form 990-N (also known as the ePostcard) online for tax years ending on or after December 31, 2007. The due date for 2007 calendar year filers is May 15, 2008. Click here to file Form 990-N online. This site is hosted by the...
CURRENT AFFAIRS & OPINION
Dean Zerbe Announces Resignation from the Senate
Dean Zerbe, senior counsel to Sen. Charles E. Grassley (R-IA), announced on January 23 that he will be resigning from his position at the end of February. In his position with Sen. Grassley, current Ranking Member and former Chairman of the Senate Finance Committee, Zerbe was a leading figure...
Retailers’ Embedded Giving Legislation
On December 19, 2007, Sen. Robert Menendez (D-NJ) introduced legislation to regulate embedded giving, a practice whereby retailers promise to donate a portion of the purchase price to one or more charities. The problem with embedded giving as highlighted by an article by Stephanie Strom in The New York...
IRA Charitable Rollover
The IRA Charitable Rollover, which provided individuals 70-1/2 years old and older with an annual exclusion of up to $100,000 from their gross income for qualified charitable distributions from IRAs, expired on December 31, 2007. Despite efforts by some legislators to get either a temporary or permanent extension of...
GreatNonprofits (and GiveWell)
GreatNonprofits is a charity and a website (still in beta) that provides "a place to find, review, and talk about great — and perhaps not yet great — nonprofits." The Chronicle of Philanthropy (December 13, 2007) featured GreatNonprofits on its front page and titled its article using founder and...
IRS Releases 2008 Form 990 (Final Redesigned Version) – December 20
On December 20, 2007, the IRS released the 2008 Form 990, the annual information return for public charities and certain other tax-exempt organizations. The final version, like the discussion draft released for comment in June, contains a core form and multiple schedules. However, several changes were made in response...
Form 990-N (E-Postcard) – Interview with CCH
A few weeks ago, I was interviewed by a reporter for CCH, a leading legal publisher, about Form 990-N. PUBLICATION UPDDATE: The article in which I am quoted appears in Federal Tax Weekly (November 21, 2007). Here is a transcript: Q: What is your opinion on the IRS’s efforts...
Attorney For Nonprofits Offers Free Legal Seminars to Minority Leaders
Responding to a surprising lack of diversity in the leadership of nonprofit organizations, an attorney strives to make a difference SAN FRANCISCO, California – November 26, 2007 — Gene Takagi, an attorney for nonprofits, is providing free legal classes to minority leaders and emerging leaders of charitable organizations. After...
Highlights of the ABA 2007 Joint Fall CLE Meeting – September 27-29
The ABA 2007 Joint Fall CLE Meeting of the Taxation and Real Property Trust and Estate Sections was held in Vancouver, B.C. on September 27-29. It was a great chance for me to visit the city in which I grew up, attend the wedding reception of a good friend,...
Suspension Lifted on Certain Type III Supporting Organization Exemption Applications
The issuance of determination letters to organizations seeking "functionally integrated Type III supporting organization" status has been lifted as of September 24, 2007. A Type III supporting organization may receive a determination letter from the IRS if it agrees to meet the criteria set forth in the Advance Notice...