Tax Planning and Compliance for Tax-Exempt Organizations
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Jody Blazek. Tax Planning and Compliance for Tax-Exempt Organizations
tax planning and compliance for tax-exempt organizations
Table of Contents
Guide
Pages
Preface
PART I Qualifications of Tax‐Exempt Organizations
CHAPTER 1 Distinguishing Characteristics of Tax‐Exempt Organizations
§ 1.8 Developments Responding to COVID‐19
(a) CARES and SECURE Acts
IRS unveils new People First Initiative; COVID‐19 effort temporarily adjusts, suspends key compliance program
(b) IRS Delays in Tax Payment and Return Due Dates
Notes
CHAPTER 2 Qualifying Under IRC § 501(c)(3)
§ 2.2 Operational Test (a) Charitable Class
IRS Private Letter Ruling Number: 202021025
Issues
Facts
Law
Application of Law
Conclusion
Notes
CHAPTER 3 Religious Organizations
§ 3.2 Churches (b) Definition of Church
Notes
CHAPTER 4 Charitable Organizations
§ 4.1 Relief of the Poor
§ 4.3 Lessening the Burdens of Government
§ 4.5 Advancement of Education and Science
Conclusion
§ 4.6 Promotion of Health (j) § 501(r) Requirements for Hospitals
Notes
CHAPTER 5 Educational, Scientific, and Literary Purposes and Prevention of Cruelty to Children and Animals
§ 5.1 Educational Purposes
CHAPTER 6 Civic Leagues and Local Associations of Employees: § 501(c)(4)
§6.2 Qualifying and Nonqualifying Civic Organizations (a) Limitation on Involvement with Political Candidates
Notes
CHAPTER 9 Social Clubs: § 501(c)(7)
§ 9.4 Revenue Tests (a) 35/15 Test
Note
CHAPTER 11 Public Charities
§ 11.2“Inherently Public Activity” and Broad Public Support: § 509(a)(1) (h) Unusual Grants
§ 11.5Difference Between § 509(a)(1) and § 509(a)(2) (e) Change of Public Charity Category
Notes
PART II Standards for Private Foundations
CHAPTER 12 Private Foundations—General Concepts
§ 12.4 Termination of Private Foundation Status (e) Mergers, Split‐Ups, and Transfers Between Foundations
(h) Notifying the IRS
Note
CHAPTER 14 Self‐Dealing: IRC § 4941
§ 14.2 Sale, Exchange, or Lease of Property (d) Co‐owned Property
§ 14.5 Transactions That Benefit Disqualified Persons
Notes
CHAPTER 15 Minimum Distribution Requirements: IRC § 4942
§ 15.1 Assets Used to Calculate Minimum Investment Return (c) Exempt Function Assets
§ 15.2 Measuring Fair Market Value (e) Cash and Other Assets
§ 15.4 Qualifying Distributions (a) Direct Grants
(f) Direct Charitable Expenditures
(g) Set‐Asides
Notes
CHAPTER 16 Excess Business Holdings and Jeopardizing Investments: IRC §§ 4943 and 4944
§ 16.1 Excess Business Holdings (d) Constructive Ownership
§ 16.2 Jeopardizing Investments
Note
CHAPTER 17 Taxable Expenditures: IRC § 4945
§ 17.3 Grants to Individuals (a) Meaning of “Travel, Study, or Other Purposes”
Examples of Awards Approved. Example 1
Example 2
Example 3
§ 17.4 Grants to Public Charities
Notes
PART III Obtaining and Maintaining Tax‐Exempt Status
CHAPTER 18 IRS Filings, Procedures, and Policies
§ 18.1 IRS Determination Process
(a) Successful Application for Exemption
LAW
APPLICATION OF LAW
(d) Group Exemptions
EXHIBIT 18.1. Are You Ready to Start a Nonprofit Organization?
EXHIBIT 18.2. Guidelines for New Nonprofits
§ 18.2 Annual Filing of Form 990
§ 18.4 Weathering an IRS Examination (a) Examination Methods
(g) Examinations Regarding Easement Valuation
Notes
CHAPTER 19 Maintaining Exempt Status
§ 19.1 Checklists
EXHIBIT 19.13. Private Foundation Compliance Rules
EXHIBIT 19.14. PRE‐GRANT INQUIRY
EXHIBIT 19.15. Expenditure Responsibility Control Checklist
EXHIBIT 19.16. Blazek & Vetterling
CHAPTER 20 Private Inurement and Intermediate Sanctions
§ 20.11 New § 4960 Excise Tax on Excess Compensation
Notes
CHAPTER 21 Unrelated Business Income
§ 21.4 Definition of Trade or Business
§ 21.8 Unrelated Activities (b) Services
§ 21.10 Income Modifications (d) Royalties
§ 21.11 Calculating and Minimizing Taxable Income
Notes
CHAPTER 23 Electioneering and Lobbying
§ 23.3 Tax on Political Expenditures (e) IRS Guidance on Political Activity
Note
CHAPTER 24 Deductibility and Disclosures
§ 24.1 Overview of Deductibility (b) Limitations on Deductions
§ 24.2 The Substantiation and Quid Pro Quo Rules
§ 24.3 Valuing Donor Benefits
Notes
CHAPTER 25 Employment Taxes
§ 25.1 Distinctions Between Employees and Independent Contractors (c) Employee Benefits
(f) CARES Act Clarification
PAYROLL TAXES
BUSINESS LOSS AND DEDUCTION LIMITATION MODIFICATIONS
INDIVIDUAL REFUNDABLE CREDIT
EARLY RETIREMENT PLAN DISTRIBUTIONS
WAIVER OF MINIMUM DISTRIBUTION
CHARITABLE CONTRIBUTIONS DEDUCTIONS
EMPLOYER PAYMENTS OF STUDENT LOANS
Note
Index
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