Becky Farr to Give Two Nonprofit-Specific Federal Tax Update Presentations Next Month

As changes made under the Tax Cuts and Jobs Act continue to unfold, Leaffer Law Group attorney Becky Farr will present a Federal Tax Update at two events next month. On May 2, she will speak at the Colorado Bar Association’s 28th Annual Institute on Advising Nonprofits, and again to CPAs at the Denver Tax Association’s May meeting on May 15.

These presentations will highlight tax updates of specific importance to nonprofit organizations including tax reform clarifications and proposed regulations recently issued by the IRS such as:

• Changes to the unrelated business income taxation landscape around taxation of fringe benefits, and the “silo” rule regarding different unrelated business activities
• Interpretation of the new excess compensation excise tax that may snag unsuspecting exempt organizations
• The new private university net investment income tax
• Proposed regulations intended to stop states from enacting workarounds to the limitation on SALT deductions
• Implications of increases to the standard deduction

In addition to focusing on these developments, the presentations will also highlight other changes for the nonprofit sector, including donor disclosure requirements for non-501(c)(3) exempt entities, updated applications for seeking recognition of exempt status; and (hopefully) long-awaited clarification in the donor-advised fund area.