When structured carefully, a donor can obtain a double tax benefit from the donation of appreciated closely-held stock to a…
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Nonprofit Law Blog
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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IRS Issues New Guidance on Substantiation Requirements for Charitable Contributions of Cryptocurrency
In keeping with the IRS’s previous rulings in the area of cryptocurrency, the IRS issued Office of Chief Counsel Memorandum…
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Colorado Gives Day Is Here!
Colorado Gives Day, an initiative to increase philanthropy in Colorado through online giving, is here again. Since 2007 the Community…
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Department of Labor Proposes Repeal of Independent Contractor Rule
The question of whether a worker is an employee or independent contractor is in the news again, this time with an…
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State & Local Tax Deduction Cap Depresses Charitable Giving By Wealthy
A newly released report shows that the current cap on deducting state and local taxes appears to be reducing charitable…
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Biden Revives Push to Limit Private Foundation Use of DAFs
President Biden has proposed in his fiscal year 2023 budget to clamp down on the ability of private foundations to…
READ MORE ‘Tis the Season: Non-Itemizing Taxpayers Reminded of Expanded Deduction for Cash Donations
In light of the recent disasters across the Midwest, the IRS, Independent Sector and the National Council of Nonprofits issued…
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Colorado Gives Day: Get in on Supporting Colorado Nonprofits!
Tuesday December 7th is Colorado Gives Day, an initiative to increase philanthropy in Colorado through online giving. Since the initiative…
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TE/GE Outlines Priority Issues for FY 2022
The TE/GE operating division of the IRS earlier this month released its Fiscal Year 2022 program letter, which outlines priorities…
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