The Protecting Americans from Tax Hikes (“PATH”) Act of 2015, enacted in December 2015, requires organizations to notify the IRS if they desire to operate under Section 501(c)(4) of the Internal Revenue Code (“Code”). (Only organizations described in Section 501(c)(3) of the Code are required to apply for and receive recognition of their tax-exempt status; … Continue Reading
By Michael Sirkin and Steven Einhorn on Posted in IRS,IRS Filings
On June 21, 2016, the Internal Revenue Service (IRS) issued anticipated proposed Treasury Regulations prescribing rules under Section 457 of the Internal Revenue Code for the income taxation of deferred compensation arrangements for employees of tax-exempt organizations and state and local governments. The IRS also released new proposed Treasury Regulations under Code Section 409A.… Continue Reading
Our colleagues over at our Tax Talks blog covered Proskauer’s recent work in connection with the widely-publicized forgiveness of nearly $15 million in medical debt by John Oliver on his June 5th show.… Continue Reading
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