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Private Foundations and Impact Investing

November 30, 2016

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Bryan Cave recently organized a half-day symposium examining the opportunities and legal considerations related to responsible and impact investing strategies. The Responsible and Impact Investing Symposium, held on November 10, was co-presented by Fordham University’s Gabelli School of Business and featured leaders in this growing field who discussed opportunities and legal considerations for investors, private foundations, financial advisers and for-profit entities, from start-ups to established ventures. More than 135 guests attended the event.  With respect to private foundations, we focused our discussion on the use of program related investments and what we hope is a growing trend to use these tax-advantaged tools to make a difference in our communities.   Below are the foundation slides from the event.  Special thanks to my co-speakers, John Oddy from Foundation Source and Dana Bezerra from the Heron Foundation.

For a complete list of speakers and the program agenda, please click here

For additional

TE/GE Announces New Information Document Request Management Process

November 22, 2016

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The Tax Exempt and Government Entities Division of the Internal Revenue Service has issued new internal guidance for its agents on issuing information document requests (IDRs). The IRS issues IDRs to gather information during an examination. The new process will go into effect on April 1, 2017. Prior to its implementation, TE/GE will provide training to its agents on the new process.

Under the new process:

  • Taxpayers will be involved in the IDR process.
  • Examiners will discuss the issue being examined and the information needed with the taxpayer prior to issuing an IDR.
  • Examiners will ensure that the IDR clearly states the issue and the relevant information they are requesting.
  • If the taxpayer does not timely provide the information requested in the IDR by the agreed upon date, including extensions, the examiner will issue a delinquency notice.
  • If the taxpayer fails to respond to the delinquency notice or provides an