Tax Planning and Compliance for Tax-Exempt Organizations, 2024 Cumulative Supplement

An essential resource for the legal and finance professionals serving US-based tax-exempt organizations In the 2024 Cumulative Supplement to the latest edition of Tax Planning and Compliance for Tax-Exempt Organizations, a team of dedicated legal and accounting professionals delivers a timely and current discussion of the latest rules, pronouncements, legislation, and regulations affecting tax-exempt entities. In this Supplement, you'll discover clear and fully cited and supported descriptions of the requirements for a variety of categories of tax-exempt organizations, including public charities, private foundations, civic associations, business leagues, and social clubs. In this update, you'll find: Coverage of every relevant and significant change to the taxation law governing tax-exempt organizations Various sample documents and practice aids to save time and energy in the preparation of this year's financial documents Practical guidance on the potential for income tax on revenue-producing enterprises Perfect for accountants, lawyers, executives, directors, and volunteers serving one of the many tax-exempt entities in the United States, Tax Planning and Compliance for Tax-Exempt Organizations: 2024 Cumulative Supplement is also an essential resource for consultants, managers, and other professionals working in or for tax-exempt organizations.

List of Exhibits ix Preface xiii About the Author xv Acknowledgments xvii Chapter 1 Distinguishing Characteristics of Tax- Exempt Organizations 1 Chapter 1.3 2 Chapter 1.4 Role of the Internal Revenue Service 6 Chapter 1.5 Suitability as an Exempt Organization 8 Chapter 3 Religious Organizations 9 Chapter 4 Charitable Organizations 13 4.6 Promotion of Health 13 Chapter 5 Educational, Scientific, and Literary Purposes and Prevention of Cruelty to Children and Animals 17 5.1 Educational Purposes 17 5.5 Fostering Amateur Sports Educational Purposes 18 Chapter 6 Civic Leagues and Local Associations of Employees: § (c)(4) 21 § 6.2 Qualifying and Nonqualifying Civic Organizations 22 Chapter 6.2 Qualifying and Nonqualifying Civic Organizations 24 6.4 Neighborhood and Homeowner’s Associations 27 6.5 Disclosures of Nondeductibility 27 Chapter 9 Social Clubs 29 9.1 Organizational Requirements and Characteristics 29 Chapter 11 Public Charities 31 11.2a Donor Advised Funds 31 Chapter 12 Private Foundations— General Concepts 35 § 12.1 Why Private Foundations Are Special 35 12.4 Termination of Private Foundation Status 39 Chapter 18 IRS Filings, Procedures, and Policies 41 Chapter 24 Deductibility and Disclosures 43 24.1 Overview of Deductibility 43 24.6 Inflation Reduction Act 44 Chapter 25 Employment Taxes 45 Chapter 27 Cryptocurrency 47 § 27.1 What Is Cryptocurrency? 47 § 27.2 What Are the Various Kinds of Cryptocurrency? 48 § 27.3 Should Nonprofits Be Involved in Cryptocurrency? 50 § 27.4 Cryptocurrencies and the Internal Revenue Service 52 Table of Cases 63 Table of IRS Revenue Rulings 75 Table of IRS Procedures 81 Index 83