By NEO Law Group
2020 was a horrendous year for much of the world and for the nonprofit sector. But it came with reminders of longstanding problems and prices to pay for past actions and inactions, which will hopefully catalyze changes that need to be made in 2021 and beyond. For us at...
2020. A devastating year for so many. But it will also be remembered as an inevitable one that forced us to confront some long-standing problems. Here is our list of 10 significant news events of 2020 affecting the nonprofit sector in the United States: COVID-19 (more than 325,000 deaths...
Stay informed of the week’s notable events and shared resources with this curated list of Nonprofit Tweets of the Week. Notable Events of the Week: “House Republicans on Thursday blocked an effort by House Democrats to approve $2,000 stimulus payments for millions of Americans. Democrats were seeking to advance...
Here are some updates from the California Franchise Tax Board (FTB) affecting nonprofit tax-exempt organizations: Changes Effective January 1, 2021 Form 3500 Application Fee Eliminated – Form 3500 applications received on or after 01/01/2021 will no longer require the $25 application fee. FTB will use the received date as...
The following are some of the highlights from the session on Nonprofits in Distress at the 2020 Western Conference on Tax Exempt Organizations (WCTEO), presented by Erin Bradrick (NEO Law Group), Ofer Lion (Seyfarth Shaw), Tania Moyron (Dentons), and Stephanie Petit (Adler Colvin): Zone of Insolvency, Bankruptcy, and Debt Restructuring Under...
Stay informed of the week’s notable events and shared resources with this curated list of Nonprofit Tweets of the Week. Notable Events of the Week: “President-elect Joe Biden chose Rep. Deb Haaland (D-N.M.) Thursday to serve as the first Native American Cabinet secretary and head the Interior Department, a...
Stay informed of the week’s notable events and shared resources with this curated list of Nonprofit Tweets of the Week. Notable Events of the Week: “The Food and Drug Administration accelerated its timeline for issuing an emergency authorization for Pfizer’s Covid-19 vaccine after President Trump’s chief of staff, Mark...
The following are some of the highlights from the session on Charitable Purpose in the 21st Century at the 2020 Western Conference on Tax Exempt Organizations (WCTEO): Historical context: Rev. Rul. 71-447: “All charitable trusts, educational or otherwise, are subject to the requirement that the purpose of the trust...
Stay informed of the week’s notable events and shared resources with this curated list of Nonprofit Tweets of the Week. Notable Events of the Week: “Iran’s top nuclear scientist, who American and Israeli intelligence have long charged was behind secret programs to design an atomic warhead, was shot and...
The joint Treasury and IRS 2020-2021 Priority Guidance Plan was published on November 17, 2020. The Plan includes a work list of projects for the 12-month period ending June 30, 2021. The following are some of the key provisions for exempt organizations: Tax Cuts and Jobs Act Regulations on...