The Tax Court Denies Yet Another Multi-Million Dollar Deduction for Failure to Strictly Comply With Substantiation Requirements If the IRS…
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We strive to keep our clients and the nonprofit community informed of important legal matters impacting their organizations. Here you’ll find in-depth articles, news briefs on current events important to nonprofits, and case studies, as well as material from our many speaking engagements and professional articles published in Colorado and across the country.
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IRS Releases 2025 Draft of Employer’s Tax Guide to Fringe Benefits
The IRS released a draft of its 2025 Publication 15-B Employer’s Tax Guide to Fringe Benefits, which contains among other…
READ MORE New Anti-Terrorism Legislation Affecting Exempt Organizations Fast-Tracked
UPDATE 11/21/24 – The Stop Terror-Financing and Tax Penalties on American Hostages Act has passed the House with a vote…
READ MORE New Donor Advised Fund Regulations Bring Congressional Republicans and Democrats Together
Just when it looked like nothing could bring together Congressional Republicans and Democrats in any meaningful bipartisan effort, the IRS…
READ MORE Colorado Gives Day Is Here
Colorado Gives Day, an initiative to increase philanthropy in Colorado through online giving, is here again. Since 2010 Colorado Gives…
READ MORE Athletic Booster Clubs Must Not Maintain Separate Accounts for Athletes
The IRS has issued (yet) another adverse determination for an exempt Section 501(c)(3) youth athletic booster club for private inurement…
READ MORE Donations of Sick or Vacation Time to Aid Victims of the Maui Wildfires Get Favorable Tax Treatment
In the wake of the fires that devastated Maui, the IRS issued Notice 2023-181 to explain the application of the…
READ MORE Grant Program for Black Women Entrepreneurs Put On Hold By 11th Circuit Injunction
The 11th Circuit Court of Appeals issued an injunction to prevent a tax-exempt organization’s grant program from issuing grants to…
READ MORE Donations of Closely-Held Stock Prior to a Change In Control – The Key to a Double Tax Benefit Is Careful Planning
When structured carefully, a donor can obtain a double tax benefit from the donation of appreciated closely-held stock to a…
READ MORE Donors Denied Millions in Charitable Deductions for Failure to Meet Substantiation Requirements
Two recent cases have come down from the Tax Court denying taxpayers deductions for their charitable donations – again emphasizing…
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