Transcripts (Other)

Come Fall, we’ll have a number of interesting programs coming our way – to be reported on here if you are unable to attend in person. But first, it’s time to wrap up any loose ends from the first half of this year. Today I have our final transcript from the annual Georgetown Law EO program. I won’t say we have saved the best for last, lest I offend those who participated in other sessions, but I can say, for those who weren’t there, it’s been worth the wait, and the discussion is as timely as it was in April.

Current Trends in State Charity Regulation

What follows are the April 23 remarks of Eric Carriker, Massachusetts Office of the Attorney General, Cindy Lott, Columbia Law School, New York, and Mark Pacella, Pennsylvania Office of the Attorney General, to attendees at the annual Georgetown Law program on “Representing & Managing Tax-Exempt Organizations.” The moderator of the session is Celia Roady of Morgan Lewis & Bockius, Washington, D.C.

1 – Are You Willing to Die to Save on Taxes?

The current state of the estate tax remains in the news because when you die may make a big difference. The top estate tax rate in 2009 was 45%. Those who die in 2010 face no estate tax but have a carryover basis system. For 2011, if nothing happens, the top estate tax rate will be 55%. So when would you like to die or, better, your rich uncle?

The current issue of Charitable Gift Planning News(contactcgpn@aol.com) has this interesting, although morbid, comment: “Will the difference between no estate tax for a 2010 death, and a substantial tax upon death in 2011, prompt estate holders to ponder suicide (and heirs to think about murder)? The United States is a big country, with many millions of people, and we can expect some macabre stories of this sort to emerge as year-end approaches.”

My comment: Finally, an advantage to being a poor boy.

2 – Day Two of Georgetown Law’s EO Program

Now that I’ve finished sending out the ABA transcripts, I can get back to where I left off with the annual Georgetown EO program.

Today I have Part 2 of a recent D.C. Bar discussion on the interim IRS report on colleges and universities; Part 2 is a transcript of the remarks of Carolyn O. (Morey) Ward. Hopefully, we will have Part 3 on Monday, but we are having some problems transcribing the remarks of Theresa Pattara, as she was the speaker farthest from my tape recorder and there were no microphones set up for the meeting. Yesterday I had the remarks of the three IRS speakers.

Today I have the first half of a recent D.C. Bar discussion on the interim IRS report on colleges and universities. I should have the rest of the story tomorrow.

1 – More on ACT Committee

2 – Intermediate Sanctions Update (Remarks of Doug Mancino and Marc Owens)
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Today I have the April 22 remarks of Nan Downing, Director, EO Examinations. I believe this is her first major speech as director. Since many of you read these updates while traveling or commuting, I think you’ll find the headers helpful so you can read only what interests you. Next week I expect to have a transcript of the remarks of Doug Mancino and Marc Owens, who followed Nan’s session. They gave their perspective of IRS audit activities, not all favorable, so stay tuned.

IRS’ Steve Clarke Addresses Current Form 990 Issues

Chandler: Welcome to the National Council of Nonprofits Webinar on the Redesigned IRS Form 990. The new form has raised many questions for nonprofits, and we’re fortunate that in a moment we’ll be hearing from a tax specialist with the IRS who will be sharing with us some of the lessons learned from the redesigned 990 and highlighting some mistakes to help us avoid those mistakes as well as to help us determine what each of our organizations should do in order to file a complete and accurate return.

As promised, here’s a transcript of Sarah Hall Ingram’s February 5 remarks. Sarah continues the tradition of the TE/GE Commissioner (and before that, the AC (EP/EO) being primarily an Employee Plans person. I think that reflects the fact that Exempt Organizations is #2 in the TE/GE hierarchy. I guess that’s better than being #3 (Government Entities).

As promised yesterday, here’s Cindy, Bobby, and Rob, with a cameo appearance by Sarah Hall Ingram.

IRS Trio Address Current EO Concerns

What follows are the February 5 remarks of the IRS’ Rob Choi, Director, EO Rulings & Agreements, Washington, Cindy Thomas, Manager, EO Determinations, Cincinnati, and Bobby Zarin, Director, Customer Education & Outreach, Washington, as delivered at the annual Joint Meeting of TE/GE Area Councils in Baltimore.