Items related to Tax Compliance for Tax-Exempt Organizations 2016
Synopsis
Tax Compliance for Tax-Exempt Organizations provides a detailed analysis of the federal tax laws affecting tax-exempt organizations and the tax treatment of donors to such organizations. It offers expert guidance to tax-exempt organizations and their tax advisors on the tax compliance issues they confront on a daily basis and the preparation of the various tax forms they must file with the IRS. It offers unique insight into four key areas: tax law and the rules that govern compliance; reporting requirements; compliance steps, choices and mechanisms; and accounting. The 2016 Edition of Tax Compliance for Tax-Exempt Organizations has been revised to bring you up to date on the latest developments in this complex and constantly changing area. Chapter 10, regarding charitable contributions, has been extensively rewritten and revised. Section 501(c)(4) organizations may participate in political campaign activities so long as their primary purpose remains the motion of social welfare. The importance of the Citizens United case to federal and state electioneering activities of Section 501(c)(4) organizations is also explained in detail. This becomes of greater importance to readers, since the identities of the contributors to social welfare organizations generally do not have to be disclosed to the general public, whereas the names and addresses of contributors to Section 527 political organizations (political action committee do have to be disclosed under federal tax and election laws. The interplay of the tax and election laws on these important issues is discussed in detail. New Form 1023-EZ was promulgated. We discuss the new Form. We have included new materials regarding the deduction for conservation easements. New final regulations under Section 501(r) of interest to tax-exempt hospitals are discussed in detail. CONTENTS: 1. Introduction to Tax-Exempt Organizations 2. Distinctions Between Private Foundations and Public Charities 3. Organizational and Operational Considerations 4. Private Inurement, Private Benefit, and Intermediate Sanctions 5. Engaging in a Trade or Business and Income from an Unrelated Trade or Business 6. Political and Legislative Activities of Public Charities 7. Private Foundation Excise Taxes 8. Exemption Application Procedures 9. Annual Returns and Disclosure Requirements 10. Charitable Contribution Deduction Requirements and Information for Donors Appendix A: Sample Form 1023 and Accompanying Documents Appendix B: Sample Form 1024 and Accompanying Documents Appendix C: Sample Forms 990, 990-PF, and 990-T Appendix D: Publication 557 Appendix E: Publication 3833
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About the Author
Steven D. Simpson is a of counsel with the law firm of Wyrick Robbins Yates & Ponton LLP in Raleigh, North Carolina. Mr. Simpson is a 1978 graduate of the Wake Forest University School of Law and was awarded a Master of Laws Degree in Taxation from Georgetown University Law Center in 1981. Mr. Simpson has represented many organizations and individuals on a wide variety of tax, corporate, business and estate planning matters and charitable gift planning issues and has particular expertise in the representation of 501(c)(6) trade associations and 501(c)(3) charitable organizations and private foundations. Mr. Simpson has over twenty (20) years of experience in representing all types of tax-exempt organizations. Mr. Simpson is admitted to the bars of North Carolina, Florida and the District of Columbia and is admitted to practice before the United States Supreme Court as well as numerous federal courts of appeal and district courts. Health care organizations have been a particular focus of Mr. Simpson's practice. He has counseled many hospitals on a wide range of matters, including physician recruitment, incentive compensation, reimbursement, self-referral issues, medical staff relationships, corporate reorganization and purchases and sales of hospital assets. Mr. Simpson has been active in the American Bar Association's Exempt Organizations Committee, as well as in the North Carolina Bar Association's Health Law Section as a past member of the Executive Council. He is a member of the American Society of Association Executives and the Association Executives of North Carolina, among several other professional organizations, and is listed in The Best Lawyers in America under tax law. He has received the A-V rating from Martindale-Hubbell and is listed in the Bar Register of Preeminent Lawyers. Mr. Simpson is the author of Multistate Guide to Regulation and Taxation of Nonprofits, published by CCH. He is also the author of Tax-Exempt Organizations: Organizational and Operational Requirements, Tax Management Portfolio No. 869, Tax-Exempt Organizations: Reporting, Disclosure and Other Procedural Aspects, Tax Management Portfolio No. 870-2d, and Private Foundations: Taxable Expenditures, Tax Management Portfolio No. 882, all published by Tax Management, Inc., a subsidiary of the Bureau of National Affairs.
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- PublisherCch Inc
- Publication date2016
- ISBN 10 0808044214
- ISBN 13 9780808044215
- BindingPaperback
- Number of pages1024
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