The Tax Law of Charitable Giving, 2016 Cumulative Supplement E-Book

Bruce R. Hopkins

• Herausgeber: John Wiley & Sons
• Kategorie: Fachliteratur
• Sprache: Englisch
• Veröffentlichungsjahr: 2016

Seitenzahl: 189

Beschreibung

The classic tax guide for charitable giving, updated and expanded for 2016 The Tax Law of Charitable Giving is the leading guide to the rules, regulations, and laws governing charitable gifts, written by one of the most trusted legal authorities on tax-exempt organizations. Completely revised, revamped, and updated for 2016, this invaluable guide provides plain-English explanations and supporting documentation to assist in the decision making process. This supplement includes discussion of the new healthcare tax on investment income of trusts and the impact on pooled income funds, updates to federal estate tax law, and case law on substantiation and appraisal requirements, as well as detailed coverage of new Department of Treasury regulations concerning recordkeeping, an update of law summary for donor-advised funds, and an updated summary of recent legislation's impact on the U.S. tax system. Supporting citations and documentation are provided, and references to rulings, regulations, cases, and tax literature are included throughout. The companion website features appendices, tables, IRS examination guidelines for charitable giving, and more, to help you stay fully up-to-date with the most current tax laws related to charitable giving. Tax law changes continuously, and the rules surrounding charitable gifts are under increasing scrutiny. This book provides clear, easy-to-follow guidance on the latest updates to help ensure complete compliance and well-informed decision-making. * Get up to date on the most recent charitable gift regulations * Dig deep into healthcare tax, federal estate tax, donor-advised funds, and more * Gain access to downloadable tables, IRS guidelines, and other helpful documents * Make the right decisions about your organization's fund-development program With comprehensive, authoritative guidance and the most current applicable laws, rules, and regulations, The Tax Law of Charitable Giving is an invaluable resource for any tax-exempt organization.

