Gift or no gift, tax-exempt organizations are not supposed to give large sums to select private individuals.
Tax-exempt organizations which make money this way are supposed to turn the profit over to the government.
That could well be a violation of IRS rules that prohibit tax-exempt organizations from transferring assets to private individuals.
The credit is specifically targeted to help small businesses and tax-exempt organizations that primarily employ low and moderate-income workers.
The IRS has announced that tax-exempt organizations with January and February filing due dates will have until March 30, 2012.
The IRS said the decision to flag certain groups was made by employees at its Cincinnati office, which oversees most tax-exempt organizations.
The IRS told the court that it could not find 114 key files relating to possible political manipulation of audits of tax-exempt organizations.
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Lerner, in charge of overseeing tax-exempt organizations at the IRS, learns at a meeting that groups are being targeted, according to the inspector general.
Lerner, who heads the IRS division that oversees tax-exempt organizations, learned at a meeting that groups were being targeted, according to the watchdog's report.
Tax-exempt organizations and nonprofits such as the WinShape Foundation must file 990 documents each year and release a list of organizations that received support.
Instead, he has called for such tax-exempt organizations, such as Swift Boat Veterans for Truth and the liberal group MoveOn and others, to stop airing political ads.
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In recent years, SILO deals have provided huge tax breaks to corporations while putting quick cash in the hands of various tax-exempt organizations, including local governments and local transit organizations.
As attorneys representing tax-exempt organizations, we are writing to express our grave concern about recent unlawful disclosures of pending applications and unredacted tax returns of certain tax-exempt organizations.
It reviews 60, 000 employee-compensation plans and checks 90, 000 tax-exempt organizations.
Lois Lerner, director of tax-exempt organizations for the IRS, acknowledged Friday that the IRS had targeted some groups for further review because they had those words in their names.
Lerner, who heads the IRS division that oversees tax-exempt organizations, said last week that the practice was initiated by low-level workers in Cincinnati and was not motivated by political bias.
Using the latest available filings, FORBES took a close look at 145 tax-exempt organizations created by, named after, presided over or heavily supported by celebrities, mainly in sports, entertainment and the media.
And because tax-exempt organizations are not bound by the federal do-not call list, the firms were able to randomly call consumers, pitching their services under the guise of a non-profit counseling service.
During a preliminary inquiry, the subcommittee consulted with an expert in the law of tax-exempt organizations, and members of the subcommittee did their own research and read voluminous materials involved in this area.
In its application, ABA Retirement said it "promotes high standards of practice in the legal profession, " likening its activities to tax-exempt organizations that set standards for products or make recommendations to federal agencies.
If Democrats are really scandalized that tax-exempt organizations are exploiting a "loophole" to play in politics, they could begin reform by calling for their union allies to stick to their own primary tax-exempt purpose.
The Internal Revenue Service today began mailing postcards to more than 4 million small businesses and tax-exempt organizations to make them aware of the benefits of the recently enacted Small Business Health Care Tax Credit.
Specifically, the IRS was looking into whether donors to certain tax-exempt organizations organized under section 501(c)(4) of the Tax Code would be liable for gift tax on donations that were, in many cases, well into the six figures.
FORBES: IRS Drops Investigation Into Contributions (Tax World Drops Jaw)
What this means is that, as part of this relief, employees may donate their vacation, sick or personal leave in exchange for employer cash payments made to qualified tax-exempt organizations providing relief for the victims of Hurricane Sandy .
FORBES: As Nor'Easter Approaches, IRS Offers Tax Break For Sandy Relief Efforts
Settling complaints lodged by his political enemies, Gingrich in December 1996 admitted that he broke House rules and brought discredit on the House by failing to get proper legal advice in setting up tax-exempt organizations, which he then improperly used for political purposes.
For years, most small tax-exempt organizations were exempt from filing requirements with IRS. This all changed a few years back when The Pension Protection Act of 2006 made it mandatory for tax-exempt organizations to file an annual information return or notice with the IRS regardless of how much (or little) income the organization receives.
Facing a storm of criticism from both Republicans and Democrats, Mr. Miller said in his op-ed that the IRS wasn't trying to target any particular group but instead was trying to deal with an influx of applications and a challenging law that limits or even bans political activity by some tax-exempt organizations, but is riddled with complexity.
On Friday, Lois Lerner, head of the IRS tax-exempt-organizations division, apologized for "inappropriate" actions by workers in subjecting applications of some conservative groups that had "tea party" or "patriot" in their names, among other criteria.
Congress doesn't have to provide tax-exempt status to social-welfare organizations, but having done so it cannot discriminate by the kind of advocacy in which such groups engage.
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