EO Tax Journal

I’m assuming all readers of this missive subscribe to the IRS’ EO Update, so unless there is something controversial — heaven forbid — I don’t comment on what the IRS has to say. I will say the latest issue (2010-20) is out for anyone who has been napping or, in the case of Bill Brockner, traipsing about Scotland.

In December, 2008, my incredibly shrinking hometown newspaper, the Baltimore Sun, somehow found the resources to do a devastating (for Maryland hospitals) investigative series on hospital debt-collection practices and lack of charity care, which may have been a factor in Congress passing section 501(r). While not as extensive, the Sun has found the resources to do another report on Maryland hospitals, this one focusing on executive compensation, using Form 990 data.

Hospital CEOs Get Seven-figure Salaries, Country Club Memberships

Critics Question Whether Nonprofits Should Pay So Handsomely

By Andrea K. Walker, The Baltimore Sun, August 28, 2010 Continue…

1 – 38 Comments and More Coming? (Notice 2010-39)

2 – IRS’ Role in Overseeing Political Expenditures to Grow? (Washington Post article)

3 – Rare School Case? (Denial Letter 201033039) Continue…

Today I’m sending along excerpts of three news items I found of interest, with my comments in CAPS.

1 – Praying or preying for Terri Schiavo

Gary Snyder’s Nonprofit Imperative (gary.r.snyder@gmail.com) had this item in a recent post. Hopefully the IRS has taken note:

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The New York Times has had two interesting articles in recent days, the second article following an earlier article from the Jewish daily newspaper, Forward. I’m running excerpts of these articles with my comments in CAPS. These articles raise difficult issues under the tax law.

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Something for everyone today.

1 – Pablo Eisenberg Weighs In on Compensation Debate

2 – IRS Seeks Comments on New Section 501(r)

3 – TE/GE Advisory Committee to Meet on June 9

4 – Weekend “Religious” Reading Continue…