March 8, 2007

Write-Offs

By Elizabeth Schwinn

  • The Internal Revenue Service has issued rules for charities that participate in tax shelters later deemed illegal. In Notice 2007-18, the tax agency explains which tax-exempt organizations must report their participation in such shelters to the Internal Revenue Service and what they must do with any income received from the shelter. A copy of the notice is available online.
  • The Supreme Court has declined

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