Tag Archives: nonprofits
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Client Alert: CIC Services, LLC v. Internal Revenue Service – A Rare Victory for the Taxpayer
On May 17, 2021, a unanimous Supreme Court issued its opinion in the long-awaited case interpreting the Anti-Injunction Act as applied to the Internal Revenue Service. CIC Services, LLC v. Internal Revenue Service was a rare loss for the government. The Supreme Court held that CIC Services has jurisdiction to question the IRS’ ability to demand burdensome record-keeping information from ... Read More
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Client Alert: Few Tax Exempt Organizations Examined By the IRS
The Treasury Inspector General for Tax Administration (“TIGTA”) recently issued a report about its review of the Internal Revenue Service’s (“IRS”) examination of tax-exempt organizations.[1] (“TIGTA Report”) The TIGTA Report analyzed examinations conducted by the IRS during fiscal year 2019. TIGTA found that there are many obstacles to overcome in order for IRS’ examiners to detect noncompliance by ... Read More
TAGGED: irs, tax exempt organizations, nonprofits, TIGTA, Form 990
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End of the Calendar Year: A Good Time to Confirm Compliance Issues for Businesses
Corporations, limited liability companies (LLCs), and other business entities are certainly aware of the need to make certain end of year decisions for income tax purposes, but it also is a good time to perform a business audit for possible state, local, and personal property tax return deadlines. It is also advisable for businesses to review other corporate compliance issues, such ... Read More
TAGGED: washington dc, maryland, nonprofits, Corporations, limited liability companies, business entities, District of Columbia, duty of loyalty, duty of care, LLC, Corporate Filing Requirements, Virginia, biennial reports, Annual Reports, property tax return (Form FP-31), l Business Tangible Personal Property Returns, Arlington County, Fairfax County, Fairfax County Department of Tax Administration, Corporate Formalities, Boards, Meetings, Elections, and Recordkeeping, Corporate Requirements, Corporate Bylaws, Fiduciary Duties, Breaches of Fiduciary Duties, Payroll Taxes
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Exempt Organizations: Tax Reform Provisions to Watch
Part II: Senate and House proposals By Nancy Ortmeyer Kuhn, Chair of Jackson & Campbell's Tax Group The Joint Committee on Taxation released the Senate’s “Description of the Chairman’s Mark of the ‘Tax Cuts and Jobs Act’” on November 9, 2017. The Ways and Means Committee of the U.S. House of Representatives previously released its long-awaited tax bill on November 2, ... Read More
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Exempt Organizations: Tax Reform Provisions to Watch
By Nancy Ortmeyer Kuhn, Chair of Jackson & Campbell's Tax Group The Ways and Means Committee of the U.S. House of Representatives released its long-awaited tax bill on November 2, 2017. The bill is entitled Tax Cuts and Jobs Act, H.R. 1 (“TCJA”). Note that there is nothing in the title referencing “tax simplification”. The full text of the bill ... Read More