Brianna Reed
Brianna Reed is an associate in the Tax Department and a member of the Private Funds Group.
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On April 23, 2020, the Treasury Department and the Internal Revenue Service (the “IRS”) issued proposed regulations (the “Proposed Regulations”) under Section 512(a)(6) of the Internal Revenue Code (the “Code”). Section 512(a)(6) was enacted as part of the 2017 Tax Cut and Jobs Act (the “TCJA”) and requires exempt organizations (including individual retirement accounts) to … Continue Reading
The U.S. Internal Revenue Service (IRS) quietly added two new questions and answers regarding virtual currency donations to its answers to Frequently Asked Questions on Virtual Currency Transactions (FAQs) on December 26, 2019. The two new answers address the responsibilities of charitable organizations when accepting donations of virtual currency, including cryptocurrency. For a discussion of … Continue Reading
On December 20, 2019, President Trump signed into law changes to the private foundation excise tax on net investment income under Section 4940 of the Internal Revenue Code.[1] For purposes of Section 4940, net investment income is the excess of gross income from interest, dividends, rents and royalties (“gross investment income”), plus capital gain net … Continue Reading
On August 21, 2018, the Internal Revenue Service (“IRS”) released Notice 2018-67 (the “Notice”), addressing issues relevant to tax-exempt organizations arising under new Section 512(a)(6) of the Internal Revenue Code (the “Code”), promulgated pursuant to the 2017 U.S. tax legislation that is commonly referred to as the “Tax Cuts and Jobs Act.” Section 512(a)(6) requires … Continue Reading
Proposed Regulations on UBTI Provide Guidance to Tax-Exempt Organizations Making Fund Investments
By Jeremy Naylor, Amanda H. Nussbaum and Brianna Reed on Posted in Not-for-Profit, Tax Reform, Tax-Exempt Organizations
IRS Issues New Guidance for Virtual Currency Donations
By Jeremy Naylor and Brianna Reed on Posted in Articles, Charitable Giving, IRS, Not-for-Profit, Tax-Exempt Organizations
Simplification of the Net Investment Income Tax for Private Foundations
Tax-Exempts May Limit Fund Investments Pursuant to New IRS Guidance on UBTI
By Scott S. Jones, Arnold P. May, Jeremy Naylor, Amanda H. Nussbaum, Brian Huber and Brianna Reed on Posted in IRS, Private Foundations
