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Not For Profit/Exempt Organizations Blog

Tag Archives: Notice 2012-52

IRS Finally Confirms that Contributions to Single Member LLCs Owned by Charities Are Deductible

Posted in Charitable Giving, IRS Filings

On July 31, 2012, the IRS issued Notice 2012-52 (the “Notice”), providing long awaited confirmation that a charitable contribution to a limited liability company that is wholly owned by a charitable organization, and classified as a disregarded entity for U.S. federal income tax purposes (an “SMLLC”), will be treated as a contribution to a branch… Continue Reading