The big news on the nonprofit exempt organizations front this week, the IRS decision to go after certain donors to 501(c)(4) social welfare organizations for gift taxes. The IRS states this is not politically motivated, but it sure seems like a reaction to last year's Citizens United Supreme Court decision. Ofer Lion of Mitchell, Silberberg & Knupp LLP kindly sent me his client alert on this matter on May 10, the same day Politico "broke" the story (citing Lion). But Greg Colvin of Adler & Colvin had already been tweeting about this from the ABA Tax Section Meeting on May 7 (see the Adler Colvin client alert).
Here are some of my favorite posts of the week in the areas of nonprofit organizations, corporate governance, philanthropy, and social enterprises:
- Philanthropy: IRS Confirms Audits of Advocacy-Group Donors http://ow.ly/1cEa82
- GregLColvin: Just posted a Client Alert on IRS pursuit of (c)(4) donors for gift tax here http://bit.ly/PTWl5
- GregLColvin: I asked IRS officials point blank re: these (c)(4) gift tax audits: Why now? Why no announcement? Reach back to 2008 election? No answer
- nonprofitlawyer: Jack Siegel's 5 key issues – 3cupsoftea and a Class Action Lawsuit: Drink the Tea, Dismiss the Lawsuit http://bit.ly/m0gmZ3
- HildyGottlieb: A whole new site just for nonprofit boards http://is.gd/lPObln
- nonprofitlawyer: "Why People Hate Nonprofit Board Service" http://bit.ly/j5XkYN // Also: Too many directors? http://bit.ly/mH4H9j & Tips http://bit.ly/d6F5cP
- robreich: Tax Lawyer [Jack Siegel] in favor of eliminating charitable deduction as a piece of fundamental tax reform. http://bit.ly/juAxji
- IndSector: The charitable deduction is at risk! Learn more: http://ow.ly/4RtXj
- cpreston: NYT: Cash-strapped cities ask nonprofits for more money http://ow.ly/4T1Fy
- charitylawyer: Nonprofit Volunteers – Managing Risk http://bit.ly/jL0TUf
- LawForChange: Sharing office space can boost nonprofit effectiveness, study finds. http://ow.ly/4SgFw [Measuring Collaboration: The Benefits and Impacts of Nonprofit Centers]
- BlendedValue: Hey! Am I the only one who just found about about the SE Toolbelt? http://www.setoolbelt.org/ haven't had a chance to use, but looks good!
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