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More About This Title Tax Planning and Compliance for Tax-Exempt Organizations, Fifth Edition 2017 Cumulative Supplement
English
Tax rules and regulations change annually, and nonprofit organizations know that staying compliant means staying up to date. But wading through tax code is less than helpful in the field, whereas the clear, practically oriented instruction inside provides the quick reference accountants, lawyers, and executives need. In the latest edition of Tax Planning and Compliance for Tax-Exempt Organizations, you'll find straightforward information on changing Unrelated Business Income (UBI) rules, joint ventures, sponsorships, deductions against UBI, preparation of IRS forms, and more.
Nonprofit organizations—including health and welfare organizations, colleges and universities, private foundations, churches, libraries, museums, cultural institutions, and other smaller groups—contend daily with the possibility of losing their tax-exempt status. From qualifying and applying for that status, to maintaining and managing it, every nonprofit organization must plan and monitor ongoing procedures, activities, and forms to comply with federal, state, and local regulations.
- Access easy checklists for reporting, compliance, eligibility, and more
- Examine sample bylaws, applications, and forms
- Utilize comparison charts and other visual aids for easy reference
- Review bullet lists that compare what is and what is not acceptable
Tax Planning and Compliance for Tax-Exempt Organizations is an indispensable guide to navigating the complex maze of nonprofit tax rules and regulations.
English
English
PART I QUALIFICATIONS OF TAX-EXEMPT ORGANIZATIONS 1
CHAPTER 2 Qualifying Under IRC § 501(c)(3) 3
*§ 2.2 Operational Test 3
*CHAPTER 3 Churches 5
§ 3.2 Churches 5
CHAPTER 4 Charitable Organizations 7
§ 4.2 Promotion of Social Welfare 7
*§ 4.3 Lessening Burdens of Government 7
§ 4.6 Promotion of Health 8
CHAPTER 5 Educational, Scientific, and Literary Purposes, and Prevention of Cruelty to Children and Animals 19
§ 5.1 Educational Purposes 19
§ 5.4 Testing for Public Safety 20
CHAPTER 6 Civic Leagues and Local Associations of Employees: § 501(c)(4) 21
§ 6.1 Comparison of (c)(3) and (c)(4) Organizations 21
*§ 6.2 Qualifying and Nonqualifying Civic Organizations 22
*§ 6.4 Neighborhood and Homeowner’s Associations 24
§ 6.5 Disclosures of Nondeductibility 24
CHAPTER 8 Business Leagues: § 501(c)(6) 25
§ 8.2 Meaning of “Common Business Interest” 25
§ 8.3 Line of Business 25
*§ 8.4 Rendering Services for Members 26
CHAPTER 9 Social Clubs: § 501(c)(7) 27
*§ 9.1 Organizational Requirements and Characteristics 27
§ 9.4 Revenue Tests 28
CHAPTER 10 Instrumentalities of Government and Title-Holding Organizations 29
§ 10.2 Governmental Units 29
*§ 10.3 Qualifying for § 501(c)(3) Status 29
CHAPTER 11 Public Charities 33
§ 11.1 Distinction between Public and Private Charities 33
*§ 11.2 “Inherently Public Activity” and Broad Public Support § 509(a)(1) 33
§ 11.6 Supporting Organizations § 509(a)(3) 36
PART II STANDARDS FOR PRIVATE FOUNDATIONS 47
CHAPTER 12 Private Foundations—General Concepts 49
§ 12.2 Special Rules Pertaining to Private Foundations 49
§ 12.4 Termination of Private Foundation Status 50
CHAPTER 13 Excise Tax Based on Investment Income: IRC § 4940 55
*§ 13.2 Capital Gains 55
CHAPTER 14 Self-Dealing: IRC § 4941 57
§ 14.1 Definition of Self-Dealing 57
*§ 14.2 Sale, Exchange, or Lease of Property 58
§ 14.3 Loans 60
§ 14.4 Compensation 61
§ 14.5 Transactions That Benefit Disqualified Persons 62
*§ 14.7 Sharing Space, People, and Expenses 63
*§ 14.8 Indirect Deals 64
§ 14.9 Property Held by Fiduciaries 65
§ 14.10 Issues Once Self-Dealing Occurs 65
CHAPTER 15 Minimum Distribution Requirements: IRC § 4942 67
§ 15.1 Assets Used to Calculate Minimum Investment Return 67
§ 15.2 Measuring Fair Market Value 68
*§ 15.4 Qualifying Distributions 68
§ 15.6 Satisfying the Distribution Test 77
CHAPTER 16 Excess Business Holdings and Jeopardizing Investments: IRC §§ 4943 and 4944 81
§ 16.1 Excess Business Holdings 81
§ 16.2 Jeopardizing Investments 83
§ 16.3 Program-Related Investments 84
§ 16.4 Penalty Taxes 86
CHAPTER 17 Taxable Expenditures: IRC § 4945 87
§ 17.1 Lobbying 87
*§ 17.3 Grants to Individuals 88
*§ 17.4 Grants to Public Charities 91
*§ 17.5 Grants to Foreign Organizations 94
§ 17.8 Excise Tax Payable 126
PART III OBTAINING AND MAINTAINING TAX-EXEMPT STATUS 127
CHAPTER 18 IRS Filings, Procedures, and Policies 129
*§ 18.1 Determination Process 129
*§ 18.2 Annual Filing of Forms 990 141
§ 18.3 Reporting Organizational Changes to the IRS 148
§ 18.4 Weathering an IRS Examination 149
*§ 18.5 When an Organization Loses its Tax-Exempt Status 150
CHAPTER 19 Maintaining Exempt Status 169
§ 19.1 Checklists 169
CHAPTER 20 Private Inurement and Intermediate Sanctions 175
§ 20.1 Defining Inurement 176
§ 20.2 Salaries and Other Compensation 177
*§ 20.4 Finding Salary Statistics 177
§ 20.8 Services Rendered for Individuals 178
§ 20.10 Intermediate Sanctions 178
CHAPTER 21 Unrelated Business Income 179
§ 21.1 IRS Scrutiny of Unrelated Business Income 179
§ 21.4 Definition of Trade or Business 180
§ 21.5 What Is Unrelated Business Income? 180
*§ 21.7 “Substantially Related” 180
*§ 21.8 Unrelated Activities 182
§ 21.10 Income Modifications 185
*§ 21.11 Calculating and Minimizing Taxable Income 186
§ 21.12 Debt-Financed Property 187
§ 21.13 Museums 188
§ 21.15 Publishing 188
CHAPTER 23 Electioneering and Lobbying 189
§ 23.1 Election Campaign Involvement 189
§ 23.2 Voter Education versus Candidate Promotion 189
CHAPTER 24 Deductibility and Disclosures 191
*§ 24.1 Overview of Deductibility 191
§ 24.2 Substantiation and Quid Pro Quo Rules 195
CHAPTER 25 Employment Taxes 197
§ 25.2 Ministers 197
Index 201
