Taxation

Substantial Tax Benefits in Investing in Qualified Opportunity Funds

January 7, 2019

The Tax Cuts and Jobs Act of 2017 included a new Federal income tax incentive for investing in a qualified opportunity fund (a “QO Fund”) codified at Internal Revenue Code section 1400Z. This new incentive allows a taxpayer to defer capital gain that is invested by the taxpayer in a QO Fund within the …

IRS Introduces New Form 1023-EZ

August 13, 2014

By Theodore Claypoole

By: Theodore F. Claypoole The Internal Revenue Service has released a shorter application form for non-profit organizations applying for tax-exempt status under Section 501(c)(3). Form 1023-EZ (Streamlined Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code) simplifies the process of obtaining Section 501(c)(3) tax-exempt status. Form 1023-EZ is three …

IRS’ One-Time Special Filing Relief Program for Small Charities

August 25, 2010

By Theodore Claypoole

By: Theodore F. Claypoole Tax-exempt organizations that do not satisfy annual filing requirements for three (3) consecutive years automatically lose their tax-exempt status. The Internal Revenue Service (the “IRS”) has published a list at http://www.irs.gov/pub/irs-tege/pa.pdf, which identifies those Pennsylvania organizations for which the IRS does not …

Employment Tax National Research Project

March 9, 2010

By Theodore Claypoole

By: Theodore F. Claypoole During February 2010, the Internal Revenue Service (“IRS”) began its first Employment Tax National Research Project in 25 years. As part of the project, the IRS will randomly select a total of 6,000 taxpayers (2,000 taxpayers in 2010, 2,000 taxpayers in 2011, and 2,000 taxpayers in 2012) for comprehensive audits …

We Listen.

Substantial Tax Benefits in Investing in Qualified Opportunity Funds

IRS Introduces New Form 1023-EZ

IRS’ One-Time Special Filing Relief Program for Small Charities

Employment Tax National Research Project

Sophisticated, Responsive and Focused.