Jody Blazek - Tax Planning and Compliance for Tax-Exempt Organizations

1 Cover

2 Title Page Wiley Nonprofit Authority

3 Copyright

4 Preface

5 PART I: Qualifications of Tax-Exempt Organizations CHAPTER 1: Distinguishing Characteristics of Tax-Exempt Organizations § 1.4 Role of the Internal Revenue Service § 1.8 Developments Responding to COVID-19 Notes CHAPTER 2: Qualifying Under IRC § 501(c)(3) § 2.2 Operational Test Notes CHAPTER 3: Religious Organizations § 3.2 Churches Notes CHAPTER 4: Charitable Organizations § 4.1 Relief of the Poor § 4.3 Lessening the Burdens of Government § 4.5 Advancement of Education and Science § 4.6 Promotion of Health Notes CHAPTER 5: Educational, Scientific, and Literary Purposes and Prevention of Cruelty to Children and Animals § 5.1 Educational Purposes Note CHAPTER 6: Civic Leagues and Local Associations of Employees: § 501(c)(4) § 6.2 Qualifying and Nonqualifying Civic Organizations Notes CHAPTER 9: Social Clubs: § 501(c)(7) § 9.1 Organizational Requirements and Characteristics § 9.4 Revenue Tests Notes CHAPTER 10: Instrumentalities of Government and Title-Holding Corporations § 10.6 Requirements for IRC §501(c)(8) and (c)(10) Notes CHAPTER 11: Public Charities § 11.2 “Inherently Public Activity” and Broad Public Support: § 509(a)(1) § 11.5 Difference Between § 509(a)(1) and § 509(a)(2) § 11.9 Supporting Organization: § 509(a)(3) Notes

6 PART II: Standards for Private Foundations CHAPTER 12: Private Foundations—General Concepts § 12.4 Termination of Private Foundation Status Note CHAPTER 13: Excise Tax Based on Investment Income: IRC §4940 § 13.2 Capital Gains Notes CHAPTER 14: Self-Dealing: IRC § 4941 § 14.2 Sale, Exchange, or Lease of Property § 14.5 Transactions That Benefit Disqualified Persons Notes CHAPTER 15: Minimum Distribution Requirements: IRC § 4942 § 15.1 Assets Used to Calculate Minimum Investment Return § 15.2 Measuring Fair Market Value § 15.4 Qualifying Distributions Notes CHAPTER 16: Excess Business Holdings and Jeopardizing Investments: IRC §§ 4943 and 4944 § 16.1 Excess Business Holdings § 16.2 Jeopardizing Investments Notes CHAPTER 17: Taxable Expenditures: IRC § 4945 § 17.3 Grants to Individuals § 17.4 Grants to Public Charities Notes

7 PART III: Obtaining and Maintaining Tax-Exempt Status CHAPTER 18: IRS Filings, Procedures, and Policies § 18.1 IRS Determination Process § 18.2 Annual Filing of Forms 990 § 18.2 Annual Filing of Forms 990 § 18.3 Reporting Organizational Changes to the IRS § 18.4 Weathering an IRS Examination Notes CHAPTER 19: Maintaining Exempt Status § 19.1 Checklists CHAPTER 20: Private Inurement and Intermediate Sanctions § 20.2 Salaries and Other Compensation § 20.10 Intermediate Sanctions § 20.11 New § 4960 Excise Tax on Excess Compensation Notes CHAPTER 21: Unrelated Business Income § 21.4 Definition of Trade or Business § 21.8 Unrelated Activities § 21.10 Income Modifications § 21.11 Calculating and Minimizing Taxable Income Notes CHAPTER 23: Electioneering and Lobbying § 23.3 Tax on Political Expenditures Note CHAPTER 24: Deductibility and Disclosures § 24.1 Overview of Deductibility § 24.2 The Substantiation and Quid Pro Quo Rules § 24.3 Valuing Donor Benefits Notes CHAPTER 25: Employment Taxes § 25.1 Distinctions Between Employees and Independent Contractors § 25.3 Reporting Requirements Notes CHAPTER 27: Cryptocurrency § 27.1 What Is Cryptocurrency? § 27.2 What Are the Various Kinds of Cryptocurrency? § 27.3 Should Nonprofits Be Involved in Cryptocurrency? § 27.4 Cryptocurrencies and the Internal Revenue Service Notes

8 Index

9 End User License Agreement

1 Cover

2 Table of Contents

3 Title Page Wiley Nonprofit Authority

4 Copyright

5 Preface

6 Begin Reading

7 Index

8 End User License Agreement

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Wiley Nonprofit Authority

sixth edition

Rules, Checklists, Procedures

Jody Blazek

Copyright © 2022 by John Wiley & Sons, Inc. All rights reserved.

Published by John Wiley & Sons, Inc., Hoboken, New Jersey.

Published simultaneously in Canada.

No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, (978) 750-8400, fax (978) 646-8600, or on the Web at www.copyright.com. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, (201) 748-6011, fax (201) 748-6008, or online at http://www.wiley.com/go/permissions.