tag:blogger.com,1999:blog-64197328195222251492024-03-13T00:57:50.668-05:00Tax Exempt Law Student BlogAn up to date description of the current activities in the law of tax exempt entities, as seen from the eyes of an LLM in Taxation student, with some real life student life experiences and anecdotes tossed in as well!Jedediah R. Bodgerhttp://www.blogger.com/profile/12007708798693228014noreply@blogger.comBlogger61125tag:blogger.com,1999:blog-6419732819522225149.post-40287588223554771142008-03-01T11:36:00.001-06:002008-12-08T20:33:18.340-06:00Another Blow to the Perpetual Student!The Tax Court held that a taxpayer could not deduct the $33,000 cost of obtaining a Harvard M.B.A. as an educational expense under Reg. § 1.162-5. Foster v. Commissioner, T.C. Summ. Op. 2008-22 (2/28/08). The court concluded that her Harvard M.B.A. both (1) met the minimum education requirements of her position as Vice- President of Marketing at Reshreshment Brands (at an $117,500 annual salaryJedediah R. Bodgerhttp://www.blogger.com/profile/12007708798693228014noreply@blogger.com0tag:blogger.com,1999:blog-6419732819522225149.post-41621366399756689892008-03-01T11:31:00.002-06:002008-12-08T20:33:18.489-06:00More Unrelated Business Income for Charities in Economic DownturnWhen the economy starts to hit the skids, as is currently happening, people tightent their belt, and superfluous spending such as charitable donations is heavily reduced. As a result, charities engage in more business activity to hold them over until donations flow again. That speculation seems to have been concerned by a recent article in the 2008 Winter Statistics of Income Bulletin. The Jedediah R. Bodgerhttp://www.blogger.com/profile/12007708798693228014noreply@blogger.com0tag:blogger.com,1999:blog-6419732819522225149.post-20954809391004060402008-03-01T11:27:00.002-06:002008-12-08T20:33:18.683-06:00Guidance on the 990 PostcardOn February 25, 2008, the IRS issued guidance on the Form 990-N, the "e-Postcard," filing requirement of small tax-exempt organizations (i.e., those with gross receipts annually of $25,000 or less). The Pension Protection Act of 2006 requires such organizations to file the e-Postcard starting in 2008 for tax years beginning with 2007. Small tax-exempt organizations are now required to make Jedediah R. Bodgerhttp://www.blogger.com/profile/12007708798693228014noreply@blogger.com0tag:blogger.com,1999:blog-6419732819522225149.post-47644639974471038532008-03-01T11:16:00.003-06:002008-03-01T11:23:13.774-06:00And we're Back!After an excruciatingly long wait, the tax exempt entity law student blog is back and is moving forward. The hope for this blog in moving forward is that it will grow and encourage an open dialogue with the reader (hopefully readers … but lets not get ahead of ourselves here!) about the practice of law in the field of tax exempt entities, and how to move that practice into an area where there Jedediah R. Bodgerhttp://www.blogger.com/profile/12007708798693228014noreply@blogger.com0tag:blogger.com,1999:blog-6419732819522225149.post-30940894411617312982007-10-10T10:43:00.000-05:002008-12-08T20:33:18.875-06:00Thank you to TiffanyToday, I would like to take a minute to express my warmest wishes and sincerest thank you to my wife, Tiffany. Today marks our first anniversary. I think that if you expand that out, it rally means first of many. Tiffany is the love of my life, the drive that keeps me going forward, and the fire in my belly that keeps me warm at night. I could never thank her for all of the things that she Jedediah R. Bodgerhttp://www.blogger.com/profile/12007708798693228014noreply@blogger.com0tag:blogger.com,1999:blog-6419732819522225149.post-10412248931991206022007-10-10T10:41:00.000-05:002008-12-08T20:33:19.025-06:00IRS releases several publications relating to Exempt OrganizationsGenerally, Publication 4630 provides for general guidance for non-profits, and provides you with a “how to” and “where to” for the information that you may be in search of.IRS Publication 1771 , Charitable Contributions-Substantiation