Tax Planning and Compliance for Tax-Exempt Organizations, Fifth Edition 2019 Cumulative Supplement, 5th Edition

Tax Planning and Compliance for Tax-Exempt Organizations, Fifth Edition 2019 Cumulative Supplement, 5th Edition

by Jody Blazek
Released March 2019
Publisher(s): Wiley
ISBN: 9781119538196

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Book description

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 of contents

  1. Cover
  2. Preface
  3. PART I: Qualifications of Tax‐Exempt Organizations
    1. CHAPTER 2: Qualifying Under IRC § 501(c)(3)
      1. § 2.1 Organizational Test
      2. *§ 2.2 Operational Test
      3. Notes
    2. CHAPTER 4: Charitable Organizations
      1. *§ 4.1 Relief of the Poor
      2. § 4.2 Promotion of Social Welfare
      3. § 4.3 Lessening Burdens of Government
      4. § 4.6 Promotion of Health
      5. Notes
    3. CHAPTER 5: Educational, Scientific, and Literary Purposes, and Prevention of Cruelty to Children and Animals
      1. § 5.1 Educational Purposes
      2. § 5.4 Testing for Public Safety
      3. Notes
    4. CHAPTER 6: Civic Leagues and Local Associations of Employees: § 501(c)(4)
      1. *§ 6.1 Comparison of (c)(3) and (c)(4) Organizations
      2. *§ 6.2 Qualifying and Nonqualifying Civic Organizations
      3. § 6.4 Neighborhood and Homeowner's Associations
      4. § 6.5 Disclosures of Nondeductibility
      5. Notes
    5. CHAPTER 7: Labor, Agricultural, and Horticultural Organizations: § 501(c)(5)
      1. § 7.2 Agricultural Groups
      2. *§ 7.4 Disclosure of Nondeductibility
    6. CHAPTER 8: Business Leagues: § 501(c)(6)
      1. § 8.2 Meaning of “Common Business Interest”
      2. § 8.3 Line of Business
      3. *§ 8.4 Rendering Services for Members
      4. Notes
    7. CHAPTER 9: Social Clubs: § 501(c)(7)
      1. *§ 9.1 Organizational Requirements and Characteristics
      2. § 9.3 Membership Requirements
      3. § 9.4 Revenue Tests
      4. § 9.5 Unrelated Business Income Tax
      5. Notes
    8. CHAPTER 10: Instrumentalities of Government and Title‐Holding Organizations
      1. § 10.2 Governmental Units
      2. *§ 10.3 Qualifying for § 501(c)(3) Status
      3. Notes
    9. CHAPTER 11: Public Charities
      1. § 11.1 Distinction between Public and Private Charities
      2. § 11.2 “Inherently Public Activity” and Broad Public Support: § 509(a)(1)
      3. *§ 11.3 Community Foundations
      4. *§ 11.6 Supporting Organizations: § 509(a)(3)
      5. Notes
  4. PART II: Standards for Private Foundations
    1. CHAPTER 12: Private Foundations—General Concepts
      1. *§ 12.2 Special Rules Pertaining to Private Foundations
      2. § 12.4 Termination of Private Foundation Status
      3. Notes
    2. CHAPTER 13: Excise Tax Based on Investment Income: IRC § 4940
      1. *§ 13.1 Formula for Taxable Income
      2. *§ 13.2 Capital Gains
      3. *§ 13.2A Tax on Private Colleges and Universities
      4. Notes
    3. CHAPTER 14: Self‐Dealing: IRC § 4941
      1. *§ 14.1 Definition of Self‐Dealing
      2. *§ 14.2 Sale, Exchange, or Lease of Property
      3. § 14.3 Loans
      4. *§ 14.4 Compensation
      5. *§ 14.5 Transactions That Benefit Disqualified Persons
      6. *§ 14.7 Sharing Space, People, and Expenses with Family Office
      7. *§ 14.8 Indirect Deals
      8. § 14.9 Property Held by Fiduciaries
      9. § 14.10 Issues Once Self‐Dealing Occurs
      10. Notes
    4. CHAPTER 15: Minimum Distribution Requirements: IRC § 4942
      1. § 15.1 Assets Used to Calculate Minimum Investment Return
      2. *§ 15.2 Measuring Fair Market Value
      3. *§ 15.4 Qualifying Distributions
      4. § 15.6 Satisfying the Distribution Test
      5. Notes
    5. CHAPTER 16: Excess Business Holdings and Jeopardizing Investments: IRC §§ 4943 and 4944
      1. *§ 16.1 Excess Business Holdings
      2. § 16.2 Jeopardizing Investments
      3. *§ 16.3 Program‐Related Investments
      4. § 16.4 Penalty Taxes
      5. Notes
    6. CHAPTER 17: Taxable Expenditures: IRC § 4945
      1. § 17.1 Lobbying
      2. *§ 17.3 Grants to Individuals
      3. *§ 17.4 Grants to Public Charities
      4. § 17.5 Grants to Foreign Organizations
      5. § 17.8 Excise Taxes Payable
      6. Notes
  5. PART III: Obtaining and Maintaining Tax‐Exempt Status
    1. CHAPTER 18: IRS Filings, Procedures, and Policies
      1. *§ 18.1 IRS Determination Process
      2. *§ 18.2 Annual Filing of Forms 990
      3. *§ 18.3 Reporting Organizational Changes to the IRS
      4. § 18.4 Weathering an IRS Examination
      5. § 18.5 When an Organization Loses Its Tax-Exempt Status
      6. Notes
    2. CHAPTER 19: Maintaining Exempt Status
      1. § 19.1 Checklists
    3. CHAPTER 20: Private Inurement and Intermediate Sanctions
      1. § 20.1 Defining Inurement
      2. § 20.2 Salaries and Other Compensation
      3. § 20.4 Finding Salary Statistics
      4. § 20.8 Services Rendered for Individuals
      5. *§ 20.10 Intermediate Sanctions
      6. Notes
    4. CHAPTER 21: Unrelated Business Income
      1. § 21.1 IRS Scrutiny of Unrelated Business Income
      2. *§ 21.4 Definition of Trade or Business
      3. § 21.5 What Is Unrelated Business Income?
      4. *§ 21.7 “Substantially Related”
      5. *§ 21.8 Unrelated Activities
      6. § 21.10 Income Modifications
      7. *§ 21.11 Calculating and Minimizing Taxable Income
      8. § 21.12 Debt‐Financed Property
      9. § 21.13 Museums
      10. § 21.15 Publishing
      11. Notes
    5. CHAPTER 23: Electioneering and Lobbying
      1. § 23.1 Election Campaign Involvement
      2. § 23.2 Voter Education versus Candidate Promotion
      3. Notes
    6. CHAPTER 24: Deductibility and Disclosures
      1. § 24.1 Overview of Deductibility
      2. *§ 24.2 Substantiation and Quid Pro Quo Rules
      3. Notes
    7. CHAPTER 25: Employment Taxes
      1. § 25.2 Ministers
      2. Notes
  6. Index
  7. End User License Agreement

Product information

  • Title: Tax Planning and Compliance for Tax-Exempt Organizations, Fifth Edition 2019 Cumulative Supplement, 5th Edition
  • Author(s): Jody Blazek
  • Release date: March 2019
  • Publisher(s): Wiley
  • ISBN: 9781119538196