Current Edition of Exempt Organizations Update

Current Edition of Exempt Organizations Update: "Current Edition of Exempt Organizations Update


EO Update is a periodic newsletter with information for tax-exempt organizations and tax practitioners - attorneys, accountants, and others - who represent them, from Exempt Organizations (Tax-Exempt and Government Entities) at the IRS."

Charitable Deduction Limit: Bad For Art Nonprofits? : NPR

Charitable Deduction Limit: Bad For Art Nonprofits? : NPR: "Now, in an effort to reduce the deficit, President Obama hopes to limit the charitable deduction for the top income bracket. That is, wealthy donors who itemize would not be able to deduct as much from their income to owe less in taxes. Charities — which are already hurting from the economic downturn — are worried this will discourage potential donors."

Help generous Iowans trust charities | The Des Moines Register | DesMoinesRegister.com

Help generous Iowans trust charities | The Des Moines Register | DesMoinesRegister.com: "Iowans need a simple, state-based source for checking out a charity to be able to answer that question. The Iowa Legislature should provide it by finally passing the Charitable Solutions Act.

Proposed again this year by Iowa Attorney General Tom Miller, Senate Study Bill 1029 would allow the state to establish a registry of organizations."

U.S. Senate Passes 1099 Repeal- The NonProfit Times Feb 14, 2011

U.S. Senate Passes 1099 Repeal- The NonProfit Times Feb 14, 2011: "Amid all the bad news charities are getting lately, there is a glimmer of hope -- at least for the accounting departments. The U.S. Senate this past Wednesday approved an amendment that would repeal a measure that would require nonprofits to file a Form 1099 for any vendor with which they spend more than $600. The new rule is set to take effect in January 2012."

IRS Rules on Deductibility of Payments That Produce Transferable State Tax Credits | Planned Giving Design Center

IRS Rules on Deductibility of Payments That Produce Transferable State Tax Credits | Planned Giving Design Center: "The IRS has ruled that payments of cash or property to a state agency or charitable organization that produce transferable state tax credits are considered qualified charitable contributions under section 170 of the Internal Revenue Code and are not a payment of tax possibly deductible under � 164. Further ruled, in the case of transfers of property, such transfers are not considered a taxable disposition under section section 1001."

IRS Releases Revised Pub. 526 - Charitable Contributions | Planned Giving Design Center

IRS Releases Revised Pub. 526 - Charitable Contributions | Planned Giving Design Center: "The IRS has released a revised version of Publication 526 - Charitable Contributions for use in helping taxpayers prepare 2010 tax returns."