Wednesday, April 23, 2014

IRA Rollover Provision Included in Senate’s EXPIRE Act - Press - AFP

IRA Rollover Provision Included in Senate’s EXPIRE Act - Press - AFP: ome
IRA Rollover Provision Included in Senate’s EXPIRE Act

The IRA Charitable Rollover provision, which allows donors age 70� and older to exclude from their taxable income any IRA funds up to $100,000 that have been withdrawn and transferred to a charity when filing a tax return, is one step closer to being reinstated back into law.

Read AFP's Written Comments House Committee on Ways and Means Hearing on the Benefits of Permanent Tax Policy for America’s Job Creators (April 21, 2014)

Tuesday, April 22, 2014

State Charity Regulators Offer Tips on Internet and Social Media Fundraising | Social Enterprise and Nonprofit Law Blog

State Charity Regulators Offer Tips on Internet and Social Media Fundraising | Social Enterprise and Nonprofit Law Blog: The National Association of State Charity Officials (NASCO) recently posted tips on internet and social media fundraising to help charities and fundraising platforms understand their rights and obligations, and to help donors make informed giving decisions. The tips highlight four key concerns that state charity regulators have regarding the use of the internet, email, social media, and mobile phones in charitable fundraising: (1) fraudulent and deceptive solicitations, (2) charities’ control over the use of their names on fundraising platforms, (3) transparency in fundraising platform policies, and (4) compliance with fundraising regulatory requirements.

Controversial CFC Regs Approved by OPM; Both Parties Protest - NPQ - Nonprofit Quarterly

Controversial CFC Regs Approved by OPM; Both Parties Protest - NPQ - Nonprofit Quarterly: After the reports on this year’s campaign, with donations plummeting a record 19 percent, it was only a matter of time before Congress got involved to question exactly what might be going on with the Office of Personnel Management’s oversight of the Combined Federal Campaign (CFC) and with OPM’s proposed regulations to make things better.

Last week, in a very rare demonstration of bipartisan action, especially one involving Darrell Issa (R-CA) and Elijah Cummings (D-MD), the two—along with Blake Farenthold (R-TX), Stephen Lynch (D-MA), and David Reichert (R-WA)—wrote to the Office of Management and Budget, which now has to approve the OPM rules, suggesting that parts of OPM’s proposed regulations could actually make the CFC worse. It might be hard to imagine that the CFC might get worse, or to believe that Issa and Cummings, last seen in a very public

Thursday, April 17, 2014

Tuesday, April 15, 2014

New IRS Commisioner Grapples With Tumult And Tax Code | WSIU

New IRS Commisioner Grapples With Tumult And Tax Code | WSIU: UDIE CORNISH, HOST:

From NPR News, this is ALL THINGS CONSIDERED. I'm Audie Cornish.

The last year has been rough for the IRS. Here are some numbers that helped tell the story. Three high-profile resignations of IRS officials, six ongoing investigations into the agency, and 150,000 public comments on a proposed IRS rule. That's a record. And all this goes back to a particular section of the tax code.

IRS to Rewrite Proposed Rule on Politicking by Nonprofits – Philanthropy Today - Blogs - The Chronicle of Philanthropy

IRS to Rewrite Proposed Rule on Politicking by Nonprofits – Philanthropy Today - Blogs - The Chronicle of Philanthropy: Internal Revenue Service Commissioner John Koskinen tells USA Today that the agency is prepared to revise controversial new regulations on permissible political activity by nonprofit groups.

“In all likelihood we will re-propose a redefined rule and ask for more public comment,” Mr. Koskinen said Monday in a video interview with the newspaper. He said the changes will take into account fierce criticism of the proposed regulations from activists and organizations on both left and right.

Friday, April 11, 2014

Report Questions Tax Breaks for Nonprofit Hospitals With Big Revenues – Philanthropy Today - Blogs - The Chronicle of Philanthropy

Report Questions Tax Breaks for Nonprofit Hospitals With Big Revenues – Philanthropy Today - Blogs - The Chronicle of Philanthropy: Report Questions Tax Breaks for Nonprofit Hospitals With Big Revenues

The finances and spending of large nonprofit hospitals that receive tax breaks while earning hundreds of millions of dollars in revenues and paying seven-figure executive salaries are examined in a special report by investigative journalism site 100Reporters.

