Audits Show Widespread Underreporting of UBI | The NonProfit Times

Audits Show Widespread Underreporting of UBI | The NonProfit Times: Unreported unrelated business income in higher education was found in almost every case examined by the Internal Revenue Service (IRS).

“The audits identified some significant compliance issues at the colleges and universities examined,” said Lois Lerner, director, Exempt Organizations division of the IRS. “Because these issues may well be present elsewhere across the tax-exempt sector, all exempt organizations need to be aware of the importance of accurately reporting unrelated business income and providing appropriate executive compensation.”

The Perils of Global Giving | Philanthropy content from WealthManagement.com

The Perils of Global Giving | Philanthropy content from WealthManagement.com: Yet U.S. charities engaged in international philanthropy face a number of challenging tax and legal issues that are less relevant in a purely domestic context. Many arise from the fact that the rules under which donors to charitable organizations may claim tax deductions or other benefits for their contributions are governed almost exclusively by the law of each separate jurisdiction. U.S. donors generally may claim an income tax deduction only for charitable contributions made to organizations formed under U.S. law, or under the laws of a U.S. state, the District of Columbia or a U.S. possession. Few treaties allow U.S. persons to make deductible donations to foreign charities.

Southeast AgNET � Archive � Florida Commissioner’s Spotlight on Charitable Contributions

Southeast AgNET � Archive � Florida Commissioner’s Spotlight on Charitable Contributions: On this week’s Commissioner’s Spotlight, Florida’s Commissioner of Agriculture Adam Putnam, talks about charitable giving in the aftermath of a tragedy or disaster.

New York Attorney General to Impose Expansive New Disclosure Requirements on Not-for-Profit Organizations Making Political Expenditures | The National Law Review

New York Attorney General to Impose Expansive New Disclosure Requirements on Not-for-Profit Organizations Making Political Expenditures | The National Law Review: The New York State Attorney General (the AG) has proposed broad new regulations which will require not-for-profit organizations filing with the AG’s Charities Bureau to disclose their financial involvement in “New York Elections.

IRS Requests Comments on Charitable Substantiation Requirements | Planned Giving Design Center

IRS Requests Comments on Charitable Substantiation Requirements | Planned Giving Design Center: RS Requests Comments on Charitable Substantiation Requirements
News story posted in Comments by Marc Hoffman on 23 April 2013| comments
audience: National Publication | last updated: 24 April 2013

Michigan charities take a hit as state scales back tax breaks; are you giving less? | Detroit Free Press | freep.com

Michigan charities take a hit as state scales back tax breaks; are you giving less? | Detroit Free Press | freep.com: n 2011, COTS received 1,023 contributions between $200 and $400 — donations once eligible for a 50% Michigan tax credit. But in 2012, when no tax credit was available, donors in that category fell to 866 and accounted for a $45,000 drop in donations.”

Baucus To Retire, Was Advocate For Nonprofits | The NonProfit Times

Baucus To Retire, Was Advocate For Nonprofits | The NonProfit Times: Sen. Max Baucus (D-Mont.) who had some legendary and public battles with Sen. Charles Grassley (R-Iowa) in defense of nonprofits while a member of the Senate Finance Committee, will not seek reelection in 2014. “I will serve out my term, then it will be time to go home to Montana,” he wrote in a statement on his website

SC voters to decide whether to legalize raffles - SFGate

SC voters to decide whether to legalize raffles - SFGate: Voters will decide next year whether church cake walks and school raffles will finally become legal in South Carolina.

Schools, churches and other nonprofits could hold a limited number of raffles yearly under measures given final approval in the House earlier this month

Calls For Increased Scrutiny of 501(c)(4) Nonprofits - NPQ - Nonprofit Quarterly

Calls For Increased Scrutiny of 501(c)(4) Nonprofits - NPQ - Nonprofit Quarterly: Jonathan Salant’s reporting on the various Senate hearings and IRS inquiries into 501(c)(4) social welfare organizations that do a lot more political campaigning than they ever do in social welfare programming strikes us as noteworthy. It suggests that the hourglass may be running low on the ability of these political groups to spend secret money on electoral politics, flouting not only the public’s need for disclosure but also their own statements about their social welfare purposes.

Study examines nonprofits' expenses - News - Citizens' Voice

Study examines nonprofits' expenses - News - Citizens' Voice: HARRISBURG - A new legislative study examining the financial picture for more than 600 nonprofit organizations in Pennsylvania appears as state lawmakers are moving a bill to assert their right to define what a public charity is.

IRS Rule Change Shields Charities' Overseas Gift Recipients - Philanthropy Today - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas

IRS Rule Change Shields Charities' Overseas Gift Recipients - Philanthropy Today - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas: IRS Rule Change Shields Charities’ Overseas Gift Recipients

April 15, 2013, 10:53 am

A little-noticed amendment to Internal Revenue Service reporting rules made in 2008 allows U.S. nonprofit organizations to fund overseas charities without identifying them, according to The Jewish Daily Forward.

The change was implemented as part of a broader overhaul of the Form 990 most nonprofit groups file with the federal tax agency. While organizations previously had to specify gift recipients abroad, now they are required only to state the world region to which their funding went.

The Economic Case Against Tax Deductions - Businessweek

The Economic Case Against Tax Deductions - Businessweek: What is the rationale for these deductions? Many analysts suggest that if the charitable deduction were removed, people would give less to charity—perhaps even by as much as their tax bills would rise (PDF). Whether you think this would be a bad thing for the economy and society depends on your relative faith in government and nonprofit organizations to deliver public services. It also depends on how much of that charitable giving is going toward “public services.

