http://www.pgdc.com/pgdc/feed/139 en Appraisers (and Charities) Beware http://www.pgdc.com/pgdc/appraisers-and-charities-beware <!--paging_filter--><p>In a recent release, <a href="http://www.irs.gov/uac/Newsroom/IRS-Bars-Appraisers-from-Valuing-Facade-Easements-for-Federal-Tax-Purposes-for-Five-Years" style="text-decoration:none;">IR-2014-31</a>, Karen L. Hawkins, Director of the Office of Professional Responsibility, entered into a settlement agreement with five appraisers from the same firm for violations of Circular 230. The settlement included five year suspensions for the appraisers. <span class="read-more"><a href="/pgdc/appraisers-and-charities-beware" title="Read the rest of Appraisers (and Charities) Beware." rel="nofollow"><strong>Read more &raquo;</strong></a></span></p> <div class="og_rss_groups"></div> http://www.pgdc.com/pgdc/appraisers-and-charities-beware#comments Information Release Wed, 09 Apr 2014 14:01:21 +0000 randy a. fox 993768 at http://www.pgdc.com IRS Calls for Comments http://www.pgdc.com/pgdc/irs-calls-comments <!--paging_filter--><p>The IRS requests comments in Federal Register/ Volume 79, No. 66/Monday April 7, 2014. The notice is regarding Rev. Proc.<a href="http://www.irs.gov/irb/2005-16_IRB/ar11.html"><span style="color:windowtext; text-decoration:none;text-underline:none"> </span></a><a href="http://www.irs.gov/irb/2005-16_IRB/ar11.html"><span style="color:#1155CC">2005-24</span></a>. This Revenue Procedure concerns the necessary exercise of a spousal election waiver needed to maintain the status of an existing CRAT or CRUT. Essentially, absent the election being filed timely, the aforementioned CRAT or CRUT would lose its qualifying status under Section 664(d)(1)(B) or (d)(2)(B). The election only concerns the surviving spouse who, under state law, may have a statutory right to receive an elective share in satisfaction of a said statutory right.</p> <p>The IRS comments appear to be seeking methods for reducing the burden of the taxpayer and the service in managing the paperwork associated with this Rev. Proc.</p> <div class="og_rss_groups"></div> http://www.pgdc.com/pgdc/irs-calls-comments#comments Information Release Revenue Procedures Tue, 08 Apr 2014 18:02:47 +0000 melody.griffin 993746 at http://www.pgdc.com IRS Advice on Private Foundation Expenditure Responsibility Rules http://www.pgdc.com/pgdc/irs-advice-private-foundation-expenditure-responsibility-rules <!--paging_filter--><p>Recently, the IRS issued clarification for Private Foundations regarding the responsibilities of the granting organizations and its grantees, to assure that the granted funds were utilized for their intended purposes. Generally, grantees must now provide reasonable reporting of the use of funds on a timely basis until all of the funds are expended. It seems clear that the level of responsibility and due diligence is being raised to a much higher standard, perhaps in order to prevent some perceived abuses. <span class="read-more"><a href="/pgdc/irs-advice-private-foundation-expenditure-responsibility-rules" title="Read the rest of IRS Advice on Private Foundation Expenditure Responsibility Rules." rel="nofollow"><strong>Read more &raquo;</strong></a></span></p> <div class="og_rss_groups"></div> http://www.pgdc.com/pgdc/irs-advice-private-foundation-expenditure-responsibility-rules#comments Information Release Mon, 07 Apr 2014 14:48:37 +0000 melody.griffin 993719 at http://www.pgdc.com Why is Fundraising Fun? http://www.pgdc.com/pgdc/why-fundraising-fun <!--paging_filter--><p>I received a LinkedIn post yesterday posted by Oliver Welty, CFRE. The post linked to Arthur C. Brooks op-ed in Sundays <em>New York Times</em>. The title was simply <a href="http://www.nytimes.com/2014/03/30/opinion/sunday/why-fund-raising-is-fun.html" style="text-decoration:none;">"Why Fund-Raising is Fun".</a> I encourage you to read the entire article. It's a good read for anyone in our business. Much of the article is about people feeling good when they give. As I read, this paragraph stood out. <span class="read-more"><a href="/pgdc/why-fundraising-fun" title="Read the rest of Why is Fundraising Fun?." rel="nofollow"><strong>Read more &raquo;</strong></a></span></p> <div class="og_rss_groups"></div> http://www.pgdc.com/pgdc/why-fundraising-fun#comments General Practice Wed, 02 Apr 2014 04:00:00 +0000 melody.griffin 993663 at http://www.pgdc.com Signs Your Clients Need Help With Charitable Planning http://www.pgdc.com/pgdc/signs-your-clients-need-help-charitable-planning <!--paging_filter--><p>Both advisors and clients benefit from discussing charitable giving earlier in the year. Here are 10 signs that your clients need help with charitable planning. <span class="read-more"><a href="/pgdc/signs-your-clients-need-help-charitable-planning" title="Read the rest of Signs Your Clients Need Help With Charitable Planning." rel="nofollow"><strong>Read more &raquo;</strong></a></span></p> <div class="field field-type-text field-field-subtitle"> <div class="field-items"> <div class="field-item odd"> Charitable donations typically drop off after a surge at the end of the year. </div> </div> </div> <div class="og_rss_groups"></div> http://www.pgdc.com/pgdc/signs-your-clients-need-help-charitable-planning#comments Practice Values-Based Tue, 01 Apr 2014 04:00:00 +0000 melody.griffin 993670 at http://www.pgdc.com Compliance Tips for Type III Supporting Organizations http://www.pgdc.com/pgdc/compliance-tips-type-iii-supporting-organizations <!