Many organizations aren’t aware of some of the ramifications that can occur.
Charitable organizations must be operated exclusively for tax-exempt purposes. No part of the net earnings is to benefit private shareholders or individuals. Prior to enactment of code section 4958, which states that there would be intermediate sanctions for public charities and taxes imposed on the disqualified person involved in excess benefit transactions, the IRS’s only remedy when it encountered excess benefits transactions was to revoke the tax exempt status of the organization; which in many cases was a harsh decision. This video reviews intermediate sanctions, rebuttable presumption of reasonableness, taxes on organization managers, and safe harbors.
Nixon Peabody LLP
Anita L. Pelletier
- Serves as counsel in Nixon Peabody’s nonprofit practice group
- Advises nonprofit organizations in matters relating to legal requirements and best practices in connection with governance and operational matters
- Conducts regular seminars and workshops on nonprofit governance, issues relating to tax-exempt status, and charitable solicitations
- Member of the National Association of College and University Attorneys (NACUA), American, New York, and Monroe County bar associations, and involved with the Greater Rochester Association of Women Attorneys
- Received numerous awards for her commitment to pro bono service
- Selected by peers for inclusion in The Best Lawyers in America© in the field of Nonprofit/Charities Law, has been listed since 2017
- J.D. degree, summa cum laude, Syracuse University College of Law; M.P.A degree, Maxwell School of Public Administration; B.A. in economics, St. John Fisher College
- Can be contacted at [email protected] or 585-263-1164
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