Tax Planning and Compliance for Tax-Exempt Organizations - Rules, Checklists, Procedures, 2019 Cumulative Supplement

An essential, timesaving guide for accountants, lawyers, nonprofit executives and directors, consultants, and volunteers
 
This book is an indispensable guide to navigating the complex maze of nonprofit tax rules and regulations. A clear and fully cited description of the requirements for the various categories of tax-exempt entities from public charities, private foundations, civic associations, business leagues, and social clubs to title-holding companies and governmental entities can be found. Practical guidance on potential for income tax on revenue-producing enterprises along with explanations of many exceptions to taxability is provided. Issues raised by Internet activity, advertising, publishing, providing services, and much more are explained.
 
This useful guide covers the many significant issues facing nonprofit organizations, including compensation and possible private inurement, affiliation, separations and mergers, donor disclosures, lobbying and electioneering, and employment taxes.
* Offers a supplemental, annual update to keep subscribers current on relevant changes in IRS forms, requirements, and related tax procedures
* Includes easy-to-use checklists highlighting such critical concerns as tax-exempt eligibility, reporting to the IRS, and comprehensive tax compliance issues
* Features a variety of sample documents for private foundations, including penalty abatement requests and sharing space agreements
* Provides helpful practice aids, such as a comparison of the differences between public and private charities, charts reflecting lobbying limits for different types of entities, and listings of rulings and cases that illustrate permissible activity for each type of organizations compared to impermissible activity
 
Filled with practical tips and suggestions for handling such critical situations as preparing for and surviving an IRS examination, Tax Planning and Compliance for Tax-Exempt Organizations, Fifth Edition provides guidance for the significant issues facing nonprofit organizations.

Table des matières

Preface ix
 
Part I Qualifications of Tax-Exempt Organizations 1
 
Chapter 2 Qualifying Under IRC 501(c)(3) 3
 
2.1 Organizational Test 3
 
2.2 Operational Test 4
 
Chapter 4 Charitable Organizations 7
 
4.1 Relief of the Poor 7
 
4.2 Promotion of Social Welfare 7
 
4.3 Lessening Burdens of Government 8
 
4.6 Promotion of Health 9
 
Chapter 5 Educational, Scientific, and Literary Purposes, and Prevention of Cruelty to Children and Animals 21
 
