Tax Planning and Compliance for Tax-Exempt Organizations Rules, Checklists, Procedures

ISBN-10: 0470903449

ISBN-13: 9780470903445

Edition: 5th 2012

List price: $250.00 Buy it from $25.72 Rent it from $39.98
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An essential, timesaving guide for accountants, lawyers, nonprofit executives and directors, consultants, and volunteers, the Tax Planning and Compliance for Tax-Exempt Organizations: Rules, Checklists, and Procedures, Fifth Edition is an indispensable guide to navigating the complex maze of nonprofit tax rules and regulations. Along with clear, concise instructions for filing Forms 990 and other important IRS forms and documents, this practical guide covers the significant issues facing nonprofit organizations, including unrelated business income, private inurement, affiliations, and employment taxes. It also provides practical guidance on obtaining the tax exemption; reporting to boards, auditors, and the IRS; testing ongoing tax compliance; and managing lobbying expenditure.
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Book details

List price: $250.00
Edition: 5th
Copyright year: 2012
Publisher: John Wiley & Sons, Limited
Publication date: 6/12/2012
Binding: Hardcover
Pages: 896
Size: 7.50" wide x 11.50" long x 1.50" tall
Weight: 3.630
Language: English

<p class="biography" <b Amanda S. Adams</b is a graduate of the University of California at Berkeley and holds a Master's degree in Anthropology from the University of British Columbia. She has worked as a fashion model, an archeologist, and a freelance writer and illustrator. She lives in Minneapolis with her brand new husband and their four birds. She is the author of one previous work of nonfiction, <i A Mermaid's Tale: A Personal Search for Love and Lore</i . She lives in San Francisco.</p

