Tax, Legal & Compliance
August 29, 2016 at 12:25 pm
Better Business Bureau Wise Giving Alliance (BBBWGA) released a list of the top 10 charities, based on fiscal year 2014 contributions, that did not verify their transparency by completing the watchdog's evaluation. BBBWGA dubbed the charities on its list "transparency dodgers."...
August 26, 2016 at 10:53 am
Sen. Bernie Sanders wants to assure his supporters that his bid for president—and the ensuing shake up and movement within the Democratic party—was not for naught. On Wednesday, the Vermont senator announced the creation of Our Revolution, a 501(c)(4) political organization, The New York Times reported. But things haven’t exactly gotten off to a smooth start...
August 24, 2016 at 9:28 am
Months after he was supposed to give away more than $100,000 for college scholarships, Milo Yiannopoulos said all of the money is still sitting in his bank account. The Breitbart editor and professional political agitator (recently banned from Twitter for harassment) came under fire this week as allegations surfaced that his charity, which would provide…
August 23, 2016 at 10:54 am
A dual national British-Australian man has been arrested and detained in Dubai, United Arab Emirates, for sharing on Facebook a link to a fundraising campaign benefiting refugees in Afghanistan. Scott Richards, who lives in the United Arab Emirates city with his family but is a citizen of both Australia and the U.K., was charged with…
August 23, 2016 at 10:47 am
Jimmy Feigen, who has been accused by Brazilian authorities of fabricating a robbery claim along with Ryan Lochte and two other U.S. swimming teammates, will pay about $10,800 to an unnamed Brazilian charity and then leave the country, his attorney told the Associated Press early Friday. According to attorney Breno Melaragno, Brazilian law allows people…
August 22, 2016 at 12:19 pm
More than two decades after issuing rules and regulations for nonprofits on how to present and share their financials, the Financial Accounting Standards Board (FASB) hopes to simplify things for these organizations, as well as their donors, by issuing new guidelines. After years of study and outreach, the FASB released new guidelines this week that…
August 19, 2016 at 9:35 am
The IRS has slashed the application fee small charitable organizations are required to pay when applying for tax-exempt status. According to Revenue Procedure 2016-32, the IRS reduced the user fee from $400 to $275 for Form 1023-EZ, Streamlined Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code. The new fee went into…
August 17, 2016 at 7:23 am
Colorado’s attorney general and secretary of state are asking residents to do more to check out charities before they decide to give. "I encourage the many generous people in our state who make charitable contributions to take proper precautions before donating their hard-earned money," Colorado Attorney General Cynthia Coffman said in a news release. "Unfortunately,…
August 16, 2016 at 10:24 am
Lynn Hlatky has spent her career as a scientist studying the development of cancer, hoping in some way to improve understanding of an insidious disease. She took a path common in her field: won funding, established a lab, assembled a team of colleagues and got to work. But now, a decade of Hlatky’s work suddenly…
August 16, 2016 at 10:13 am
In 2005, Vanderbilt conceded defeat in its legal battle to remove the word "Confederate" from one of its residency halls, which was built as Confederate Memorial Hall, but which the university prefers to call just Memorial Hall. The university had announced plans to remove the word in 2002, but the Tennessee chapter of the United…