Protecting charitable giving helps everybody | WashingtonExaminer.com

Protecting charitable giving helps everybody | WashingtonExaminer.com: Charities and other nonprofit institutions perform a vast array of altruistic works yielding benefits for both the direct beneficiaries and for society writ large. Current proposals to change the favorable tax treatment of private giving, and larger proposals to reform the federal tax system, would have important effects on such giving and thus on the benefits that private charitable institutions yield.

Charity Experts And Wealth Advisers Slam Obama Deduction Proposal - Investors.com

Charity Experts And Wealth Advisers Slam Obama Deduction Proposal - Investors.com: Wealth advisers and philanthropies were quick to criticize President Obama's budget proposal that would cap deductions on charity.

White House Seeks to Force Charities to File Tax Forms Electronically - Tax Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas

White House Seeks to Force Charities to File Tax Forms Electronically - Tax Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas: White House Seeks to Force Charities to File Tax Forms Electronically

By Sarah Frostenson

President Obama is asking Congress to require nonprofits to file their informational tax returns electronically and taking other steps to encourage the Internal Revenue Service to make charity data more easily available to the public.

Obama to Renew Call to Limit Charitable Deduction - Tax Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas

Obama to Renew Call to Limit Charitable Deduction - Tax Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas: President Obama is expected to renew his call to limit the charitable tax deduction when he releases his 2014 budget plan on Wednesday—a proposal that nonprofits have repeatedly helped defeat.

4/4/13 – Coalition Launches ProtectGiving.org - CHARITABLE GIVING COALITION

Press Release

4/4/13 – Coalition Launches ProtectGiving.org - CHARITABLE GIVING COALITION: 4/4/13 – Coalition Launches ProtectGiving.org

Website Provides Resources to Inform, Engage in Charitable Deduction Debate

WASHINGTON, D.C. – Heading into a critical stage on the federal budget and tax reform, the Charitable Giving Coalition launched a new website – protectgiving.org. The online resource is designed to provide user-friendly, accessible information about the vital role of charitable giving in America’s communities.

C. Oregon non-profits fight to save tax deductions | News - Home

C. Oregon non-profits fight to save tax deductions | News - Home: People ask for them, they're motivated by them -- it's very important," MountainStar Executive Director Tim Rusk said Wednesday.

But a bill in the Oregon Legislature would eliminate that deduction, part of an effort for the state to generate more tax dollars.

House Bill 2001 was introduced by House Speaker Tina Kotek, and would end most itemized state tax deductions. In addition to charitable donations, medical expenses and home mortgage interest deductions could also be eliminated.

Charitable Collection Box Regulation Pulled From Agenda - capradio.org

Charitable Collection Box Regulation Pulled From Agenda - capradio.org: bill that would have given local governments in California more power to regulate charitable collection boxes was pulled from a legislative committee hearing Wednesday.

What charities need to know about the Foreign Account Tax Compliance Act

What charities need to know about the Foreign Account Tax Compliance Act: Eva Abeles and Melora Jezierska explain the implications for the sector in this country of a new piece of tax legislation from the United States

It is fair to say that the Foreign Account Tax Compliance Act has not been on the charity world’s radar because it is, after all, a piece of US tax legislation. However, because Fatca imposes additional reporting and compliance burdens on all banks and financial institutions, it will affect how these entities interact with charities.

What is Fatca?

New Canada Revenue rules target charitable tax shelters - The Globe and Mail

New Canada Revenue rules target charitable tax shelters - The Globe and Mail: The Canada Revenue Agency has been given controversial new powers to go after Canadians who participate in tax shelters that involve donations to charity.

Charitable groups seek to cash in on slot machines - By Kara Nuzback - CapeGazette.com - Covering Delaware's Cape Region - Inland Bays, Atlantic Ocean, Rehoboth Beach, Lewes, Milton, Dewey Beach, USA

Charitable groups seek to cash in on slot machines - By Kara Nuzback - CapeGazette.com - Covering Delaware's Cape Region - Inland Bays, Atlantic Ocean, Rehoboth Beach, Lewes, Milton, Dewey Beach, USA: Dover — Veterans in Delaware are calling on the General Assembly to develop a bill that allows them to keep slot machines in their clubs as a permanent source of revenue.

The House Gaming and Pari-mutuels Committee met March 13 at Legislative Hall in Dover to discuss the future of House Bill 1. The bill was passed in January to temporarily allow the clubs to use slot machines as a revenue source, but the bill is scheduled to sunset in June.

IRS To 'Social Welfare' Groups: Show Me The Political Ad Money : It's All Politics : NPR

IRS To 'Social Welfare' Groups: Show Me The Political Ad Money : It's All Politics : NPR: There are still unanswered questions about the politically active 501(c)(4) "social welfare" groups. The anonymously funded entities' multimillion-dollar ad budgets helped to clog the airwaves last year.

Government to slash charity red tape - ABC News (Australian Broadcasting Corporation)

Government to slash charity red tape - ABC News (Australian Broadcasting Corporation): Ms Helyar says the proposed legislation will not mean a lessening of scrutiny of the sector.

"The Australian Charities and Not-for-Profits Commission has been set up to actually improve scrutiny," she said.

"I'm really confident that there will be no lessening in scrutiny.