12 Days Of Charitable Giving 2015 Starts Soon

I did a double take when I checked my calendar this morning: there are only five Fridays left in 2015. That means there are just a few weeks left to whittle down your taxable income for the year (check for year-end tips soon). It also means that the 12 Days Of Charitable Giving 2015 are coming. … Read more

Be Smart When Being Charitable: IRS Warns On SC Flood Relief Scams

“This is a Hugo-level event,” declared Maj. Gen. Robert Livingston, head of the South Carolina National Guard. Maj. Gen. Livingston was comparing the last week’s flooding in the Palmetto State to the category 5 hurricane that caused widespread damage in Charleston nearly 25 years ago. The devastating floods in the state were considered a 1 … Read more

Carson Wants IRS To Revoke Tax Exempt Status For Muslim Advocacy Group

We ask Mr. Ben Carson to withdraw from the presidential race because he is unfit to lead, because his views are in contradiction with the United States Constitution. Those were the words of Nihad Awad, Founder of Council on Islamic-American Relations (CAIR) in response to comments made by GOP presidential hopeful Dr. Ben Carson stating … Read more

Vet Group That Endorsed Trump Lost Tax Exempt Status Months Ago

Sen. Rand Paul wasn’t the only presidential candidate hoping to generate some publicity in the run up to the GOP presidential debate. On Tuesday, presidential candidate and businessman Donald Trump made a policy speech in advance of the debates aboard the retired battleship USS Iowa. The USS Iowa, now a museum, was built 75 years ago. Due … Read more

Michael Jordan Nets Multimillion Dollar Verdict, Pledges To Give It Away

$8.9 million. That’s what a Chicago jury agreed was the value of using Michael Jordan’s name for a one-time spot in a magazine. The decision came after an extensive lawsuit involving Dominick’s Finer Foods, a Chicago-area grocery store chain owned by Safeway, Inc. The chain was in business for nearly 90 years before shuttering their … Read more

It’s No Joke: Colbert Announces Funding For All SC Public School Requests On DonorsChoose

Earlier this month, South Carolina public school teachers received some good news when Stephen Colbert announced that he would fund all of their existing grant requests on the web site DonorsChoose.org. The announcement, made at a surprise event at Alexander Elementary School, means that nearly 1,000 projects totaling more than $800,000 in 375 schools will … Read more

Tax Deadline Looms For Tax Exempt Organizations

Tax season isn’t over just yet! Friday, May 15, 2015, marks the filing deadline for many tax exempt organizations. Information returns for tax exempt organizations (called the 990-series) are due on the 15th day of the fifth month after the close of the tax year. That means that tax exempt organizations with a calendar year … Read more

Fix The Tax Code Friday: NFL, Money & Tax Exempt Status

Earlier this week, the National Football League (NFL) announced that it would voluntarily give up its tax exempt status. The NFL has been tax exempt since 1942 under section 501(c)(6) of the Internal Revenue Code which grants tax exempt status to organizations with a goal “to promote the common business interest” with activities “directed to … Read more

NFL Will Give Up Tax-Exempt Status, Calling It A ‘Distraction’

On February 15, 2014, Baltimore Ravens running back Ray Rice got onto an elevator with his then-fiancee, now-wife Janay Palmer in Atlantic City, New Jersey. When the doors opened, Palmer was unconscious. Rice’s lawyer referred to the incident as “a minor physical altercation.” Despite public reaction to the violence, Rice was fined by the NFL … Read more

IRS Announces Special Tax Option For Contributions To Funds For Slain NYPD Officers

On December 20, 2014, Ismaaiyl Brinkley walked up to a patrol car and shot NYPD Officers Wenjian Liu and Rafael Ramos at close range, killing both. Officer Liu had served seven years on the force and Officer Ramos served just two years. Both were family men: Officer Liu was a newlywed and Officer Ramos was … Read more