Tax Compliance for Tax-Exempt Organizations provides a detailed analysis of the federal laws affecting tax-exempt organizations and the tax treatment of donors to such organizations. It is intended to provide guidance to tax-exempt organizations and their tax advisors concerning the various tax compliance issues that may arise and the preparation of the numerous tax forms that must be filed with the Internal Revenue Service by tax-exempt organizations. As such, the book provides guidance to legal, accounting and finance professionals, as well as tax return preparers. Even though this book is a tax guide for tax-exempt organizations, we have attempted to discuss the issues in non-technical language.
CONTENTS: 1. Introduction to Tax-Exempt Organizations 2. Distinctions Between Private Foundations and Public Charities 3. Organizational and Operational Considerations 4. Private Inurement, Private Benefit, Intermediate Sanctions and Certain Excise Taxes 5. Engaging in a Trade or Business and Income from an Unrelated Trade or Business 6. Political and Legislative Activities of Tax-Exempt Organizations 7. Private Foundation Excise Taxes 8. Exemption Application Procedures 9. Annual Returns and Disclosure Requirements 10. Charitable Contribution Deduction Requirements and Information for Donors Appendix A: Sample Form 1023 and Accompanying Documents Appendix B: Sample Form 1024 and Accompanying Documents Appendix C: Sample Forms 990, 990-PF, and 990-T Appendix D: Publication 557: Tax Exempt Status for Your Organization Appendix E: Publication 3833: Disaster Relief; Providing Assistance Through Charitable Organizations
Appendix F: Sample CRATs
Appendix G: Sample CRUTs
Appendix H: Sample CLUTs and CLATs
Appendix I: Good Governance Provisions
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Steven D. Simpson is a sole practitioner with the law firm of Law Offices of Steven D. Simpson, P.A., in Raleigh, North Carolina. Mr. Simpson is a 1978 graduate of the Wake Forest University School of Law and was awarded a Master of Laws Degree in Taxation from Georgetown University Law Center in 1981. Mr. Simpson has represented many organizations and individuals on a wide variety of tax, corporate, business and estate planning matters and charitable gift planning issues and has particular expertise in the representation of 501(c)(6) trade associations and 501(c)(3) charitable organizations and private foundations. Mr. Simpson has over twenty (20) years of experience in representing all types of tax-exempt organizations. Mr. Simpson is admitted to the bars of North Carolina, Florida and the District of Columbia and is admitted to practice before the United States Supreme Court as well as numerous federal courts of appeal and district courts. Health care organizations have been a particular focus of Mr. Simpson's practice. He has counseled many hospitals on a wide range of matters, including physician recruitment, incentive compensation, reimbursement, self-referral issues, medical staff relationships, corporate reorganization and purchases and sales of hospital assets.
Mr. Simpson has been active in the American Bar Association's Exempt Organizations Committee, as well as in the North Carolina Bar Association's Health Law Section as a past member of the Executive Council. He is a member of the American Society of Association Executives and the Association Executives of North Carolina, among several other professional organizations, and is listed in The Best Lawyers in America under tax law. He has received the A-V rating from Martindale-Hubbell and is listed in the Bar Register of Preeminent Lawyers.
Mr. Simpson is the author of Tax Compliance for Tax-Exempt Organizations, published by CCH. He is also the author of Tax-Exempt Organizations: Organizational and Operational Requirements, Tax Management Portfolio No. 869, Tax-Exempt Organizations: Reporting, Disclosure and Other Procedural Aspects, Tax Management Portfolio No. 870-2d, and Private Foundations: Taxable Expenditures, Tax Management Portfolio No. 882, all published by Tax Management, Inc.
