Tax planning and compliance for tax-exempt organizations : rules, checklists, procedures : 2017 cumulative supplement / Jody Blazek with Amanda Adams.

Format:

Book

Author/Creator:

Blazek, Jody, author.

Adams, Amanda, author.

Series:

Wiley nonprofit authority series.

Wiley nonprofit authority

Language:

English

Subjects (All):

Nonprofit organizations--Taxation--Law and legislation--United States.

Nonprofit organizations.

Tax exemption--Law and legislation--United States.

Tax exemption.

Tax planning--United States.

Tax planning.

Physical Description:

1 online resource (223 pages).

Edition:

Fifth edition.

Place of Publication:

Hoboken, New Jersey : Wiley, [2017]

Summary:

The essential time-saving guide to the latest in nonprofit tax rules, regulations, and procedures 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.

Contents:

Cover

Title Page

Copyright

Contents

Preface

Part I: Qualifications of Tax-Exempt Organizations

Chapter 2: Qualifying Under IRC 501(c)(3)

* 2.2 Operational Test

*Chapter 3: Churches

3.2 Churches

Chapter 4: Charitable Organizations

4.2 Promotion of Social Welfare

* 4.3 Lessening Burdens of Government

4.6 Promotion of Health

Chapter 5: Educational, Scientific, and Literary Purposes, and Prevention of Cruelty to Children and Animals

5.1 Educational Purposes

5.4 Testing for Public Safety

Chapter 6: Civic Leagues and Local Associations of Employees: 501(c)(4)

6.1 Comparison of (c)(3) and (c)(4) Organizations

* 6.2 Qualifying and Nonqualifying Civic Organizations

* 6.4 Neighborhood and Homeowner's Associations

6.5 Disclosures of Nondeductibility

Chapter 8: Business Leagues: 501(c)(6)

8.2 Meaning of "Common Business Interest"

8.3 Line of Business

* 8.4 Rendering Services for Members

Chapter 9: Social Clubs: 501(c)(7)

* 9.1 Organizational Requirements and Characteristics

9.4 Revenue Tests

Chapter 10: Instrumentalities of Government and Title-Holding Organizations

10.2 Governmental Units

* 10.3 Qualifying for 501(c)(3) Status

Chapter 11: Public Charities

11.1 Distinction between Public and Private Charities

11.6 Supporting Organizations 509(a)(3)

Part II: Standards for Private Foundations

Chapter 12: Private Foundations-General Concepts

12.2 Special Rules Pertaining to Private Foundations

12.4 Termination of Private Foundation Status

Chapter 13: Excise Tax Based on Investment Income: IRC 4940

* 13.2 Capital Gains

Chapter 14: Self-Dealing: IRC 4941

14.1 Definition of Self-Dealing

* 14.2 Sale, Exchange, or Lease of Property

14.3 Loans

14.4 Compensation.

14.5 Transactions That Benefit Disqualified Persons

* 14.7 Sharing Space, People, and Expenses

* 14.8 Indirect Deals

14.9 Property Held by Fiduciaries

14.10 Issues Once Self-Dealing Occurs

Chapter 15: Minimum Distribution Requirements: IRC 4942

15.1 Assets Used to Calculate Minimum Investment Return

15.2 Measuring Fair Market Value

* 15.4 Qualifying Distributions

15.6 Satisfying the Distribution Test

Chapter 16: Excess Business Holdings and Jeopardizing Investments: IRC 4943 and 4944\

16.1 Excess Business Holdings

16.2 Jeopardizing Investments

16.3 Program-Related Investments

16.4 Penalty Taxes

Chapter 17: Taxable Expenditures: IRC 4945

17.1 Lobbying

* 17.3 Grants to Individuals

* 17.4 Grants to Public Charities

* 17.5 Grants to Foreign Organizations

17.8 Excise Tax Payable

Part III: Obtaining and Maintaining Tax-Exempt Status

Chapter 18: IRS Filings, Procedures, and Policies

* 18.1 Determination Process

* 18.2 Annual Filing of Forms 990

18.3 Reporting Organizational Changes to the IRS

18.4 Weathering an IRS Examination

* 18.5 When an Organization Loses its Tax-Exempt Status

Chapter 19: Maintaining Exempt Status

19.1 Checklists

Chapter 20: Private Inurement and Intermediate Sanctions

20.1 Defining Inurement

20.2 Salaries and Other Compensation

* 20.4 Finding Salary Statistics

20.8 Services Rendered for Individuals

20.10 Intermediate Sanctions

Chapter 21: Unrelated Business Income

21.1 IRS Scrutiny of Unrelated Business Income

21.4 Definition of Trade or Business

21.5 What Is Unrelated Business Income?

* 21.7 "Substantially Related"

* 21.8 Unrelated Activities

21.10 Income Modifications

* 21.11 Calculating and Minimizing Taxable Income.

21.12 Debt-Financed Property

21.13 Museums

21.15 Publishing

Chapter 23: Electioneering and Lobbying

23.1 Election Campaign Involvement

23.2 Voter Education versus Candidate Promotion

Chapter 24: Deductibility and Disclosures

* 24.1 Overview of Deductibility

24.2 Substantiation and Quid Pro Quo Rules

Chapter 25: Employment Taxes

25.2 Ministers

Index

EULA.

Notes:

Includes index.

Description based on online resource; title from PDF title page (ebrary, viewed March 13, 2017).

ISBN:

1-119-35212-6

1-119-35225-8

OCLC:

975225079