List of Exhibits
About the Authors
Qualifications Of Tax-Exempt Organizations
Distinguishing Characteristics of Tax-Exempt Organizations
Differences between Exempt and Nonexempt Organizations
Ownership and Control
Role of the Internal Revenue Service
Suitability as an Exempt Organization
Start-Up Tax and Financial Considerations
Choosing the Best Form of Organization
Qualifying Under IRC  501(c)(3)
Organizational Test
Operational Test
Religious Organizations
Types of Religious Organizations
Religious Orders
Religious and Apostolic Associations
Charitable Organizations
Relief of the Poor
Promotion of Social Welfare
Lessening the Burdens of Government
Advancement of Religion
Advancement of Education and Science
Promotion of Health
Cooperative Hospital Service Organizations
Educational, Scientific, and Literary Purposes and Prevention of Cruelty to Children and Animals
Educational Purposes
Literary Purposes
Scientific Purposes
Testing for Public Safety
Fostering National or International Amateur Sports Competition (But Only If No Part of Its Activities Involves the Provision of Athletic Facilities or Equipment)
Prevention of Cruelty to Children or Animals
Civic Leagues and Local Associations of Employees:  501(c)(4)
Comparison of (c)(3) and (c)(4) Organizations
Qualifying and Nonqualifying Civic Organizations
Local Associations of Employees
Neighborhood and Homeowner���s Associations
Disclosures of Nondeductibility
Labor, Agricultural, and Horticultural Organizations:  501(c)(5)
Labor Unions
Agricultural Groups
Horticultural Groups
Disclosures of Nondeductibility
Business Leagues:  501(c)(6)
Basic Characteristics
Meaning of "Common Business Interest"
Line of Business
Rendering Services for Members
Sources of Revenue
Membership Categories
Member Inurement
Chambers of Commerce and Boards of Trade
Comparison to  501(c)(5)
Recognition of Exempt Status
Formation of a Related Charitable Organization
Disclosures for Lobbying and Nondeductibility
Social Clubs:  501(c)(7)
Organizational Requirements and Characteristics
Member Inurement Prohibited
Membership Requirements
Revenue Tests
Unrelated Business Income Tax
Filing and Disclosure Requirements
Instrumentalities of Government and Title-Holding Corporations
 501(c)(1) Instrumentalities of the United States
Governmental Units
Qualifying for  501(c)(3) Status
 501(c)(2) Title-Holding Corporations
 501(c)(25) Title-Holding Corporations
Public Charities
Distinctions between Public and Private Charities
"Inherently Public Activity" and Broad Public Support:  509(a)(1)
Community Foundations
Service-Providing Organizations:  509(a)(2)
Difference between  509(a)(1) and  509(a)(2)
Supporting Organizations:  509(a)(3)
Testing for Public Safety:  509(a)(4)
Standards For Private Foundations
Private Foundations&#8212;General Concepts
Why Private Foundations Are Special
Special Rules Pertaining to Private Foundations
Application of Taxes to Certain Nonexempt Trusts
Termination of Private Foundation Status
Excise Tax Based on Investment Income: IRC  4940
Formula for Taxable Income
Capital Gains
Ponzi Scheme Losses
Deductions from Gross Investment Income
Tax-Planning Ideas
Foreign Foundations
Timely Payment of Excise Tax
Exempt Operating Foundations
Self-Dealing: IRC  4941
Definition of Self-Dealing
Sale, Exchange, or Lease of Property
Transactions That Benefit Disqualified Persons
Payments to Government Officials
Sharing Space, People, and Expenses
Indirect Deals
Property Held by Fiduciaries
Issues Once Self-Dealing Occurs
Minimum Distribution Requirements: IRC  4942
Assets Used to Calculate Minimum Investment Return
Measuring Fair Market Value
Distributable Amount
Qualifying Distributions
Private Operating Foundations
Satisfying the Distribution Test
Excess Business Holdings and Jeopardizing Investments: IRC   4943 and 4944
Excess Business Holdings
Jeopardizing Investments
Program-Related Investments
Penalty Taxes
Taxable Expenditures: IRC  4945
Voter Registration Drives
Grants to Individuals
Grants to Public Charities
Grants to Foreign Organizations
Expenditure Responsibility Grants
Noncharitable Expenditures
Excise Taxes Payable
Obtaining And Maintaining Tax-Exempt Status
IRS Filings, Procedures, and Policies
IRS Determination Process
Annual Filing of Forms 990
Reporting Organizational Changes to the IRS
Weathering an IRS Examination
When Organization Loses Its Tax-Exempt Status
Maintaining Exempt Status
Private Inurement and Intermediate Sanctions
Defining Inurement
Salaries and Other Compensation
Finding Salary Statistics
Housing and Meals
Purchase, Lease, or Sale of Property or Services
Loans and Guarantees
For-Profit to Nonprofit and Vice Versa
Services Rendered for Individuals
Joint Ventures
Intermediate Sanctions
Unrelated Business Income
IRS Scrutiny of Unrelated Business Income
History of the Unrelated Business Income Tax
Consequences of Receiving UBI
Definition of Trade or Business
What Is Unrelated Business Income?
"Regularly Carried On"
"Substantially Related"
Unrelated Activities
The Exceptions
Income Modifications
Calculating and Minimizing Taxable Income
Debt-Financed Property
Travel Tours
Relationships with Other Organizations and Businesses
Creation of (c)(3) by (c)(4), (5), or (6)
Alliances with Investors
Creation of a For-Profit Corporate Subsidiary
Active Business Relationships
Electioneering and Lobbying
Election Campaign Involvement
Voter Education versus Candidate Promotion
Tax on Political Expenditures
Lobbying Activity of  501(c)(3) Organizations
Permissible Amounts of Lobbying
Lobbying Limits for  501(c)(4), (5), (6), and Other Exempt Organizations
Advocacy and Nonpartisan Analysis
Deductibility and Disclosures
Overview of Deductibility
The Substantiation and Quid Pro Quo Rules
Valuing Donor Benefits
Unrelated Business Income Aspects of Fund-Raising
State and Local Regulations
Employment Taxes
Distinctions Between Employees and Independent Contractors
Reporting Requirements
Mergers, Bankruptcies, and Terminations
Mergers and Other Combinations
Table of Cases
Table of IRS Revenue Rulings
Table of IRS Revenue Procedures
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