The Not For Profit/Exempt Organizations Blog, published by Proskauer Rose LLP, focuses on legal developments affecting nonprofit and tax-exempt entities. It covers topics such as compliance with diversity, equity, and inclusion (DEI) regulations, tax law changes impacting charitable organizations, unrelated business taxable income (UBTI) issues, and litigation involving nonprofit status and exemptions. The blog also addresses regulatory updates, governance challenges, and operational considerations for nonprofits, including healthcare providers and educational institutions. It provides analysis of court decisions, legislative proposals, and administrative guidance relevant to exempt organizations and their tax treatment.
On December 31, 2018, the Department of the Treasury (“Treasury”) and the Internal Revenue Service (the “IRS”) released Notice 2019-09 (the “Notice”), which provides interim guidance under Section 4960 of the Internal Revenue Code.
Very generally, Section 4960 imposes a…
December 10, 2018 saw significant activity with respect to Section 512(a)(7) of the Internal Revenue Code (the “Code”), which requires tax-exempt employers to increase their unrelated business taxable income (“UBTI”) by amounts paid or incurred for qualified transportation fringe benefits…
Last week, the IRS released Notice 2018-95 to provide transition relief to 403(b) plans that improperly excluded certain employees. Specifically, Notice 2018-95 targets employers that may have erroneously excluded part-time employees from eligibility to make elective deferral when the employees…
Proskauer’s 23rd Annual Trick or Treat Seminar was held on Wednesday, October 31.
The Seminar discussed:
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On August 21, 2018, the Internal Revenue Service (“IRS”) released Notice 2018-67 (the “Notice”), addressing issues relevant to tax-exempt organizations arising under new Section 512(a)(6) of the Internal Revenue Code (the “Code”), promulgated pursuant to the 2017 U.S. tax legislation…
On February 23rd, the IRS issued a memorandum to its examiners instructing them not to challenge a 403(b) plan for failing to satisfy the required minimum distribution (“RMD”) rules with respect to missing participants or beneficiaries if the plan sponsor…
Early on December 2, 2017, the Senate passed the Tax Cuts and Jobs Act (the “Senate Bill”). This blog entry describes certain provisions of the Senate Bill that would have the most significant impact on the nonprofit community, including important…
Proskauer’s 22nd Annual Trick or Treat Seminar was held on Tuesday, October 31.
The Seminar discussed:
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Over the last several days, there have been significant developments relating to the Tax Cuts and Jobs Act, the pending tax reform legislation in Congress.[1] On Thursday, a detailed summary of the Senate Finance Committee’s proposal was released (the…
House Republican Tax Bill Imposes Excise Tax on Wealthy Private Universities and Excess Compensation of Highly Paid Employees; Subjects State Pension Plans to UBTI Rules
On Thursday, November 2, House Republicans led by Speaker Paul Brady (R-WI) and Chairman of…
