By NEO Law Group
On July 30, 2019, in Bullock vs. Internal Revenue Service, a federal court held unlawful and set aside Rev. Proc. 2018-38 as adopted by the IRS without complying with applicable notice-and-comment procedures. Rev. Proc. 2018-38 provided that tax-exempt organizations described by section 501(c), other than section 501(c)(3) organizations, will no...
In 2018, the Treasury Department changed its regulations to exempt tax-exempt organizations described by section 501(c), other than section 501(c)(3) organizations, from the requirement that they report the names and addresses of their contributors on the Schedule B of their Forms 990 or 990-EZ. See Treasury Eliminates Donor Information Disclosures...
On June 5, 2019, the Department of Justice (DOJ) published notice of modifications to the text of the proposed amendments to California Code of Regulations and certain charity-related registration forms. We wrote on the original proposed amendments to the initial registration Form CT-1 and annual registration renewal Form RRF-1...
California Assembly Bill 1181 (AB 1181), introduced by Assembly Member Monique Limón (D – Santa Barbara) on February 21, 2019, generally provides for valuation of a noncash contribution received by a charitable organization that is restricted by the donor from being used domestically based on its fair market value in the...
California Assembly Bill 1338, introduced by Assembly Member Jacqui Irwin (D) on February 22, 2019, adds a requirement to meet the definition of a community foundation for the purpose of a Chapter of the Planning and Zoning Law regarding agency authorization of special entities, including community foundations, to hold...
California Assembly Bill 1539 (AB 1539), introduced by Assembly Member Jacqui Irwin (D) on February 22, 2019, provides for new laws governing crowdfunding without actually referencing crowdfunding as a defined term. It is the successor to Irwin’s earlier bill, AB 2556, which defined the terms charitable crowdfunding solicitation and...
The Office of the Attorney General, Department of Justice (“DOJ”) of the State of California is proposing to amend certain regulations and Forms that will affect charities subject to registration in California. The Notice of Amendments to Regulations and related documents can be found here. We wrote about proposed changes...
The Office of the Attorney General, Department of Justice (“DOJ”) of the State of California is proposing to amend certain regulations and Forms that will affect charities subject to registration in California. The Notice of Amendments to Regulations and related documents can be found here. Any interested person, or...
Originally published in part on LinkedIn My prediction for 2019 is very broad and perhaps obvious: an increase in conflicts. Certainly among political parties, political candidates, and political ideologies. But also within the nonprofit sector, which is composed of organizations that represent and/or support political actors and ideologies across...
2018 has featured many major events that have affected, and will continue to affect, the nonprofit sector. On January 1, 2018, the Tax Cuts and Jobs Act, the most comprehensive overhaul of the U.S. tax code in over 30 years, went into effect, leaving nonprofits with many unanswered questions...