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A sample letter to donors.

Now's a good time to tell your clients how to substantiate their charitable gifts on their 2017 federal income tax returns, due April 17, 2018.

5 Jan 2017 | Compliance | National Publication, David Wheeler Newman | Article | 1 comments
David Wheeler Newman presents a cogent summary of the effects of UPMIFA regulations on managing Endowment funds.
4 Jan 2016 | Compliance | National Publication, Richard L. Fox, Esq. | Article | 6 comments

Richard Fox explores a recent case, Green vs. US, which opens up some interesting planning opportunities


David Wheeler Newman gives us an excellent analysis of excess business holdings and unrelated business taxable income (UBTI) based on a recent PLR.

Substantial statutory and regulatory changes have made meeting the requirements of a Type III supporting organization even more challenging and complex than ever.

The so-called "Type III supporting organization" ("SO"), is one of the most complex and difficult to understand forms of Section 501(c)(3) tax-exempt organizations. PGDC contributing author Richard Fox provides tips for complying with the statutory and regulatory...


The constructive general inter vivos power of appointment is the product of the marriage of power of appointment doctrine and creditors' rights doctrine. In this article, PGDC contributing author Charles E. Rounds offers and excerpt from Loring and Rounds: A...


The Internal Revenue Service multi-year Colleges and Universities Compliance Project (CUCP) final...

11 Jul 2013 | Compliance | National Publication | News story

The Taxation Section of the California Bar Association has issued a paper recommending that (1) Congress amend Section 170 to codify the requirements of reporting bargain sales; (2) that Treasury Regulations section 1.170A-13(f) be amended to explain what kind of...

7 Jun 2013 | Compliance | National Publication | Article | 1 comments

Prior to the Tax Reform Act of 1969, the only sanction available to the IRS against a private foundation was the revocation of its exempt status. Seeing that as too severe, Congress created a series of six private foundation excise taxes, one of which is the tax on...

IRS study of colleges and universities spotlights rebuttable presumption deficiencies and future examination focus

Last month the Internal Revenue Service published its final Colleges and Universities Compliance Project report, which included an examination of executive compensation in connection with the excess benefit transaction rules under IRC section 4958. In this article,...


For many charitable organizations classified as a public charity, reclassification as a private foundation can have significant implications for sustainability and mission accomplishment.  In this article, North Carolina-based CPA and philanthropic consultant...

2 Jan 2012 | Compliance | National Publication | News story

Writing for Trusts & Estates, attorney Conrad Teitell tells advisors it is a good time to remind clients to substantiate their charitable contribution deductions prior to filing their 2011 income tax returns and provides a sample letter to help advisors...

30 Aug 2011 | Compliance | National Publication | Article

What do charitable giving and Medicaid have in common? As it turns out, quite a bit. Writing on behalf of the National Academy of Elder Law Attorneys, Springfield, Massachusetts lawyer Hyman Darling, CELA discusses the issues that surround individuals making...

7 Oct 2010 | Compliance | National Publication | News story

A crucial filing deadline of Oct. 15 is looming for many tax-exempt organizations that are required by law to file their Form 990 with the Internal Revenue Service or risk having their federal tax-exempt status revoked. Nonprofit organizations that are at risk can...

6 Oct 2010 | Compliance | National Publication | News story
Appraiser Alan Breus, CLU, ChFC has responded in opposition to an insurer's recommendation to Treasury that it adopt a policy of accepting a "fair market value statement" from the issuing life insurance company as a qualified appraisal when valuing inforce...
30 Sep 2010 | Compliance | National Publication | News story
Following a meeting with Treasury officials, representatives of MassMutual Financial Group have requested that Treasury adopt a policy of accepting a "fair market value statement" from the issuing life insurance company as a qualified appraisal from a...
12 Feb 2009 | Compliance | National Publication | News story | 3 comments
According to an article in the February 11, 2009 issue of the New York Times, private foundations that invested with Bernard Madoff might lose more than their investments. Private foundations and certain charitable trusts (along with their managers/trustees) might be...
28 Feb 2008 | Compliance | National Publication | News story | 12 comments
In a news story published on its website, the United Church of Christ has announced it has received notice from the IRS that it is initiating a church tax inquiry "because reasonable belief exists that the United Church of Christ has engaged in political...
8 Feb 2008 | Compliance | National Publication | News story
AICPA has issued guidance for members who prepare fiduciary income tax returns to comply with the Supreme Court's decision in Knight v. CIR, aff'ing Rudkin Testamentary Trust v. CIR, with respect to deducting trust administrative costs on 2007 Form 1041. With respect...
Following passage of the PPA 2006 and the first "Charitable IRA Rollover," the two most significant questions on advisors' minds have been how taxpayers will exclude qualified charitable distributions on their income tax returns and whether or not IRA custodians will...
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Recent activity

Understanding UPMIFA: Important Endowment Concepts

Case of First Impression

A Closer Look at the Excise Tax on Excess Business Holdings under I.R.C. Section 4943 on Private Foundations

Insurer Makes Recommendations Regarding Qualified Appraisals for Donated Inforce Life Insurance Policies

Heard on the Web: Madoff Scandal May Implicate Jeopardizing Investment Tax Rules

The Top Ten" Common Errors to Avoid in Charitable Trust Planning"

IRS to Investigate Church's Political Activities