BCLP Charity Law

Charity Law

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Information on fake charities; Revisions to Form 8976 registration system; Update to Revenue Procedure 75-50

June 27, 2019

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Beware of fake charities IRS cautions taxpayers on scams involving disasters, charitable causes andencourages taxpayers to donate to recognized charities to help disaster victims. IRS’ annual “Dirty Dozen” also lists a variety of common scams taxpayers may encounter.

Understanding Disaster Relief Tax Law and Contribution Deductibility The IRS offers two courses – Disaster Relief – Parts 1 and II – for charitable organizations providing disaster relief. Topics include how charities may provide disaster relief, deductibility of contributions and tax treatment of relief recipients. Organization leadership and volunteers should review the Tax-Exempt Organization Workshop that includes important information on the benefits, limitations and expectations of tax-exempt organizations.

Revisions made to IRS Online Registration System for 501(c)(4) Certification Organizations required to submit Form 8976, Notice of Intent to Operate Under Section 501(c)(4), will notice a new look and improved navigation at the Online Registration System for 501(c)(4)

Form 990-T Fiscal Year 2017 Corporate Filers Apply Blended Rate to Unrelated Business Taxable Income (UBTI) for Entire Taxable Year

June 7, 2019

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The IRS reminds Form 990-T Corporate Filers of new tax law provisions that could affect the tax rate applicable to their UBTI. Specifically, fiscal 2017 corporate filers should apply a blended rate to their UBTI for the entire 2017 taxable year, including any UBTI from amounts paid or incurred after December 31, 2017 that increase UBTI under new Section 512(a)(7).

The Tax Cuts and Jobs Act (TCJA) introduced a flat 21 percent corporate tax rate for tax years beginning after December 31, 2017. However, corporations with fiscal tax years beginning in 2017 and ending in 2018 calculate their tax by blending the rates in effect before 2018 with the rate in effect after 2017. An exempt organization that’s a corporation with a 2017 fiscal year calculates its tax liability by applying the pre-2018 rate and the post-2017 rate to the corporation’s taxable income for the entire tax year. It prorates

Statistician, revenue agent, and tax examining technician opportunities at the IRS, Tax Exempt & Government Entities

May 28, 2019

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The IRS Tax Exempt & Government Entities Division (TE/GE) has a wide range of job opportunities available. Apply today to become part of our team and help us oversee a vital part of the nation’s tax system.

  • Apply today to become a Statistician. As a Statistician you’ll design, develop, and implement statistical projects, studies and proposals that affect IRS programs and policies.Statistician (Compliance, Planning and Classification) Multiple Locations This job is open 05/23/2019 to 05/28/2019

    Statistician (Compliance, Planning and Classification) Multiple Locations This job is open 05/23/2019 to 05/31/2019

  • TE/GE has many revenue agent positions available across the country for the Exempt Organizations and Employee Plansprograms. As a revenue agent you will use your professional knowledge and skills in accounting, and auditing techniques and practices to examine tax returns and determine the correct tax liability.Internal Revenue Agent (Exempt Organizations) Multiple Locations This job is open 01/30/2019 to
  • Clarification to EO Update issued May 6, 2019

    May 7, 2019

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    “Issue 1” in yesterday’s EO Update stated that organizations should report their correct organization type. The IRS wishes to clarify that the intent of this tip was to remind filers to accurately and fully complete information about their public charity status on Schedule A. As indicated in the instructions to Schedule A, the public charity status an organization indicates on Schedule A can be the same as stated in the organization’s tax-exempt determination letter from the IRS (“exemption letter”) or subsequent IRS determination letter, or it can be different. SeeInstructions for Schedule A for more information.

