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
Read MoreJack Owen’s Tax-Exempt Alert FEBRUARY 2020
Jack Owen’s Tax-Exempt Alert FEBRUARY 2020 By Michael Dutkovich, Esq. Congress recently passed legislation repealing part of the Tax Cut and Jobs Act which required tax-exempt organizations, including churches and schools, to pay an unrelated business income tax (“UBIT”) on parking benefits provided to employees of these tax-exempt organizations. This repeal is of significant benefit Read More
Read MoreJack Owen’s Tax-Exempt Alert JANUARY 2020
New changes come with a new year. Here are a few of the changes in the law relevant to nonprofit organizations. Transportation Fringe Benefits With President Trump’s signing of the federal government spending bill on December 20, 2020, the legislation repealed the Internal Revenue Code provision requiring transportation fringe benefits such as parking and transit Read More
Read MoreJack Owen’s Tax-Exempt Alert NOVEMBER 2019
2020 Changes in Annual Qualified Retirement Plan Benefit Limits The IRS recently announced the new annual qualified retirement plan benefit limits for 2020. Set forth in the table below is a summary of the most relevant new limits for 2018 – 2020. These lists are mainly of interest to those of you familiar with retirement Read More
Read MoreJack Owen’s Tax-Exempt Alert SEPTEMBER 2019
At a recent meeting of the Pittsburgh Planned Giving Council, I reported on the following newsworthy items: 1. The bipartisan Legacy IRA Rollover Bill (H.R. 1337) was discussed. This proposed legislation will encourage charitable giving, and expand the existing IRA charitable rollover provisions, by enabling senior citizens to make tax free transfers from IRA’s to charities Read More
Read MoreJack Owen’s Tax-Exempt Alert JULY 2019
At the PPGC meeting on Tuesday July 9, 2019, I reported on several somewhat surprising updates occurring through June 30, 2019. The five items I reported on are as follows: The Taxpayer First Act (“TFA”) was signed by President Trump on July 1, 2019. This legislation purports to reform the IRS and was a bipartisan Read More
Read MoreJack Owen’s Tax-Exempt Alert MAY 2019
17th Annual Nonprofit Institute For the 7th consecutive year, I participated on the faculty for the Pennsylvania Bar Institute’s Annual Nonprofit Institute. It is always a whirlwind trip with much learning happening in the space of a very short time. One of the best parts of the Institute is getting caught up on recent developments in the Read More
Read MoreJack Owen’s Tax-Exempt Alert MARCH 2019
At the meeting of the Pittsburgh Planned Giving Council on Tuesday March 12, 2019, I reported on several updates in the first quarter of 2019. The four items I reported on are as follows: Unrelated Business Tax Inclusion for Parking. The Tax Cuts and Jobs Act (“TCJA”) included a new provision which imposes the unrelated Read More
Read MoreJack Owen’s Tax-Exempt Alert JANUARY 2019
At the PPGC meeting on Tuesday January 8, 2019, I reported on several updates from the end of 2018 as well as some lessons learned in recent year-end tax planning. This news applies to taxpayer-donors as well as tax-exempt organizations. The five items I reported on are as follows: 1. Bunching. We previously discussed the Read More
Read MoreWhere health law intersects with nonprofit/tax-exempt law
Where health law intersects with nonprofit/tax-exempt law
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