Posts Categorized: IRS

Who's Protecting My Donation from a “Significant Diversion”?

Donors around the country are asking themselves that since The Washington Post published a series of articles reporting that more than 1,000 nonprofit organizations have reported a “significant diversion” of assets since 2008. A significant diversion is one that is more than the lesser of $250,000 or 5% of an organization’s gross receipts or total …

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IRS Warns of Pervasive Phone Scam

October 31, 2013 Posted by Jessica Shofler in IRS, News, Scams
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You may encounter something even scarier than Halloween today. The IRS is warning about a sophisticated phone scam targeting taxpayers around the country. The scammers tell people that they owe money to the IRS and that it must be paid immediately using a debit card or wire transfer. If the victim refuses to cooperate, the …

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Extending Time for Charitable Donations

Have you ever experienced the anxiety of making all of your charitable donations before December 31? The Charitable Giving Extension Act, introduced by House Ways and Means Committee member Mike Kelly (R-Pa), would allow you to focus on present giving during December. The Act would allow individuals to treat charitable donations made until April 15 …

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Employee Benefits Follow-Up

October 9, 2013 Posted by Jessica Shofler in Employment Matters, IRS, News

Last week, our guest blogger Christine Roberts explained the impact the recent Supreme Court ruling on the Defense of Marriage Act has on employee benefit plans. Since that blog, the IRS and U.S. Department of Labor (“DOL”) have both issued written guidance about this matter. Christine is back guest blogging with us this week to …

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Exempt Org Law Turns 100

October 3, 2013 Posted by Jessica Shofler in IRS, News

The original version of today’s section 501(c)(3) (which governs charitable organizations) was signed into law on October 3, 1913. The original law has been expanded since 1913, with additions of recognizing exemption for literary organizations, organizations that prevent cruelty to children or animals, organizations that test for public safety, and organizations that foster national or …

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