Tax Planning and Compliance for Tax-Exempt Organizations, 2024 Cumulative Supplement

An essential resource for the legal and finance professionals serving US-based tax-exempt organizationsIn the 2024 Cumulative Supplement to the latest edition of Tax Planning and Compliance for Tax-Exempt Organizations, a team of dedicated legal and accounting professionals delivers a timely and current discussion of the latest rules, pronouncements, legislation, and regulations affecting tax-exempt entities. In this Supplement, you'll discover clear and fully cited and supported descriptions of the requirements for a variety of categories of tax-exempt organizations, including public charities, private foundations, civic associations, business leagues, and social clubs.In this update, you'll find: Coverage of every relevant and significant change to the taxation law governing tax-exempt organizations Various sample documents and practice aids to save time and energy in the preparation of this year's financial documents Practical guidance on the potential for income tax on revenue-producing enterprises Perfect for accountants, lawyers, executives, directors, and volunteers serving one of the many tax-exempt entities in the United States, Tax Planning and Compliance for Tax-Exempt Organizations: 2024 Cumulative Supplement is also an essential resource for consultants, managers, and other professionals working in or for tax-exempt organizations.

Texte du rabat

"This book is an indispensable guide to navigating the complex maze of nonprofit tax rules and regulations. A clear and fully cited description of the requirements for the various categories of tax-exempt entities from public charities, private foundations, civic associations, business leagues, and social clubs to title-holding companies and governmental entities can be found. Practical guidance on potential for income tax on revenue-producing enterprises along with explanations of many exceptions to taxability is provided. Issues raised by Internet activity, advertising, publishing, providing services, and much more are explained. This useful annual supplement for 2024 will cover any and all changes and updates to the law within the previous 12 month period and will keep accountants, attorneys, and others up-to-date for the year ahead"--

Contenu

List of Exhibits ix

Preface xiii

About the Author xv

Acknowledgments xvii

Chapter 1 Distinguishing Characteristics of Tax- Exempt Organizations 1

Chapter 1.3 2

Chapter 1.4 Role of the Internal Revenue Service 6

Chapter 1.5 Suitability as an Exempt Organization 8

Chapter 3 Religious Organizations 9

Chapter 4 Charitable Organizations 13

4.6 Promotion of Health 13

Chapter 5 Educational, Scientific, and Literary Purposes and Prevention of Cruelty to Children and Animals 17

5.1 Educational Purposes 17

5.5 Fostering Amateur Sports Educational Purposes 18

Chapter 6 Civic Leagues and Local Associations of Employees: § (c)(4) 21

§ 6.2 Qualifying and Nonqualifying Civic Organizations 22

Chapter 6.2 Qualifying and Nonqualifying Civic Organizations 24

6.4 Neighborhood and Homeowner's Associations 27

6.5 Disclosures of Nondeductibility 27

Chapter 9 Social Clubs 29

9.1 Organizational Requirements and Characteristics 29

Chapter 11 Public Charities 31

11.2a Donor Advised Funds 31

Chapter 12 Private Foundations- General Concepts 35

§ 12.1 Why Private Foundations Are Special 35

12.4 Termination of Private Foundation Status 39

Chapter 18 IRS Filings, Procedures, and Policies 41

Chapter 24 Deductibility and Disclosures 43

24.1 Overview of Deductibility 43

24.6 Inflation Reduction Act 44

Chapter 25 Employment Taxes 45

Chapter 27 Cryptocurrency 47

§ 27.1 What Is Cryptocurrency? 47

§ 27.2 What Are the Various Kinds of Cryptocurrency? 48

§ 27.3 Should Nonprofits Be Involved in Cryptocurrency? 50

§ 27.4 Cryptocurrencies and the Internal Revenue Service 52

Table of Cases 63

Table of IRS Revenue Rulings 75

Table of IRS Procedures 81

Index 83