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Explains the federal tax law for organizations such as charities and churches that receive tax-deductible charitable contributions, and for taxpayers who make contributions.
Under the Pension Protection Act of 2006 (PPA), the rules for public disclosure of the Form 990-T by public charities and private foundations became identical to those for Form 990.
Which forms are affected?
Any Form 990-T filed after August 17, 2006.
What are the public disclosure…
What is the Sarbanes-Oxley Act?
The Sarbanes-Oxley Act of 2002 was designed to rebuild public trust in the corporate community in the wake of the Enron scandal and other corporate and accounting scandals. Sarbanes-Oxley requires publicly traded companies to adhere to governance standards that…
The following content was writen by Michael Seltzer and originally appeared in Philanthropy News Digest, a service of Candid.
While media outlets — both online and print — have been quick to offer suggestions as to how individuals should channel their charitable impulses to help…
Suzanne Friday, Senior Legal Counsel and Vice President of Legal Affairs at the Council, discussed the goals and motivations driving corporate giving, with a particular focus on corporate foundations.
After a brief review of the applicable legal rules, they discuss how corporate foundations can…
Responding to requests from the Council on Foundations and Independent Sector, the Internal Revenue Service on December 4, 2006 issued interim guidance on several of the donor-advised fund issues arising from the Pension Protection Act of 2006. The IRS notice is available at http://www.irs.gov/pub/…
Moved by widely publicized human suffering and increased disaster aid requests, foundations and corporations are becoming more active in the disaster relief field. Grantmakers have a distinct role to play in disasters because of their ongoing relations with grantees, long-term perspective,…
In the aftermath of a disaster or in other emergency hardship situations, individuals, employers, and corporations are often interested in providing assistance to victims through a charitable organization. The IRS provides a number of resources to help those involved in providing disaster relief…