Leseprobe

CONTENTS

Cover

Series Page

Title Page

Copyright

Preface

About the Author

Book Citations

Part One: Introduction to the Tax Law of Charitable Giving

Chapter One: Charitable Giving Law: Basic Concepts

§ 1.4 Statistical Profile of Charitable Sector

Chapter Two: The United States Tax System: An Overview

*§ 2.5 Deductions

*§ 2.6 Standard Deduction

*§ 2.7 Concept of Taxable Income

*§ 2.15 Taxation of Income

Part Two: Basics of Charitable Giving Law

Chapter Three: Fundamental Concepts

§ 3.1 Meaning of Gift

*§ 3.2 Meaning of Donor

*§ 3.4 Public Charities and Private Foundations

§ 3.6 Factors Affecting Income Tax Deductibility of Charitable Gifts

Part Three: Charitable Giving in General

Chapter Six: Timing of Charitable Deductions

§ 6.15 Gifts by S Corporations

Chapter Seven: Percentage Limitations

§ 7.12A Qualified Conservation Contributions

§ 7.12B Conservation Gifts by Farmers and Ranchers

Chapter Eight: Estate and Gift Tax Considerations

*§ 8.2 Federal Gift Tax

Chapter Nine: Special Gift Situations

§ 9.3 Inventory

§ 9.7 Conservation Property

*Easements and Other Conservation Property

§ 9.10 Retirement Plan Accounts

§ 9.19 Bargain Sales

§ 9.22A Contributions by Estates

Chapter Ten: Other Aspects of Deductible Giving

§ 10.1 Valuation of Property

*§ 10.7 Interrelationship with Business Expense Deduction

§ 10.14 Penalties

*§ 10.15 Transactions of Interest

Part Four: Planned Giving

Chapter Twelve: Charitable Remainder Trusts

*§ 12.4 Issues

*§ 12.12 Calculation of Charitable Deduction

Chapter Thirteen: Pooled Income Funds

§ 13.7 Pass-Through of Depreciation

Chapter Sixteen: Charitable Lead Trusts

§ 16.7 Private Foundation Rules

Part Five: International Charitable Giving

Chapter Eighteen: *International Giving by Individuals during Lifetime

Part Six: Administration of Charitable Giving Programs

Chapter Twenty-One: Substantiation and Appraisal Requirements

§ 21.3 Substantiation Requirements for Gifts of $250 or More

§ 21.4 Substantiation Requirements for Noncash Gifts

*§ 21.5 Appraisal Requirements

§ 21.7 Appraisals of Clothing and Household Items

*§ 21.8 Burden of Proof Rules

Chapter Twenty-Three: Special Events, Corporate Sponsorships, and Donor-Advised Funds

§ 23.4 Donor-Advised Funds

Part Seven: Appendices

*Appendix H: Monthly Federal Interest Rates Used in Valuing Partial Interests (IRC § 7520)

Appendix I: Deemed Rates of Return for Transfers to New Pooled Income Funds

Tables

Cumulative Table of Cases

*Cumulative Table of IRS Revenue Rulings and Revenue Procedures

Cumulative Table of IRS Private Determinations Cited in Text

Cumulative Table of IRS Private Letter Rulings, Technical Advice Memoranda, and General Counsel Memoranda

*Table of Cases Discussed in Bruce R. Hopkins' Nonprofit Counsel

*Cumulative Table of IRS Revenue Rulings Discussed in Bruce R. Hopkins' Nonprofit Counsel

Cumulative Table of Private Letter Rulings and Technical Advice Memoranda Discussed in Bruce R. Hopkins' Nonprofit Counsel

*Table of Charitable Giving Law Tax Reform Proposals

Cumulative Index

End User License Agreement

Guide

Cover

Table of Contents

Begin Reading

Part 1

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The Tax Law of Charitable Giving

Making Strategy Work Using the Balanced Scorecard

Fifth Edition2016 Cumulative Supplement

Bruce R. Hopkins

Cover Design: Wiley

Cover Image: ©iStockphoto.com/Trifonov_Evgeniy

Copyright © 2016 by Bruce R. Hopkins. All rights reserved.

Published by John Wiley & Sons, Inc., Hoboken, New Jersey.

Published simultaneously in Canada.

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ISBN 978111876803; ISBN 9781119238317 (Supplement)

ISBN 9781119238461 (ePDF)

ISBN 9781119238454 (ePub)

Preface

This is the second Preface to accompany the fifth edition of this book. This cumulative supplement essentially covers developments in the charitable giving context for the multi-month period ending as of the close of 2015.

This supplement reflects the various extensions of law occasioned by enactment of the Tax Increase Prevention Act of 2014. It also includes the law changes made by enactment, on December 18, 2015, of the Protecting Americans from Tax Hikes Act of 2015 (aka the PATH Act).

The supplement also encompasses the extraordinary amount of litigation that is taking place in this field, particularly in the realms of gifts (or ostensible gifts) of easements, valuation of property that is the subject of charitable giving, the substantiation and appraisal requirements, and application of accuracy-related penalties in the charitable deduction context. There have even been two court opinions denying estates a charitable contribution deduction for distributions for charitable purposes because the amounts were not permanently set aside, as well as a court opinion concerning determination of the value of the remainder interest in a net-income make-up charitable remainder unitrust.

Final regulations were issued concerning a transaction of interest involving dispositions of assets from charitable remainder trusts. Proposed regulations have been issued to implement the exception to the general charitable gift substantiation requirement, by which some organizations may file information returns with the IRS that report the required information about contributions.

The IRS has contributed some private letter rulings in the charitable giving area, and an interesting chief counsel advice memorandum concerning the circumstances when a charitable gift may be deductible as a business expense.

The potential for tax reform looms. Consequentially, this cumulative supplement includes a new table, this of proposed and House of Representatives-passed law revisions in the charitable giving setting.

My thanks go to my editor, Matthew Davis, and Dawn Kilgore, production editor, for their assistance and support in connection with this cumulative supplement.

Bruce R. Hopkins

February, 2016