While beauty may be in the eye of the judges, a beauty pageant’s qualification as an Internal Revenue Code Section 501(c)(3) charity is in the eye of the Internal Revenue Service...
Simplifying complicated facts—and doing some rounding off. A partnership reported a $33 million charitable contribution for property donated to a university. The partnership had acquired its interest in the contributed property from...
A new type of potential charitable gift is Virtual Currency. And, this gift could be right around the corner now that the Internal Revenue Service has specified the many tax ramifications of Virtual Currency transactions. I’ll sometimes use...
Ways and Means Chairman Dave Camp (R-MI), on Feb. 26, 2014, released (but didn’t introduce) a nearly 1,000 page bill (Discussion Draft, The Tax Reform Act of 2014), a major overhaul of the Internal Revenue Code. Effective. ...
Every year, the Internal Revenue Service updates the list of topics on which it will: (1) not issue rulings, (2) ordinarily not issue rulings, and (3) not issue rulings because the issue is under extensive study. Rev. Proc. 2014-3, 2014-1 IRB 111 ...
Proposed regulations thwart a capital-gain-avoidance plan. The plan purports to avoid capital gain for a life (or term-of-years) beneficiary of a charitable remainder unitrust (CRUT) or annuity trust (CRAT) on a sale to a third party by the life...
The focus on special charitable-incentive tax laws that expire on Dec. 31, 2013 has been on tax-free distributions to charities from individual retirement accounts. Back reference. Tax-Free IRA Distributions to Charity...
