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Jack Owen’s Tax-Exempt Alert JULY 2021

An important U.S. Supreme Court case was decided on July 1, 2021, Americans for Prosperity Foundation v. Bonta, involving California’s requirement that organizations making charitable solicitations file Schedule B to IRS Form 990, providing unredacted information on substantial contributors. The Court reversed an appeals court ruling in favor of California and finding that California’s requirement Read More

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Jack Owen’s Tax-Exempt Alert MARCH 2021

Allentown, PA Could Not Impose Business Privilege Tax on Charity There are not too many PA taxing bodies that impose business privilege taxes (the “BPT”). In a recent case of the PA Commonwealth Court, the Court ruled that the City of Allentown could not collect more than $780,000 in BPTs from a “purely public charity”. Read More

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Jack Owen’s Tax-Exempt Alert JANUARY 2021

Last year, Congress passed the CARES Act in response to the Covid-19 pandemic. Under the CARES Act, donors who are otherwise not able to itemize deductions in 2020 may be able to take a charitable deduction of up to $300 for cash contributions made in 2020. The Consolidated Appropriations Act (“CAA”) signed into law on Read More

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Jack Owen’s Tax-Exempt Alert NOVEMBER 2020

It is not uncommon for charitable organizations to have suffered financial difficulties this year due to the Covid-19 pandemic. Many charitable organizations at this time of year will look to the generosity of donors to help provide the additional vital resources needed so they can continue to unselfishly serve others. During this holiday season, charitable Read More

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Jack Owen’s Tax-Exempt Alert OCTOBER 2020

2021 Changes in Annual Qualified Retirement Plan Benefit Limits The IRS recently announced the new annual qualified retirement plan benefit limits for 2021. Set forth in the table below is a summary of the most relevant new limits for 2019 – 2021. These lists are mainly of interest to those of you familiar with retirement Read More

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Jack Owen’s Tax-Exempt Alert AUGUST 2020

Surprising Pennsylvania Response to Pandemic and Economic Downturn On July 23, 2020, Governor Wolf signed into law H. B. 2484, Act 71 of 2020, which permits increased payouts from endowment funds to charities and expands the standing of donors.   This legislation was passed in response to pressure from charities to spend more from their endowments Read More

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Should Our Nonprofit Dissolve, Merge or Restructure in these Difficult Times?

The COVID- 19 Pandemic and its economic fallout have affected some Pennsylvania nonprofits to the extent that they may wonder about survival. There are a number of corporate restructure possibilities to consider before an organization reaches a point of no return. Here is a quick overview of some options. A joint venture, in which two Read More

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Jack Owen’s Tax-Exempt Alert JUNE 2020

Much has happened in the world since March 1, 2020.  Since that time, we have seen a pandemic, significant stock market and employment losses, a recovery in the stock market and in employment, and protests.  Much legislation and regulations have been passed in response, and I reported on the following items at a meeting of Read More

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Jack Owen’s Tax-Exempt Alert APRIL 2020

Given the current COVID-19 pandemic, recent legislation has been passed to assist individuals and employers with the impact.  One piece of legislation, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), has the following provisions which may be of benefit to tax-exempt organizations: As noted in our March Tax-Exempt Alert, the CARES Act is Read More

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Jack Owen’s Tax-Exempt Alert MARCH 2020

National News The U.S. House of Representatives passed the $2 Trillion Coronavirus Aid, Relief, and Economic Security (CARES Act) on Friday March 27, 2020. The Senate previously voted unanimously to pass the bill, and President Trump also signed the bill on March 27, 2020.  The legislation will provide assistance to workers and businesses that have Read More

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