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Tax Planning and Compliance for Tax-Exempt Organizations, Fifth Edition 2014 Cumulative Supplement

Book Description

The cumulative supplement to the Tax Planning and Compliance for Tax-Exempt Organizations, 5th Edition

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. This update contains clear-cut answers to all procedural and tax process questions.

Here, you'll find straightforward information on changing Unrelated Business Income (UBI) rules, joint ventures, sponsorships, deductions against UBI, preparation of IRS forms, and more. Includes checklists and complete citations.

Table of Contents

  1. Cover Page
  2. Don't Miss Out on Must-Have and Timely New Information!
  3. Title Page
  4. Copyright
  5. Contents
  6. About the Author
  7. Preface
  8. Part I: Qualifications of Tax-Exempt Organizations
    1. CHAPTER 2: Qualifying Under IRC § 501(c)(3)
      1. § 2.1 Organizational Test
      2. § 2.2 Operational Test
    2. CHAPTER 3: Religious Organizations
      1. § 3.2 Churches
    3. CHAPTER 4: Charitable Organizations
      1. § 4.2 Promotion of Social Welfare
      2. § 4.3 Lessening Burdens of Government
      3. § 4.6 Promotion of Health
    4. CHAPTER 5: Educational, Scientific, and Literary Purposes, and Prevention of Cruelty to Children and Animals
      1. § 5.1 Educational Purposes
    5. CHAPTER 6: Civic Leagues and Local Associations of Employees: § 501(c)(4)
      1. § 6.1 Comparison of (c)(3) and (c)(4) Organizations
      2. § 6.2 Qualifying and Nonqualifying Civic Organizations
      3. § 6.5 Disclosures of Nondeductibility
    6. CHAPTER 7: Labor, Agricultural, and Horticultural Organizations: § 501(c)(5)
      1. § 7.2 Agricultural Groups
    7. CHAPTER 8: Business Leagues: § 501(c)(6)
      1. § 8.2 Meaning of “Common Business Interest”
      2. § 8.3 Line of Business
      3. § 8.4 Rendering Services for Members
    8. CHAPTER 9: Social Clubs: § 501(c)(7)
      1. § 9.4 Revenue Tests
    9. *CHAPTER 10: Instrumentalities of Government and Title-Holding Organizations
      1. § 10.3 Qualifying for § 501(c)(3) Status
    10. CHAPTER 11: Public Charities
      1. § 11.2 “Inherently Public Activity” and Broad Public Support: § 509(a)(1)
      2. § 11.6 Supporting Organizations
  9. Part II: Standards for Private Foundations
    1. CHAPTER 12: Private Foundations—General Concepts
      1. § 12.2 Special Rules Pertaining to Private Foundations
      2. § 12.4 Termination of Private Foundation Status
    2. CHAPTER 13: Excise Tax Based on Investment Income: IRC § 4940
      1. § 13.2 Capital Gains
    3. CHAPTER 14: Self-Dealing: IRC § 4941
      1. § 14.1 Definition of Self-Dealing
      2. § 14.2 Sale, Exchange, or Lease of Property
      3. § 14.3 Loans
      4. § 14.4 Compensation
      5. § 14.7 Sharing Space, People, and Expenses
      6. § 14.9 Property Held by Fiduciaries
      7. § 14.10 Issues Once Self-Dealing Occurs
    4. CHAPTER 15: Minimum Distribution Requirements: IRC § 4942
      1. § 15.1 Assets Used to Calculate Minimum Investment Return
      2. § 15.2 Measuring Fair Market Value
      3. § 15.4 Qualifying Distributions
      4. § 15.6 Satisfying the Distribution Test
    5. CHAPTER 16: Excess Business Holdings and Jeopardizing Investments: IRC §§ 4943 and 4944
      1. § 16.1 Excess Business Holdings
      2. § 16.3 Program-Related Investments
      3. § 16.4 Penalty Taxes
    6. CHAPTER 17: Taxable Expenditures: IRC § 4945
      1. § 17.3 Grants to Individuals
      2. § 17.4 Grants to Public Charities
      3. § 17.5 Grants to Foreign Organizations
  10. Part III: Obtaining and Maintaining Tax-Exempt Status
    1. CHAPTER 18: IRS Filings, Procedures, and Policies
      1. § 18.1 Determination Process
      2. § 18.2 Annual Filing of Forms 990
      3. § 18.3 Reporting Organizational Changes to the IRS
      4. § 18.4 Weathering an IRS Examination
    2. CHAPTER 19: Maintaining Exempt Status
      1. § 19.1 Checklists
    3. CHAPTER 20: Private Inurement and Intermediate Sanctions
      1. § 20.1 Defining Inurement
      2. § 20.2 Salaries and Other Compensation
      3. § 20.8 Services Rendered for Individuals
    4. CHAPTER 21: Unrelated Business Income
      1. § 21.1 IRS Scrutiny of Unrelated Business Income
      2. § 21.5 What Is Unrelated Business Income?
      3. § 21.8 Unrelated Activities
      4. § 21.10 Income Modifications
      5. § 21.12 Debt-Financed Property
      6. § 21.15 Publishing
    5. *CHAPTER 23: Electioneering and Lobbying
      1. § 23.1 Election Campaign Involvement
    6. CHAPTER 24: Deductibility and Disclosures
      1. § 24.1 Overview of Deductibility
      2. § 24.2 Substantiation and Quid Pro Quo Rules
    7. CHAPTER 25: Employment Taxes
      1. § 25.2 Ministers
  11. Index