5.1 Educational Purposes 21
 
5.4 Testing for Public Safety 22
 
Chapter 6 Civic Leagues and Local Associations of Employees: 501(c)(4) 23
 
6.1 Comparison of (c)(3) and (c)(4) Organizations 23
 
6.2 Qualifying and Nonqualifying Civic Organizations 25
 
6.4 Neighborhood and Homeowner's Associations 27
 
6.5 Disclosures of Nondeductibility 27
 
Chapter 7 Labor, Agricultural, and Horticultural Organizations: 501(c)(5) 29
 
7.2 Agricultural Groups 29
 
7.4 Disclosure of Nondeductibility 29
 
Chapter 8 Business Leagues: 501(c)(6) 31
 
8.2 Meaning of "Common Business Interest" 31
 
8.3 Line of Business 31
 
8.4 Rendering Services for Members 32
 
Chapter 9 Social Clubs: 501(c)(7) 35
 
9.1 Organizational Requirements and Characteristics 35
 
9.3 Membership Requirements 36
 
9.4 Revenue Tests 37
 
9.5 Unrelated Business Income Tax 37
 
Chapter 10 Instrumentalities of Government and Title-Holding Organizations 39
 
10.2 Governmental Units 39
 
10.3 Qualifying for 501(c)(3) Status 40
 
Chapter 11 Public Charities 43
 
11.1 Distinction between Public and Private Charities 43
 
11.2 "Inherently Public Activity" and Broad Public Support: 509(a)(1) 43
 
11.3 Community Foundations 47
 
11.6 Supporting Organizations: 509(a)(3) 51
 
Part II Standards for Private Foundations 63
 
Chapter 12 Private Foundations--General Concepts 65
 
12.2 Special Rules Pertaining to Private Foundations 65
 
12.4 Termination of Private Foundation Status 66
 
Chapter 13 Excise Tax Based on Investment Income: IRC 4940 73
 
13.1 Formula for Taxable Income 73
 
13.2 Capital Gains 74
 
13.2A Tax on Private Colleges and Universities 76
 
Chapter 14 Self-Dealing: IRC 4941 77
 
14.1 Definition of Self-Dealing 78
 
14.2 Sale, Exchange, or Lease of Property 78
 
14.3 Loans 81
 
14.4 Compensation 82
 
14.5 Transactions That Benefit Disqualified Persons 83
 
14.7 Sharing Space, People, and Expenses with Family Office 85
 
14.8 Indirect Deals 87
 
14.9 Property Held by Fiduciaries 87
 
14.10 Issues Once Self-Dealing Occurs 88
 
Chapter 15 Minimum Distribution Requirements: IRC 4942 89
 
15.1 Assets Used to Calculate Minimum Investment Return 89
 
15.2 Measuring Fair Market Value 90
 
15.4 Qualifying Distributions 91
 
15.6 Satisfying the Distribution Test 101
 
Chapter 16 Excess Business Holdings and Jeopardizing Investments: IRC
4943 and 4944 105
 
16.1 Excess Business Holdings 105
 
16.2 Jeopardizing Investments 108
 
16.3 Program-Related Investments 109
 
16.4 Penalty Taxes 111
 
Chapter 17 Taxable Expenditures: IRC 4945 113
 
17.1 Lobbying 113
 
17.3 Grants to Individuals 114
 
17.4 Grants to Public Charities 125
 
17.5 Grants to Foreign Organizations 132
 
17.8 Excise Taxes Payable 133
 
Part III Obtaining and Maintaining Tax-Exempt Status 157
 

A propos de l'auteur

JODY BLAZEK is a partner in Blazek & Vetterling, a CPA firm focusing on tax and financial planning for exempt organizations and the individuals who create, fund, and work with them and is recognized as a leading accountant in the field.

Résumé

An essential, timesaving guide for accountants, lawyers, nonprofit executives and directors, consultants, and volunteers

This book is an indispensable guide to navigating the complex maze of nonprofit tax rules and regulations. A clear and fully cited description of the requirements for the various categories of tax-exempt entities from public charities, private foundations, civic associations, business leagues, and social clubs to title-holding companies and governmental entities can be found. Practical guidance on potential for income tax on revenue-producing enterprises along with explanations of many exceptions to taxability is provided. Issues raised by Internet activity, advertising, publishing, providing services, and much more are explained.

This useful guide covers the many significant issues facing nonprofit organizations, including compensation and possible private inurement, affiliation, separations and mergers, donor disclosures, lobbying and electioneering, and employment taxes.
* Offers a supplemental, annual update to keep subscribers current on relevant changes in IRS forms, requirements, and related tax procedures
* Includes easy-to-use checklists highlighting such critical concerns as tax-exempt eligibility, reporting to the IRS, and comprehensive tax compliance issues
* Features a variety of sample documents for private foundations, including penalty abatement requests and sharing space agreements
* Provides helpful practice aids, such as a comparison of the differences between public and private charities, charts reflecting lobbying limits for different types of entities, and listings of rulings and cases that illustrate permissible activity for each type of organizations compared to impermissible activity

Filled with practical tips and suggestions for handling such critical situations as preparing for and surviving an IRS examination, Tax Planning and Compliance for Tax-Exempt Organizations, Fifth Edition provides guidance for the significant issues facing nonprofit organizations.

Détails du produit

• Auteurs: J Blazek, Jody Blazek, Jody (Blazek Blazek, Blazek Jody
• Edition: Wiley, John and Sons Ltd
• Langues: Anglais
• Format d'édition: Livre de poche
• Sortie: 30.04.2019
• EAN: 9781119538196
• ISBN: 978-1-119-53819-6
• Pages: 272
• Thèmes: Wiley Nonprofit Authority; Wiley Nonprofit Authority
• Catégories: Sciences sociales, droit, économie > Economie > Economie privée; Business & management, Gemeinnützige Organisation, Taxation and duties law, Public finance and taxation, Wirtschaft u. Management, Gemeinnützige Organisationen / Finanz- u. Rechnungswesen, Non-Profit Organizations / Finance & Accounting