Recent Articles

New Streamlined IRS Online Search Tool Makes it Easier to Find Information about Tax-Exempt Organizations, Including Whether an Organization Has Ever Been Subject to Automatic Revocation of its Tax-Exempt Status

March 19, 2012 16:29

          The IRS recently unveiled its new streamlined online search tool, Exempt Organizations Select Check (“EO Select Check”), which provides one place where taxpayers can go to find out: (1) whether an organization is eligible to receive...

New York Attorney General Announces Plan to "Unlock the Full Potential" of Not-For-Profit Organizations

February 17, 2012 20:26

February 16, 2012 - Attorney General Eric Schneiderman has announced a new reform plan to reduce the regulatory burden on New York not-for-profit organizations while strengthening their governance and accountability. The Attorney General's comprehensive plan distinguishes itself from recent...

Stealth Can Be Good: New Procedure Allows Governmental Entities to Relinquish Section 501(c)(3) Tax-exempt Status

January 05, 2012 21:48

A new provision which was slipped in to the annual announcement of procedures for exempt organization determinations and letter rulings provides a way for governmental entities to voluntarily terminate their Section 501(c)(3) status. This is important for governmental hospitals that...

IRS Extends Filing Deadline for Certain Tax-Exempt Organizations

December 20, 2011 12:30

The IRS has granted an automatic extension for certain tax-exempt organizations to file their annual returns electronically. The extension is being provided because the IRS’s electronic filing system (the “Modernized eFile system” or “MeF”) will not be available...

Treasury Releases Long-Overdue Report on Supporting Organizations and Donor Advised Funds

December 09, 2011 18:37

Along with making significant changes to the rules for supporting organizations (“SOs”) and donor advised funds (“DAFs”) in the Pension Protection Act of 2006 (the “PPA”), Congress directed that Treasury conduct a study on the organization and operation of SOs...

Recaps from Proskauer's 16th Annual Trick or Treat Tax Exempt Seminar

Jacob I. Friedman
November 04, 2011 17:07

Proskauer’s 16th Annual Trick or Treat Seminar was held on Monday, October 31, 2011.  The Seminar discussed: Corporate Governance for Not-for-Profit/Exempt Organizations Maintaining Tax-Exempt Status During Election Season Investment Management under UPMIFA: What’s...

Recent Changes in Delaware Law Governing Not-for-Profit Corporations

October 05, 2011 16:49

             Incorporating under Delaware law can be an attractive option for a not-for-profit organization because Delaware law often grants greater flexibility with respect to the governance and structuring of the...

IRS Tutorial Explains the Special Rules for International Activities of U.S. Charities

Jacob I. Friedman
October 03, 2011 00:00

The IRS presents webinars on a variety of subjects.  In August, the IRS presented a webinar conducted by two IRS representatives on the special rules affecting charities that make grants to foreign organizations or engage in activities in foreign countries. In a fairly comprehensive course,...

Treasury Releases its Priority Plan and the Form 990 Implementation Regulations

Jacob I. Friedman
September 13, 2011 13:15

Treasury just released the 2011—2012 Priority Guidance Plan. The Plan lists 317 projects that are priorities for Treasury resources through June 2012. Included in these projects are 13 projects directly related to Exempt Organizations. Many of the other projects such as the 66 employee...

New Form 8940 for Miscellaneous Exempt Organizations Determination Requests

August 15, 2011 02:39

 The IRS released a new form last week for tax-exempt organizations to request determinations about their tax-exempt status (other than an initial application for exemption). There was previously no form for making such requests. The one-page Form 8940 , Request for Miscellaneous...