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For many charitable organizations classified as a public charity, reclassification as a private foundation can have significant implications for sustainability and mission accomplishment. In this article, North Carolina-based CPA and philanthropic consultant... |
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Writing for Trusts & Estates, attorney Conrad Teitell tells advisors it is a good time to remind clients to substantiate their charitable contribution deductions prior to filing their 2011 income tax returns and provides a sample letter to help advisors... |
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What do charitable giving and Medicaid have in common? As it turns out, quite a bit. Writing on behalf of the National Academy of Elder Law Attorneys, Springfield, Massachusetts lawyer Hyman Darling, CELA discusses the issues that surround individuals making... |
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A crucial filing deadline of Oct. 15 is looming for many tax-exempt organizations that are required by law to file their Form 990 with the Internal Revenue Service or risk having their federal tax-exempt status revoked. Nonprofit organizations that are at risk can... |
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Appraiser Alan Breus, CLU, ChFC has responded in opposition to an insurer's recommendation to Treasury that it adopt a policy of accepting a "fair market value statement" from the issuing life insurance company as a qualified appraisal when valuing inforce... |
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Following a meeting with Treasury officials, representatives of MassMutual Financial Group have requested that Treasury adopt a policy of accepting a "fair market value statement" from the issuing life insurance company as a qualified appraisal from a... |
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According to an article in the February 11, 2009 issue of the New York Times, private foundations that invested with Bernard Madoff might lose more than their investments. Private foundations and certain charitable trusts (along with their managers/trustees) might be... |
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In a news story published on its website, the United Church of Christ has announced it has received notice from the IRS that it is initiating a church tax inquiry "because reasonable belief exists that the United Church of Christ has engaged in political... |
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AICPA has issued guidance for members who prepare fiduciary income tax returns to comply with the Supreme Court's decision in Knight v. CIR, aff'ing Rudkin Testamentary Trust v. CIR, with respect to deducting trust administrative costs on 2007 Form 1041. With respect... |
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Following passage of the PPA 2006 and the first "Charitable IRA Rollover," the two most significant questions on advisors' minds have been how taxpayers will exclude qualified charitable distributions on their income tax returns and whether or not IRA custodians will... |
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The September 11, 2001 terrorist attacks on the United States resulted in new laws under which U.S. grant making nonprofits risk criminal prosecution, civil penalties and the freezing of their assets if they are found to have made grants to foreign or domestic... |
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Many of today's donors desire to designate their charitable contributions for specific purposes or to impose other conditions on these gifts. These conditions and restrictions are usually well-intended efforts to ensure that a donor's wishes are carried out by the... |
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In a report dated January 7, the Congressional Research Service gave an overview of the application process for charities and other entities seeking tax exemption under section 501(c)(3). |
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Given all the attention by the Courts and Congress regarding the valuation of charitable contributions of art, instruments, and autos, PGDC Editorial Board member Vaughn W. Henry discusses the estate of artist Georgia O'Keeffe and its application of "blockage discount... |
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Reviews the estate tax charitable deduction, qualifying recipients, conditions and limitations, qualifying partial interests, and reformation rules. |
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In this edition of Gift Planner's Digest, Vaughn W. Henry and Johni Hays, advisers specializing in trusts and estates and gift planning, discuss ten charitable planning mistakes that tax practitioners should avoid in designing and implementing charitable trusts of... |
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It has been said that only a fool learns only from his own mistakes. In this edition of Gift Planner's Digest, trust administrator Chuck McLucas shares ten of the most common mistakes he has encountered in connection with the design and operation of charitable trusts. |
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This article reviews various issues surrounding supporting organizations, donor advised funds and charitable family limited partnerships as outlined by the IRS in its latest Continuing Professional Education Text. The IRS describes the element of control in these... |
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"In this week's edition of Gift Planner's Digest, Los Angeles attorney David Wheeler Newman reviews the private foundation excise tax rules regarding prohibited acts of self-dealing and how they apply to charitable remainder trusts and charitable lead trusts." |
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Recent activity
Insurer Makes Recommendations Regarding Qualified Appraisals for Donated Inforce Life Insurance Policies
Heard on the Web: Madoff Scandal May Implicate Jeopardizing Investment Tax Rules
The Top Ten" Common Errors to Avoid in Charitable Trust Planning"
IRS to Investigate Church's Political Activities
IRS Explains How To Report Charitable IRA Exclusion" on 2006 Income Tax Returns"