Trustee May Close Account To Prevent Charitable Gift
But Court refuses to dismiss all claims by charity seeking to collect on donor’s promises
What happens under the following statement of facts?
IRS collects list of technical guides
The Internal Revenue Service has collected in one place on its website a list of new and republished audit technique guides and technical guides dealing with tax-exempt organizations. Many of the guides are new or republished in April, 2024.
Foundation Loses Insurance Claim For Grants Based On Fake Exemption Letter
Court says computer fraud claim is not covered because loss was not directly caused by fraudulent email
The Denver Foundation has been unable to recover from insurance on a claim of computer fraud when a non-exempt applicant submitted a fraudulently modified IRS letter to show that it was charitably tax-exempt under section 501(c)(3) of the Tax Code. A Federal District Court in Colorado has ruled that the loss did not “directly” result from the fraudulent email.
Donors of noncash gifts drop again, but value of gifts increases in 2021
The number of donors reporting noncash contributions on their individual tax returns dropped in tax year 2021, but the total value of their gifts increased, according to statistics released by the Internal Revenue Service in April. The numbers reflect a continuing trend from returns for 2019, the year before the pandemic, through 2020, the partial year of the pandemic, and 2021, a full year on the pandemic. Fewer donors are giving, but they are giving more money.
White Entrepreneur Lacks Standing To Challenge Amazon Diversity Grants
Court says plaintiff failed to show that purported injury is “concrete, particularized, and actual or imminent”
A federal District Court in Texas has dismissed a complaint brought by a 44-year-old white woman who complained that she was discriminated against by Amazon’s diversity grant program for Black, Hispanic, and Native American owners of delivery service partners. She claimed she was discriminated against because the grants are not available to white or Asian owners. The Court said she had not alleged an injury sufficient to establish that she had standing to bring the case.
Case initiated to challenge Johnson Amendment
A new case has been filed that may be the vehicle to challenge the Tax Code limitations on lobbying and electioneering for charities. According to reports in the EO Tax Journal, a petition for declaratory judgment has been filed in Students and Academics for Free Expression, Speech and Political Action in Campus Education, Inc. v.