Nonprofits, Public Charities & Private Foundations
Just because an entity is tax exempt does not mean it doesn't have to worry about taxes. Tax exempt entities must ensure they are in compliance with all tax laws and other laws so that they do not lose their tax exempt status. There is an extensive statutory and regulatory framework in which public charities and private foundations must operate to maintain their tax-exempt status. This framework meets requirements at an organizational level (i.e. at formation) and at an operational level. Failure to comport with these rules can cause an entity to lose its tax exempt status and therefore cause its donors to lose the associated charitable deduction.
Related ServicesNo matter what type of exempt organization you are currently operating or are thinking about starting, you will need a team of lawyers who understand exempt organizations as a whole and can offer strategic advice on the array of tax, business, cultural, and political issues that are distinct to them. MacDonald Illig attorneys know how to organize tax exempt organizations and manage them properly throughout their lifetimes. Our attorneys understand what it takes to maintain tax exempt status for the organizations.
We also know how to avoid the tax penalties imposed by the IRS for violating laws associated with being a tax exempt organization. Being forced to pay the tax penalties imposed by the IRS for violating tax exempt organization laws can be catastrophic. Let our attorneys help you navigate through these difficult and complex tax exempt organization laws so that you can focus your attention on the charitable giving aspects of the organization.