and Disclosure Requirements, explains the federal tax law for organizations such as charities and churches that receive tax-deductible charitable contributions and Jedediah R. Bodgerhttp://www.blogger.com/profile/12007708798693228014noreply@blogger.com0tag:blogger.com,1999:blog-6419732819522225149.post-63893676360579268062007-10-10T10:37:00.000-05:002008-12-08T20:33:19.187-06:00In Local Tax News …The Chicago Tribune has an interesting article today about taxes levied by the city of Chicago against its residents and non-residents alike. The focus of the story are what the tribune considers those many “nagging little” taxes that seemingly go unnoticed, but are there. The article focuses on what it considers the most egregious, the proposed tax on bottled water. Why not tax bottled water?Jedediah R. Bodgerhttp://www.blogger.com/profile/12007708798693228014noreply@blogger.com0tag:blogger.com,1999:blog-6419732819522225149.post-52766161938370710432007-10-10T10:35:00.001-05:002008-12-08T20:33:19.315-06:00New Non-Profit Law PodcastOur friend over at the Non-Profit Law Podcast, Tim Mooney, has released another in his fine series of non-profit law podcasts. I suggest that you get over there and check it out, it can be found hereJedediah R. Bodgerhttp://www.blogger.com/profile/12007708798693228014noreply@blogger.com0tag:blogger.com,1999:blog-6419732819522225149.post-458702015476576462007-10-02T14:39:00.001-05:002008-12-08T20:33:19.480-06:00If a President Falls at the Nature Conservancy will Anyone Hear It?Long time staffer and president of the Nature Conservancy, Steven J. McCormick, who has served as president of the Nature Conservancy since 2001, abruptly stepped down from his post today after a controversial tenure in which the organization came under fire for land transactions and its relationships with for-profit businesses.Mr. McCormick said in a written statement that he believes it is timeJedediah R. Bodgerhttp://www.blogger.com/profile/12007708798693228014noreply@blogger.com0tag:blogger.com,1999:blog-6419732819522225149.post-42895602154957290942007-10-02T14:35:00.000-05:002008-12-08T20:33:19.635-06:00YouTube and Non-Profits, quite the grouping!YouTube has launched the “YouTube Nonprofit Program YouTube Nonprofit Program. After filling out a basic application, your nonprofit organization may be a featured on the forthcoming YouTube nonprofit channel. This seems like a great way to get a message out across one of the most popular mediums currently. YouTube Nonprofit ProgramJedediah R. Bodgerhttp://www.blogger.com/profile/12007708798693228014noreply@blogger.com0tag:blogger.com,1999:blog-6419732819522225149.post-34680211452424739722007-10-02T14:33:00.000-05:002008-12-08T20:33:19.823-06:00News Bites Today:Fair Trade Coffee … all the buzz, ½ the guiltThe New York Times has an interesting article on fair trade coffee today, and about how the industry is outpacing those regular coffee suppliers of the world. Take that Juan Valdez!Read the full article hereTribune Gets Tax WindfallA court yesterday granted the Chicago Tribune a substantial refund after the restructuring of their former subsidiary, Jedediah R. Bodgerhttp://www.blogger.com/profile/12007708798693228014noreply@blogger.com0tag:blogger.com,1999:blog-6419732819522225149.post-77989978052373980382007-10-01T11:44:00.000-05:002008-12-08T20:33:20.037-06:00Congress Attempts to Convene Philanthropy GroupA Congressional caucus that was formed to discuss issues that affect the charitable world now has 25 members and will start meeting this fall. The issues that the new caucus will discuss are a tax bill that Congress is expected to adopt this fall and the proposed extension of legislation allowing some people to donate money from their individual retirement accounts to charity tax-free.The caucusJedediah R. Bodgerhttp://www.blogger.com/profile/12007708798693228014noreply@blogger.com0tag:blogger.com,1999:blog-6419732819522225149.post-17564339377408547432007-10-01T11:43:00.001-05:002008-12-08T20:33:20.257-06:00All rise … today is First