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In what may be a bellwether for future challenges to existing U.S. Treasury Regulations, on August 6, 2019 the United States District Court for the District of Minnesota in Mayo Clinic v. United States invalidated Treasury Regulation § 1.170A-9(c) on the grounds that the Treasury Department exceeded the bounds of its statutory authority when it…

On August 12, 2019, Governor Andrew Cuomo signed into law S.6577/A.8421 (the “Act”), providing new workplace harassment protections for New York workers. While certain provisions of the previous law applied only to employers with four or more employees, the Act is applicable to all employers in the state—including nonprofits.

Effective October 11, 2019, the Act…

On September 10, 2019, the Internal Revenue Service issued proposed updates to the information reporting regulations applicable to tax-exempt organizations. The proposed regulations  generally incorporate existing statutory amendments and IRS guidance provided since the current regulations were adopted.

Among the proposals is a regulation that would put into effect the changes previously announced in Revenue…

On July 30, 2019, the court in Bullock v. IRS, No. CV-18-103-GF-BMM (D. Mont. July 30, 2019) invalidated IRS Revenue Procedure 2018-38 governing tax-exempt organizations’ disclosure of donor information on the grounds that it was promulgated without the required notice-and-comment period.

Background

As described in our previous blog post, prior to Revenue Procedure…

The Internal Revenue Service (“IRS”) defines virtual currency as “a digital representation of value that functions as a medium of exchange, a unit of account, and/or a store of value.” Virtual currency is not backed by a government-issued legal tender. Convertible virtual currency such as Bitcoin—by far the most popular—may be used to pay for…

On May 6, 2019, the New York and New Jersey Attorneys General filed a lawsuit against the U.S. Department of the Treasury (the “Treasury Department”) and its bureau the Internal Revenue Service (the “IRS”) for failing to respond records requests made pursuant to the Freedom of Information Act (“FOIA”). The requests sought records and information…

On July 19, 2018, the New York Attorney General announced a settlement with Tennessee-based charity Operation Troop Aid Inc. (“OTA”) for failure to properly oversee donations received as part of a commercial co-venture.

OTA operated for the stated purpose of sending care packages to military service members, primarily during deployment. From at least 2012 to…

Internal Revenue Service Notice 2018-67 (the “Notice”) sets forth interim guidance relating to Internal Revenue Code § 512(a)(6) Special rule for organization with more than one unrelated trade or business.

Enacted on December 22, 2017 as part of Public Law 115-97 (the “Tax Cuts and Jobs Act”), Code § 512(a)(6) provides that

in the…