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Articles by Alec Sauble
Proposed Treasury Regulations Would End Tax-Exempt Status for Private Schools Under Racial Nondiscrimination Requirement | JD Supra
On Sept. 3, 2026, Treasury and the IRS issued proposed regulations that would end tax-exempt status for private schools that discriminate on the basis of race, color, or national or ethnic origin in admissions, scholarships, athletics or other programs. The proposed regulations would apply to private primary and secondary schools, colleges, universities, and professional and trade schools, but not to public schools.
Donor Advised Funds: Proposed Regs Offer Guidance, But Leave Big Questions Unanswered
For the past 16 years, the U.S. Department of the Treasury’s Office of Tax Policy and the Internal Revenue Service’s joint Priority Guidance Plan has included the issuance of regulations relating to donor advised funds (DAFs) to address excises taxes, prohibited benefits and excess benefit transaction rules.
2023 Key Developments Impacting Nonprofits and Donors
The tax-exempt sector employs 29% of the American workforce and controls nearly $53 trillion in assets according to IRS statistics. Tax-exempt organizations also account for about 26% of the $1.5 trillion in federal tax expenditures (revenue losses due to tax-exempt status). Recognizing this large financial impact, governing authorities require nonprofits and their leaders to navigate complex tax rules to retain their federal tax-exempt status.
IRS Halts ERC Claims Processing Amid Surge of Questionable Submissions | JD Supra
The Internal Revenue Service announced on Sept. 14, 2023, an immediate moratorium on the processing of Employee Retention Credit (ERC) claims that is anticipated to last at least through the end of the year.
IRS Halts ERC Claims Processing Amid Surge of Questionable Submissions
The Internal Revenue Service announced on Sept. 14, 2023, an immediate moratorium on the processing of Employee Retention Credit (ERC) claims that is anticipated to last at least through the end of the year.
Reminder: Private Foundations Are Subject To 1.39% Excise Tax On Net Investment Income
With the extended 990-PF filing deadline approaching for private foundations on a calendar year accounting period, foundation leaders should ensure that they have paid the 1.39% net investment income excise tax and should properly report any investment income on the foundation's 2022 tax return. Below is a quick refresher on calculation of the net investment income excise tax and payment obligations.
Reminder: Private Foundations Are Subject to 1.39% Excise Tax on Net Investment Income
With the extended 990-PF filing deadline approaching for private foundations on a calendar year accounting period, foundation leaders should ensure that they have paid the 1.39% net investment income excise tax and should properly report any investment income on the foundation’s 2022 tax return. Below is a quick refresher on calculation of the net investment income excise tax and payment obligations.
SECURE 2.0 and Other Legislative Proposals Address Charitable Giving Strategies
Despite uncertain conditions, a recent survey shows that approximately three out of four donors maintained their level of charitable giving in 2022 and expect to maintain or increase their giving in 2023. That said, the enactment of Secure 2.0 and other recent legislative and regulatory proposals described below could affect donors’ strategies for charitable giving starting in 2023. SECURE 2.0 Act. Perhaps the most impactful of these changes is the SECURE 2.0 Act, which was signed into law Dec.
Timing is critical for gift of appreciated stock to avoid capital gain from sale of company
Business owners contemplating selling their companies often look to their tax advisers for options to reduce the potential tax impact upon sale. One option routinely considered is having the owner contribute a portion of the appreciated stock to a charitable organization before the transaction closes to avoid income taxes on the donated shares. This leads to a critical question: How far in advance of the closing must the charitable contribution occur?
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