MondaySeeing as today is the first Monday of October, I thought that I would list out the Supreme Court cases with a tax relevance to be heard during this term.Kentucky Department of Revenue v. Davis, No. 06-666Date of Oral Argument: Nov. 7, 2007Issue: Whether a state violates the dormant Commerce Clause by providing an exemption from its income tax for interest income derived from bonds issued by Jedediah R. Bodgerhttp://www.blogger.com/profile/12007708798693228014noreply@blogger.com0tag:blogger.com,1999:blog-6419732819522225149.post-30220734803362370592007-10-01T11:42:00.000-05:002008-12-08T20:33:20.399-06:00IRS NotesThe IRS will eliminate from the summary page of a redesigned Form 990 information return for tax-exempt organizations questions on compensation percentages, fundraising percentages, and comparisons of an organization's net assets to total expenses, an IRS official said on September 28. The IRS, which last summer released a draft form of a redesigned Form 990 information return for tax-exempt Jedediah R. Bodgerhttp://www.blogger.com/profile/12007708798693228014noreply@blogger.com0tag:blogger.com,1999:blog-6419732819522225149.post-27597261560628212792007-10-01T11:39:00.000-05:002008-12-08T20:33:20.534-06:00I coulda been a contender … I coulda been somebody.“You don't understand. I coulda had class. I coulda been a contender. I coulda been somebody, instead of a bum, which is what I am, let's face it.” Much like when it was first uttered in On the Waterfront, the audience response to Newt Gingrich’s similar statement is, “yeah … right.” But, that’s what’s happening with Newt Right now, he’s pulling out of his bid for the Republican nod for the Jedediah R. Bodgerhttp://www.blogger.com/profile/12007708798693228014noreply@blogger.com0tag:blogger.com,1999:blog-6419732819522225149.post-30659031566872534462007-10-01T11:38:00.000-05:002007-10-01T11:39:46.038-05:00News NotesIntuit/Quickbooks has put out a new “non-profit” version – QuickBooks: Premier Nonprofit Edition 2007. This version combines the convenience of QuickBooks with basic nonprofit functionality to provide smaller nonprofit organizations with an easy way to track expenses, record donations and monitor pledges, as well as provide users with a solid financial product that can be up and running in Jedediah R. Bodgerhttp://www.blogger.com/profile/12007708798693228014noreply@blogger.com0tag:blogger.com,1999:blog-6419732819522225149.post-43643180997686332422007-09-27T15:18:00.001-05:002008-12-08T20:33:20.665-06:00Yale Endowment Just Keeps Growing!The Yale Endowment, which is the largest academic endowment in the U.S. just keeps getting bigger and bigger. The Endowment grew an impressive 28% this past year, and has topped the $22B (yeah, that’s “B” as in Billion) mark. The New York Times profiled the endowment and its growth in todays business section. Read the article hereJedediah R. Bodgerhttp://www.blogger.com/profile/12007708798693228014noreply@blogger.com0tag:blogger.com,1999:blog-6419732819522225149.post-79443456968364100012007-09-26T20:49:00.000-05:002008-12-08T20:33:21.470-06:00From the world of Tax Exempt entities and the government partnering togetherAn Ohio nonprofit is taking its first-ever federal funding to jump-start a recycling awareness program in four area schools. Communities in Schools, the Columbus arm of the national dropout-prevention organization, has received $18,943 from the U.S. Environmental Protection Agency for its Recycling Awareness program that will take place in four elementary and middle schools in Whitehall City Jedediah R. Bodgerhttp://www.blogger.com/profile/12007708798693228014noreply@blogger.com0tag:blogger.com,1999:blog-6419732819522225149.post-35803592381943299932007-09-26T11:19:00.000-05:002008-12-08T20:33:21.677-06:00Carl’s Junior Partners with … PETA?Yes, in the interest of social good, and social awareness, the fast food chain Carl’s Junior (and its affiliated Hardees) have agreed to immediately begin purchasing 15 percent of its pork from suppliers that do not use metal "gestation