By NEO Law Group
On April 24, 2020, the IRS and Treasury Department published proposed regulations under the law commonly referred to as the Tax Cuts and Jobs Act (TCJA) that provide guidance on how a tax-exempt organization subject to unrelated business income tax (UBIT) determines if it has more than one unrelated...
I was interviewed on a special edition of Tony Martignetti Nonprofit Radio released today, April 4, discussing specific provisions of the Families First Coronavirus Response Act and the CARES Act that apply to nonprofits. You can listen here. Below are some highlights of the two Acts and links to helpful...
Last week, Venable LLP hosted a webinar called COVID-19: What Your Nonprofit Needs To Know, which examined current questions surrounding workers, insurance, events, travel, and workplace situations. Below are some tips for nonprofits in handling the COVID-19 pandemic. Note that, as the situation is fluid and changing rapidly, good...
Nonprofits must recognize and manage the impact of the coronavirus and associated disease known as COVID-19 that has created great concern and fear for an ill-prepared and under-educated country and world. Quarantines, canceled conferences and events, staggering drops in economic markets, deserted public spaces, self-isolation, and social distancing are...
We previously wrote about California AB 1712 when it was a spot bill, a placeholder to address the Legislature’s intent to enact legislation on the subject matter of donor advised funds (DAFs). Fast forward 10 months and AB 1712 has been amended to focus on transparency and data collection...
2019 began in the middle of the longest government shutdown in history, the ramifications of which were felt within the nonprofit sector for months thereafter. Youth advocates continued to demonstrate their power and influence, with Greta Thunberg and many other young people gaining national attention and recognition for their...
There were two big changes to tax laws affecting nonprofits sure to spread some cheer. They were part of a year-end appropriations act signed into law on December 20, 2019. Repeal of the “Parking Tax” The first change is a repeal of the nonsensical and unpopular tax on qualified...
Nonprofits have long relied on public trust and confidence that they are operating with good intent. But in recent years, that trust has been eroding. While, generally, the nonprofit sector still continues to be more trusted than (for-profit) business, government, and media, the public trust issue is a serious...
The Association of Fundraising Professionals (AFP) released some of its findings from an online survey of its members earlier this year focused on professional ethical issues. Frequency of addressing ethical challenges or dilemmas: 50% reported once per year 23% reported never 17% reported roughly six times per year 8%...
The IRS and Treasury are taking another shot at providing an exception for 501(c)(4), 501(c)(5), 501(c)(6), and certain other tax-exempt organizations (notably excluding 501(c)(3) organizations) from the requirement to report the names and addresses of their contributors on Schedule B of Form 990, prompting concerns of more dark money...