On March 13, 2020, an emergency declaration was issued authorizing the Secretary of the Treasury to provide relief from certain tax deadlines for taxpayers impacted by the ongoing COVID-19 epidemic. In response, the Internal Revenue Service (IRS) postponed the deadlines for certain time-sensitive actions, including the deadline for exempt organizations to file an annual information

In our previous blog post, we discussed relief available for nonprofits under the Coronavirus Aid, Relief, and Economic Security (CARES) Act (the “Act”).  As described, the Act authorizes up to $349 billion for general business loans available to certain exempt organizations under the Paycheck Protection Program (“PPP”), and provides for Economic Injury Disaster Loan

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

Welcome to The Tax-Exempt Organizations Bulletin!  This Bulletin delivers news and commentary on the unique legal issues affecting the nonprofit sector.

Our Tax-Exempt Organizations Practice Group is comprised of attorneys who work exclusively with nonprofits, as well as attorneys from the firm’s other practice groups, such as trusts & estates, real estate, corporate, IP, litigation,