    Form 990-series information returns are due May 15

    April 12, 2019

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    Many tax-exempt organizations must file information returns by May 15

    Online training for small and mid-size 501(c)(3) organizations

    IRS Nationwide Tax Forums offer:

    • Continuing education via educational seminars
    • Case Resolution Program
    • Opportunities to talk with IRS subject

    BCLP Awarded “Private Client Team of the Year 2019” by Legal Business Awards

    April 4, 2019

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    The Legal Business Awards recently honored Bryan Cave Leighton Paisner LLP with its “Private Client Team of the Year” award for 2019.  The event took place at the Grosvenor House in London on March 28, 2019.

    BCLP received the award based on a combination of factors, including:

    • the merger of its legacy Berwin Leighton Paisner / Bryan Cave teams into a global private client practice
    • the firm’s Middle East work, including the Shari’a advice, and UAE / ADGM work
    • its ability to work with clients across the world, with a focus Europe, USA, Middle East, and Asia
    • the range of work the firm can cover, from high net worth individuals, to wealth management institutions and family offices
    • its Family Asset Protection and divorce practice
    • its BCLP Residential practice
    • its advice on the treatment of complex Liechtenstein foundations by HMRC
    • the firm’s wider Private Wealth offering

    IRS Revises EIN Application Policy, Now Requires an Individual to be Listed as the “Responsible Party”

    The IRS announced on March 27, 2019 that in an effort to enhance security and improve transparency, the “responsible party” on applications for an employer identification number (EIN) must now be a natural person.

    An EIN is the tax identification number assigned to entities such as trusts, estates, retirement plans, LLCs, partnerships, and corporations.  An entity obtains such a number by completing the IRS Form SS-4 or an online application.  One question in the application process asks the applicant to identify the “responsible party,” which the IRS defines as “the person who ultimately owns or controls the entity or who exercises ultimate effective control over the entity.” In deciding who to list as the responsible party, the IRS encourages applicants to consider whether the party has “a level of control over, or entitlement to, the funds or assets in the entity that, as a practical matter, enables the person, directly

    Group Ruling Holders will no longer receive lists of parent and subsidiary accounts from IRS

    March 21, 2019

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    As of January 1, 2019, the IRS stopped mailing lists of parent and subsidiary accounts to central organizations (group ruling holders) for verification and return. Central organizations with accounting periods ending June 30, 2019, must submit updates by April 1, 2019. See Group Exemption Rulings and Group Returns for details.

    Job opportunities at the IRS, Tax Exempt & Government Entities

    March 6, 2019

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    The IRS Tax Exempt & Government Entities Division (TE/GE) has a wide range of job opportunities available. Apply today to become part of our team and help us oversee a vital part of the nation’s tax system.

    1. Are you a recent graduate with qualifying accounting credits? Apply today to become a Revenue Agent through our Pathways Recent Graduates program. In this job, you’ll help taxpayers understand and comply with their tax obligations and apply tax laws with integrity and fairness.

    IRS Pathways Recent Graduate Program (Internal Revenue Agent)

    Multiple Locations

    Starting at $33,394 (GS 05-09)

    This job is open 02/25/2019 to 03/15/2019

    2. Apply today to become a Tax Compliance Officer. As a TCO, you’ll plan, coordinate and conduct independent Correspondence Examinations and related investigations of individual and/or business taxpayers. You’ll also provide tax law and tax-related accounting assistance to taxpayers.

    Tax Specialist (Tax Compliance Officer-TCO) **12

    TE/GE Fiscal Year 2018 Accomplishments Letter

    February 1, 2019

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    TE/GE is pleased to announce the release of the Tax Exempt and Government Entities Fiscal Year 2018 Accomplishments Letter that:

    • Contains information on TE/GE’s contributions to the tax administration system
    • Lists each TE/GE function’s accomplishments under the six portfolio programs of our compliance program

    You may also want to review the TE/GE Fiscal Year 2019 Program Letter, which explains TE/GE’s compliance program consisting of:

  • Compliance strategies
  • Data-driven approaches
  • Referrals, claims and other casework
  • Compliance contacts
  • Determinations
  • Voluntary compliance and other technical programs