Thursday, April 10, 2014

Bill inspired by Augusta restaurant headed to governor’s desk | The Morning Sentinel, Waterville, ME

Bill inspired by Augusta restaurant headed to governor’s desk | The Morning Sentinel, Waterville, ME: Rep. Lori Fowle, D-Vassalboro, sponsored a bill to modify the state’s Charitable Solicitations Act after the Red Barn got into trouble with the state Office of the Attorney General for its fundraising activities. The restaurant on the city’s east side got a letter from the state in November telling it to stop holding fundraisers because it was not licensed by the state’s Office of Professional and Occupational Regulation.

Tuesday, April 08, 2014

Solicitation for Charity: Eliminate 'Financial Predators' | TheLedger.com

Editorial

Solicitation for Charity: Eliminate 'Financial Predators' | TheLedger.com: ome groups have minimal administrative costs, and channel all or most of the donations to the intended recipients. Others spend most — or even all — of the money on salaries and solicitation costs.

The trouble is, because of Florida’s lax laws on charitable solicitations, donors in many cases have no way of knowing which charities are legitimate and which are not.

Agricultural Commissioner Adam Putnam, R-Bartow, wants to change that. And Florida’s lucrative direct-solicitation industry wants to the stop him or at least weaken his plan.

Massive Rewrite Of Charity Law Nearing Passage | WGCU News

Massive Rewrite Of Charity Law Nearing Passage | WGCU News: A bill to bring more transparency to charities operating in Florida is close to passing the Legislature. It follows a Tampa Bay Times investigation into the country’s worst charities. The report looked at the ones that spend a lot of money on solicitors.

Tia Mitchell in the Herald/Times Tallahassee Bureau says the legislation is a massive rewrite of the state’s rules governing charities.

Monday, April 07, 2014

Charity Commission seeks more information in 2014 annual return

Charity Commission seeks more information in 2014 annual return: Charities will have to provide more information about their activities in their annual return, including information about fundraising, payment to trustees, trading and grantmaking, the Charity Commission has said.

Friday, April 04, 2014

IRS Lets Taxpayers Claim Donations Early for Philippines Typhoon Relief

IRS Lets Taxpayers Claim Donations Early for Philippines Typhoon Relief: Taxpayers who make cash contributions on or before April 14, 2014, for Philippines typhoon relief can get an immediate tax benefit by choosing to claim them on their 2013 returns, according to the Internal Revenue Service.

Under special legislation enacted last week, taxpayers can choose to treat cash contributions made on or after March 26, 2014, and be

Pick.Click.Give donations continue annual growth - Fairbanks Daily News-Miner: Local News

Pick.Click.Give donations continue annual growth - Fairbanks Daily News-Miner: Local News: Pick.Click.Give is a statewide campaign that aims to make it easier for Alaska residents to donate to their favorite Alaska nonprofit organizations by giving the money directly from their PFD. Though the filing period has ended, people can still return to their applications online and add a donation through Pick.Click.Give. through Aug. 31.

Thursday, April 03, 2014

Compliance Tips for Type III Supporting Organizations | Planned Giving Design Center

Compliance Tips for Type III Supporting Organizations | Planned Giving Design Center: The so-called “Type III supporting organization” (“SO”),[1] which first came into existence as a result of the enactment of Section 509(a)(3) under the Tax Reform Act of 1969,[2] is one of the most complex and difficult to understand forms of Section 501(c)(3) tax-exempt organizations. Although it may often bear a striking resemblance to a private foundation, particularly in the case of a charitable trust whose sole purpose it to make payments to one or more publicly supported organizations,[3] a Type III SO is classified as a public charity and is therefore not subject to the strict and burdensome tax regime, chock-full of potential excise tax penalties, applicable to private foundations.[4] Over the years, both Congress and the IRS have struggled with the treatment of Type III SOs, particularly in light of their perceived abuses, from considering eliminating them altogether t

Thursday, March 27, 2014

Obama OKs tax-deductible Haiyan aid

Obama OKs tax-deductible Haiyan aid: e Philippines thanked the United States on Wednesday, March 26, after US President Barack Obama legalized tax-deductible donations for Super Typhoon Yolanda (Haiyan) survivors.

Through the Philippines Charitable Giving Assistance Act, American taxpayers can “continue making tax-deductible donations to typhoon victims in the Philippines until April 15,” the Philippine Embassy in the United States said in a statement.