--paging_filter--><p>The so-called "Type III supporting organization" ("SO"), is one of the most complex and difficult to understand forms of Section 501(c)(3) tax-exempt organizations. PGDC contributing author Richard Fox provides tips for complying with the statutory and regulatory changes. &nbsp;&nbsp; <span class="read-more"><a href="/pgdc/compliance-tips-type-iii-supporting-organizations" title="Read the rest of Compliance Tips for Type III Supporting Organizations." rel="nofollow"><strong>Read more &raquo;</strong></a></span></p> <div class="field field-type-text field-field-subtitle"> <div class="field-items"> <div class="field-item odd"> Substantial statutory and regulatory changes have made meeting the requirements of a Type III supporting organization even more challenging and complex than ever. </div> </div> </div> <div class="og_rss_groups"><ul class="links"><li class="og_links first last"><a href="/g/richard-l-fox">Richard L. Fox, Esq.</a></li> </ul></div> http://www.pgdc.com/pgdc/compliance-tips-type-iii-supporting-organizations#comments Compliance Richard L. Fox, Esq. Mon, 31 Mar 2014 19:32:14 +0000 melody.griffin 993534 at http://www.pgdc.com BITCOIN Ruling a Death Knell? http://www.pgdc.com/pgdc/bitcoin-ruling-death-knell <!--paging_filter--><p>In Notice 2014-21, The Internal Revenue Service provided guidance regarding the tax treatment of "convertible virtual currency", i. e. Bitcoin. For those who were thinking that Bitcoin or other similar ideas was a panacea for trading freely without the need for reporting transactions, it has become abundantly clear that that is not to be. Instead of currency, Bitcoin is to be treated as property. That means that every transaction must be tracked and is taxed at the fair market value of the property at the time of the transaction. <span class="read-more"><a href="/pgdc/bitcoin-ruling-death-knell" title="Read the rest of BITCOIN Ruling a Death Knell?." rel="nofollow"><strong>Read more &raquo;</strong></a></span></p> <div class="og_rss_groups"><ul class="links"><li class="og_links first last"><a href="/g/two-hawks-consulting">Two Hawks Consulting, LLC</a></li> </ul></div> http://www.pgdc.com/pgdc/bitcoin-ruling-death-knell#comments Tangible Personal Property IRS Notices Two Hawks Consulting, LLC Mon, 31 Mar 2014 04:00:00 +0000 melody.griffin 993665 at http://www.pgdc.com PGDC Contributing Author - Randy Fox http://www.pgdc.com/pgdc/pgdc-contributing-author-randy-fox <!--paging_filter--><p>We are pleased to announce that Randy Fox has joined the PGDC as a contributing author. <span class="read-more"><a href="/pgdc/pgdc-contributing-author-randy-fox" title="Read the rest of PGDC Contributing Author - Randy Fox." rel="nofollow"><strong>Read more &raquo;</strong></a></span></p> <div class="og_rss_groups"></div> http://www.pgdc.com/pgdc/pgdc-contributing-author-randy-fox#comments General Fri, 21 Mar 2014 22:32:36 +0000 Lee Hoffman 993540 at http://www.pgdc.com Revisiting Families and the Transformative Power of Philanthropy http://www.pgdc.com/pgdc/revisiting-families-and-transformative-power-philanthropy <!--paging_filter--><p>An ever increasing number of high net worth households are wanting their advisors to assist them with the philanthropic conversation. But there is a problem! It is not just the ultra wealthy. We have a chance to use the same methods with many families below the unified gift and estate tax exemption. <span class="read-more"><a href="/pgdc/revisiting-families-and-transformative-power-philanthropy" title="Read the rest of Revisiting Families and the Transformative Power of Philanthropy." rel="nofollow"><strong>Read more &raquo;</strong></a></span></p> <div class="og_rss_groups"><ul class="links"><li class="og_links first last"><a href="/g/two-hawks-consulting">Two Hawks Consulting, LLC</a></li> </ul></div> http://www.pgdc.com/pgdc/revisiting-families-and-transformative-power-philanthropy#comments Values-Based Two Hawks Consulting, LLC Fri, 21 Mar 2014 20:13:55 +0000 Lee Hoffman 993537 at http://www.pgdc.com AiP Conference Alert http://www.pgdc.com/pgdc/aip-conference-alert <!--paging_filter--><p>The International Association of Advisors in Philanthropy (AiP) <a href="http://www.advisorsinphilanthropy.org/events/event_details.asp?id=392005">Conference on Philanthropy</a> will take place April 23-25 at the Hilton, Rosemont Hotel near Chicago's O'Hare International Airport. Registration is now open on the <a href="https://advisorsinphilanthropy.site-ym.com/events/register.aspx?id=392005&amp;itemid=fae5f784-af71-42a6-8342-9466530f945f">AiP website</a>. Speakers include Peter Karoff, John A. Warnick, Phil Cubeta and many others. Plan on attending.</p> <div class="og_rss_groups"></div> http://www.pgdc.com/pgdc/aip-conference-alert#comments Mon, 17 Mar 2014 16:47:29 +0000 melody.griffin 993552 at http://www.pgdc.com