Jack Owen’s Tax Exempt Alert – March 2023
At the March 14, 2023, Pittsburgh Planned Giving Council (“PPGC”) members’ meeting, I discussed some updates mostly to Pennsylvania and local tax matters, with some federal mixed in. The updates affecting nonprofit charitable organizations are as follows: At the last PPGC meeting on January 10, 2023, we discussed the significant SECURE 2.0 changes as part Read More
Read MoreJack Owen’s Tax-Exempt Alert February 2023
Property Tax Developments in Pittsburgh and Allegheny County Over the years, there have been numerous challenges to the tax-exempt status of real estate owned by Pennsylvania tax-exempt charities. This trend continues, especially in the City of Pittsburgh which has recently stated that the City will audit tax-exempt properties on a parcel-by-parcel basis. In late January, Read More
Read MoreJack Owen’s Tax-Exempt Alert WINTER 2023
At a recent meeting of our local planned giving council, I discussed some year end surprises in new legislation commonly known as “SECURE 2.0”, a part of the Consolidated Appropriations Act of 2023 (“CAA”). While many CAA provisions affect retirement plans, a few affect charitable giving. This legislation was signed into law by President Biden Read More
Read MoreJack Owen’s Tax-Exempt Alert NOVEMBER 2022
The IRS recently announced the new annual qualified retirement plan benefit limits for 2023. Set forth in the table below is a summary of the most relevant new limits for 2021 – 2023. These lists are mainly of interest to those of you familiar with retirement plans. If you do not understand the types of Read More
Read MoreJack Owen’s Tax-Exempt Alert AUGUST 2022
At the July 26, 2022, meeting of the Pittsburgh Planned Giving Council, I discussed a recent Tax Court case where a donor lost a $400K plus charitable tax deduction. In Albrecht v. Commissioner, TC Memo 2022-53, the taxpayer donated Native American jewelry and artifacts to the Wheelwright Museum of the American Indian. The IRS challenged Read More
Read MoreThe Universe of Tax-Exempt Entities
The Universe of Tax-Exempt Entities – How to Choose between Classifications and to How Know When and How to Structure Affiliations for Compliance. Pennsylvania Bar Institute By Morgen Cheshire, Esq. and Jack R. Owen, III, Esq.
Read MoreJack Owen’s Tax-Exempt Alert NOVEMBER 2021
2022 Changes in Annual Qualified Retirement Plan Benefit Limits The IRS recently announced the new annual qualified retirement plan benefit limits for 2022. Set forth in the table below is a summary of the most relevant new limits for 2020 – 2022. These lists are mainly of interest to those of you familiar with retirement Read More
Read MoreJack 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
Read MoreJack 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
Read MoreJack 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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