Showing posts with label nonprofit. Show all posts
Showing posts with label nonprofit. Show all posts
Thursday, December 30, 2021

Seeking Tax Exempt Status By Lessening The Burden Of Government

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Let’s introduce Captain Obvious: if you want charitable tax-exempt status from the IRS, you need to have a charitable purpose. Let’s look ...
Sunday, August 29, 2021

Abusing A Tax-Exempt

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I am looking at a tax-exempt case that went off the rails. There are rules in the tax-exempt area to encourage one to keep their nose clea...
Sunday, June 27, 2021

IRS Rejects A Religious Organization’s Tax-Exempt Application

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  We have a nonprofit application for exempt status that has gone off the rails.    The reviewing (IRS) officer wanted them, for example, ...
Monday, October 26, 2020

No Shareholder, No S Corporation Election

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  Our case this time takes us to Louisville. There is a nonprofit called the Waterfront Development Corporation (WDC). It has existed sinc...
Saturday, October 3, 2020

Losing A Tax Exemption

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The taxation of tax-exempts can sometimes be tricky. The reason is that a tax-exempt can – depending on the facts – owe income tax. This t...
Sunday, February 9, 2020

Marijuana And Tax-Exempt Status

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I am not surprised. I am looking at a Private Letter Ruling on a tax -exempt application for an entity involved with marijuana and CBD...
Sunday, January 20, 2019

The Nick Saban Tax

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Have you heard about the “Nick Saban” tax? Let’s set it up. There has been a longstanding tax provision limiting the deduction...