1 – Porsche-philes or Wannabe Porsche-philes
2 – OFAC Clarifies Guidance on Humanitarian Assistance to Iran
3 – CRS Report Discusses Whether Contributions to 501(c)(4) Organizations Are Subject to the Gift Tax
Focus on Congress
EO Tax Journal 2012-134
1 – Why are Senate Republicans Writing about IRS ‘Subversion’?
2 – If You Want IRS ‘Subversion,’ Look No Further Than the IRS Office of Chief Counsel
EO Tax Journal 2012-133
1 – Senate Republicans Push Back, But Schumer Decries ‘Unsubtle Threat’
2 – More on Political (c)(4)s (“IRS: Toothless”)
3 – Steve Miller (a/k/a Harry Houdini) Turned Oversight Subcommittee Members into the Amen Chorus
EO Tax Journal 2012-129
John Colombo’s Prepared Hearing Testimony
Today I’m finishing sending out the prepared testimony from last Wednesday’s House Oversight Subcommittee hearing with that of Professor John Colombo. His remarks focused on commercial activity by charities (“a growing phenomenon”) and whether such activity (1) jeopardizes the organization’s tax-exempt status and (2) whether it is subject to tax under the unrelated business income tax provisions. Unfortunately, as he notes and we know, “the income tax rules surrounding commercial activity are confused and contradictory.”
EO Tax Journal 2012-128
1 – The EOTJ Mailbag
2 – Donald Tobin’s Prepared Hearing Testimony
EO Tax Journal 2012-127
1 – Tea Parties on a Roll
2 – Eve Borenstein’s Prepared Hearing Testimony
It’s rare I say a document is a must-read, but I think Eve Borenstein’s prepared testimony for Wednesday’s House Oversight Subcommittee hearing falls into that category. The redesigned Form 990 is an important document, and Eve’s insights and suggestions are of value to all EO tax practitioners, even for those who swear they have never touched a Form 990. There’s a reason even the Chairman of the House Oversight Subcommittee called her the “Queen of the 990.”
3 – Colleges and Universities Blasted at Senate Finance Hearing
EO Tax Journal 2012-126
Yesterday’s House Oversight Subcommittee Hearing on Charities
a – Chairman Boustany’s Opening Statement
b – Ranking Member Lewis’ Opening Statement
c – Steve Miller’s Prepared Testimony
d – Tom Hyatt’s Prepared Testimony
EO Tax Journal 2012-125
1 – Today’s House Oversight Subcommittee Hearing
2 – Excerpt from Report Prepared for Today’s Senate Finance Committee Hearing titled “Education Tax Incentives and Tax Reform”
EO Tax Journal 2012-121
1 – ‘Something Called the Unrelated Business Income Tax’
2 – Boustany Announces Subcommittee Hearing
3 – Auto-Rev List Continues to Grow
4 – Political (c)(4)s — the Gift to Journalists that Keeps on Giving
5 – Tax Court and IRS Tough on Charitable Contributions
EO Tax Journal 2012-120
1 – Another Man Who Must Be Sent to the Guillotine
2 – Grassley Asks AHA Whether ‘It Wants to Continue to Be a Voice for Bad Actors’
EO Tax Journal 2012-119
1 – The LDS Church in the News
2 – The EOTJ Mailbag
3 – CRS Report on DAFs
EO Tax Journal 2012-104
1 – EO’s Recent Work Product (Denials, Revocations, Rulings)
2 – Eleven Republican Senators Critique IRS on Seeking Donor Information
3 – Foundation Source Joins COF in Seeking Rev. Proc. 92-94 Update
EO Tax Journal 2012-103
1 – Mitch McConnell’s Views of the IRS’s EO Function
2 – Summer Reading
3 – Does Federal Law Always Trump State Law?
EO Tax Journal 2012-88
1 – More on 1,300 Tax Lawyers Invade Washington
2 – Remarks of the IRS’s Preston Quesenberry on New Section 501(r) Requirement for Hospitals
3 – Baucus and Burr Quiz Veterans’ Group as Potential ‘Scam Artists’
EO Tax Journal 2012-85
1 – Oversight Hearing Held Yesterday
2 – Views on Nonprofit Governance (Part 2)
EO Tax Journal 2012-83
1 – Witness List for Wednesday’s Hearing
2 – EO’s Recent Work Product (Denials, Revocations, Rulings)
EO Tax Journal 2012-81
1 – Boustany Announces Hearing on Tax Exempt Organizations
2 – Hatch Demands IRS Investigate Potential Leak of Nonprofit’s Confidential Tax Information
3 – ABA Tax Section Recommends Revisions to Rev. Proc. 97-13 on Management Contracts
EO Tax Journal 2012-80
1 – EO’s Recent Work Product (Denials, Revocations, Rulings)
2 – Letter Writing Campaign on Behalf of Equivalency Determination Information Repositories?
3 – Plea for Permanency of IRA Contributions to Public Charities
EO Tax Journal 2012-64
1 – Lois Lerner Will Never Be Lonely as Long as Congress Is in Session
2 – Interview of Celia Roady
EO Tax Journal 2012-47
1 – The EOTJ Mailbag
2 – Latest Health Care Tax Developments
3 – More on Cato Institute
4 – Seven Democratic Senators Issue News Release and Send Another Letter to IRS re Political (c)(4)s
5 – Twelve Republican Senators Issue News Release and Send Letter to IRS re Political (c)(4)s
EO Tax Journal 2012-40
Can a (c)(3) be “owned” by four shareholders? I suppose it can, but read the article about the Cato Institute, reprinted below, and see what you think.
This has not been a good week for the IRS’ Exempt Organizations function. The Service has been taking it on the chin from both Democrats and Republicans over its handling of politicking by (c)(3)s and (c)(4)s; in addition, its handling of applications from nonprofit news organizations continues to come under fire. An article yesterday, reprinted below, gives an excellent summary of the complaints of Tea Party groups. Also yesterday the IRS received the following letter from Rep. Charles Boustany (R-Louisiana) to add to its miseries:
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1 – House Oversight Chairman Seeks Additional Information from the IRS on Tax-Exempt Sector Compliance, as Reports of IRS Questioning Grassroots Political Groups Raises New Concerns
EO Tax Journal 2012-31
1 – The EOTJ Mailbag
2 – Abuse of (c)(3)s on IRS’s Dirty Dozen List
3 – Seven Democratic Senators Ask Whether IRS Investigating Political (c)(4)s
4 – IRS Releases Updated Rules for IRS Communications with Appeals Office
EO Tax Journal 2011-210
1 – House Republicans Still Pushing for IRS Audit of AARP
2 – IRS Defines an Exclusive Island as a “Community,” Ignores Obvious Private Benefit?
EO Tax Journal 2011-189
1 – IRS Trio Reports on Recent Developments
2 – H.R. 3420 to ‘Facilitate’ PRIs by PFs