crates" to confine sows, and increase that to 25 percent by 2009; purchase 2 percent of its eggs from suppliers whose hens are not kept in wire cages by July 2008Jedediah R. Bodgerhttp://www.blogger.com/profile/12007708798693228014noreply@blogger.com0tag:blogger.com,1999:blog-6419732819522225149.post-67605698772251494122007-09-26T11:18:00.000-05:002008-12-08T20:33:21.868-06:00Genius Awards … missed me again!So, the John D. and Catherine T. MacArthur Foundation has named the 24 recipients of its 2007 MacArthur Fellowships, and sadly, once again, I was not named. The MacArthur foundation gives the fellowships, commonly referred to as the “genius awards” which recognize individuals from wide-ranging disciplines who show creativity, originality, and a commitment to continued innovative work. 16 of theJedediah R. Bodgerhttp://www.blogger.com/profile/12007708798693228014noreply@blogger.com0tag:blogger.com,1999:blog-6419732819522225149.post-68211602218909294462007-09-26T11:17:00.000-05:002008-12-08T20:33:22.071-06:00House Ways and Means Oversight Subcommittee HearingsIn a related story to the previous post of “How Much Should Charities Give to the Needy,” the House Ways and Means Oversight Subcommittee held hearings yesterday on whether charitable organizations are adequately meeting the needs and requirements of diverse communities. Princeton Researcher Julian Wolpert indicated that his research has shown that charity and volunteer work mostly stays within Jedediah R. Bodgerhttp://www.blogger.com/profile/12007708798693228014noreply@blogger.com0tag:blogger.com,1999:blog-6419732819522225149.post-40041281567508633082007-09-26T11:13:00.000-05:002008-12-08T20:33:22.192-06:00How Much Charities Should give to the NeedyAn article by Peter Panepento in the Chronicle of Philanthropy notes how large nonprofit groups are not giving an adequate amount of funding to areas with large concentrations of poor and minority residents. This was addressed at a hearing at the House Ways and Means Subcommittee on Oversight, which has some jurisdiction over tax policy. Congress has apparently taken up the mantel of trying to Jedediah R. Bodgerhttp://www.blogger.com/profile/12007708798693228014noreply@blogger.com0tag:blogger.com,1999:blog-6419732819522225149.post-49648671284885381572007-09-26T11:12:00.000-05:002008-12-08T20:33:22.291-06:00Criticism for Clinton’s “Giving”As many of you probably know, President Bill Clinton has released a book entitled “Giving.” The book (unfortunately I’m only half way through it) deals with the impact that the simple act of giving can create, and how much good people in all walks of life can do. The book however, has not been entirely well received. In fact, there are a number of outlets that have actually kind of panned the Jedediah R. Bodgerhttp://www.blogger.com/profile/12007708798693228014noreply@blogger.com0tag:blogger.com,1999:blog-6419732819522225149.post-87945918354613943132007-09-26T11:10:00.000-05:002008-12-08T20:33:23.219-06:00Supreme Court Grants Cert in Two Tax CasesBoulware v. United States (No. 06-1509): What effect must a federal court give a final, non-collusive state court judgment adjudicating ownership of property in determining a taxpayer’s federal income tax liability arising from that property?Whether a taxpayer who seeks to invoke the return of capital rule in a criminal tax case must show a contemporaneous intent to treat the corporate Jedediah R. Bodgerhttp://www.blogger.com/profile/12007708798693228014noreply@blogger.com0tag:blogger.com,1999:blog-6419732819522225149.post-39839518505110033382007-09-23T16:32:00.000-05:002008-12-08T20:33:23.345-06:00Non-Profit Law PodcastSo, for all of you out there who are interested, and I hope many of you are, there is a great podcast being put out by Tim Mooney. nonprofit law podcast is a wealth of information, and provides grea tips, insights, and information regarding the law of nonprofit entities. If you get a chance, check it out hereJedediah R. Bodgerhttp://www.blogger.com/profile/12007708798693228014noreply@blogger.com1