Non-Profit Organizations: Avoiding, Correcting and Reporting Excess Benefit Transactions
Recording of a 110-minute CPE/CLE webinar with Q&A
This course will prepare tax advisers and counsel for tax-exempt organizations to identify, remedy and report excess benefit transactions and to minimize excise tax and other sanctions arising from prohibited transactions. The panel will review different types of excess benefit transactions, and identify potential disqualified persons, tax penalties and revocation standards. The program will also discuss recent case law developments.
- IRC excess benefit transactions
- Section 4598 excise taxes
- Automatic excess benefits
- Disqualified persons
- Remedying excess benefit transactions
- Form 990 reporting requirements and disclosures
- Planning strategies
- Donor-advised funds and supporting organizations
The panel will review these and other key questions:
- What constitutes an excess benefit transaction and a disqualified person for a 501(c)(3) or 501(c)(4) organization?
- What steps can these organizations take to avoid excess benefit transactions?
- What are the reporting requirements and how should potential EBTs be disclosed on the organization’s Form 990?
- What factors does the IRS consider in determining whether to revoke an organization’s tax-exempt status?
David A. Levitt
Adler and Colvin
Mr. Levitt’s practice focuses on the representation of nonprofit and tax-exempt organizations, with an emphasis... | Read More
Mr. Levitt’s practice focuses on the representation of nonprofit and tax-exempt organizations, with an emphasis on program-related investments, political advocacy, and nonprofit corporate governance. He is the former Secretary of the Exempt Organizations Committee of the ABA Tax Section.Close
Joel Beck-Coon, Esq.
Adler & Colvin
Mr. Beck-Coon’s practice focuses on the representation of non-profit and tax-exempt organizations and individual... | Read More
Mr. Beck-Coon’s practice focuses on the representation of non-profit and tax-exempt organizations and individual philanthropists. Prior to joining the firm he practiced as a corporate transactional attorney at an international law firm in Silicon Valley and as a legal and business affairs intern at the Skoll Foundation and William & Flora Hewlett Foundation.Close