The article reports that on November 26, 2013 the U.S. Internal Revenue Service proposed rules that would circumscribe the political activities of tax-exempt, non-profit organizations. Parties affected include Crossroads GPS, an advocacy group that raised $180 million during 2011 and 2012. U.S....
IRS Publication 557 is an IRS document that explains the rules an organization must follow to obtain and maintain tax-exempt status. Securing tax-exempt status carries huge benefits to non-profit organizations, as they won’t have to pay any income taxes on business activities and can seek out...
the White House had revised its estimate to$400 billionover ten years. Still a ton of money. …Once the Inflation Reduction Act actually came into being, Democrats were banking on the IRS provisions raising$203.7 billionover ten years. …Then, ...
Twitter Google Share on Facebook Internal Revenue Service (redirected fromIrs forms) Thesaurus Legal Financial Encyclopedia Inter′nal Rev′enue Serv`ice n. the division of the U.S. Department of the Treasury that collects internal revenue, including income taxes and excise taxes, and enforces re...
Believe it or not, the IRS has charitable donation limit maximums. And, for those who are charitable, there can be large tax implications to understanding these rules. While reaching the maximum donation limit may not seem like something you’d ever encounter, it would be wise to not complet...
Lend someone money at zero interest, and you don't make any profit from the deal. Therefore, you might assume that the loan doesn't have any tax implications for you. In many cases, though, you'd be wrong. The tax code expects you to charge a certain amo
Carrie Brandon Elliot explains the treatment of 25-percent-owned domestic subsidiaries in determining passive foreign investment company status, along with antiabuse rules and proposed safe harbors.Show All Sign up for a free trial to access more content. A 7-day trial subscription is an easy way...
This might be different if you were renting the space to other non-profit organizations constituent with your own mission, such as local dance groups, community theater, theater camps, etc. Regardless, I wouldn’t try calling the rent a “voluntary donation” to avoid the taxes. It’s not ...
mitigations. It is not difficult to imagine the IRS utilizing the same tactics against developers of non-upgradeable smart contracts who do not update their web front-ends to comply with the tax reporting rules. (It is important to note that the Tornado Cash cases and the broker rule involve...
As is the case every year, we’re hearing from lots of folks confused about when to send a 1099 form or other “information returns” to someone. It is true that over time, these forms have continued to change, and the rules have become more specific… but the basics remain the same....