An extraordinary amount of ink has been spilled regarding whether opportunity zones, the hot new incentive for investment in low income communities under the Tax Cut and Jobs Act, will in fact generate community benefits. (A recent New York Times cover story is particularly stinging.)
With hurricane season upon us, employers may be considering how they can help employees if disaster strikes. For employers desiring to aid employees affected by a disaster, there are a number of avenues available to assist during these times. However, employers should be aware of the tax implications of such assistance.
The IRS has released final regulations regarding the requirement that 501(c)(4) social welfare organizations file notice of their formation with the IRS.
Effective July 1, the New York State legislature has modified a key provision of the Not-for-Profit Corporation Law (NPCL) regarding the ability of New York non-profits to establish a sole member structure. This change may require immediate adjustment to legal structures by affected non-profits.