By NEO Law Group
It is becoming increasingly common to see 501(c)(3) organizations affiliated with 501(c)(4) social welfare organizations or 501(c)(6) business leagues. Such affiliations provide an ability to coordinate activities and share resources to further a common goal. But the affiliated organizations must maintain appropriate separation to mitigate against the risks of...
Thanks to our friends at Perlman+Perlman for providing us with permission to re-publish this important post on the “Newman’s Own Exception” to the Excess Business Holdings Rule by one of its partners, Allen Bromberger, whose bio we include at the end of the post. On February 9, 2018, President...
On February 22, 2018, Erin and I recorded a webinar for Continuing Education of the Bar – Representing Charitable Nonprofits: Formation and Exemption. It’s a basic to intermediate-level 90 minute CLE program available here. Ensure you can advise clients on the special issues affecting nonprofits. This program covers how to...
In the new Revenue Procedure 2018-15, effective for tax years beginning on or after January 1, 2018, the IRS has indicated that it will generally not require a new exemption application from a domestic Internal Revenue Code (“IRC”) Section 501(c) organization that changes its form or place of organization....
On January 16, 2018, the IRS released the final version of Form 1024-A, Application for Recognition of Exemption under Section 501(c)(4) of the Internal Revenue Code (“IRC”). While organizations that believe they are properly classified as a 501(c)(4) organization may self-declare their tax exempt status, organizations that choose to...
The new tax law, the Tax Cuts and Jobs Act of 2017 (TCJA), despised by a great majority of the public and leading nonprofits, is now law. Nonprofits should be aware of these provisions and how they may impact their fundraising and operations. Part 1, focused on fundraising, is available...
Originally published on LinkedIn. We’ll see an increase in the number of 501(c)(4) social welfare organizations being formed and receiving contributions. While contributions to 501(c)(4) organizations are not deductible as charitable contributions, this won’t matter to many donors for two major reasons: With the increase in the standard deduction,...
I’ll be on Nonprofit Radio this Friday, January 19, at 10:00 am PT / 1:00 pm ET talking with host Tony Martignetti about the new tax law and its impact on nonprofits. The Tax Cuts and Jobs Act of 2017 represents the most significant change to the Internal Revenue Code in over 30 years...
Form 1023 The IRS has released an updated Form 1023, revised December 2017. Form; Instructions. For organizations submitting the full Form 1023, the user fee is now $600. The instructions indicate that organizations should refer to Rev. Proc. 2017-5, 2017-1 I.R.B. 230, or a later revision for updates to...
The new tax law, the Tax Cuts and Jobs Act, despised by a great majority of the public and leading nonprofits, is now law. Nonprofits should be aware of these provisions and how they may impact their fundraising and operations. Part 1 – Fundraising The following temporary* provisions in...