Taxes & Exemptions
Tax Exemption
Asiatico Law assists nonprofit organizations in applying for and maintaining exemptions from paying federal and state income taxes, certain property taxes, sales taxes, and various other local and municipal taxes. In order to maintain tax-exempt status, your organization must comply with certain regulations and restrictions that affect the way you conduct events, operations, and activities, including business activities, executive compensation, unrelated business income, and political campaign and lobbying activities. Asiatico Law understands the complexities of tax-exempt organization law and will advise you on best practices to maintain your tax-exempt status and avoid unnecessary taxes and penalties without impeding your ability to further your mission and carry out your nonprofit purposes. Our tax exemption services include:
• Federal and state applications for recognition of tax exemption, including group exemptions
• Best practices for maintaining tax-exempt status
• Representation in proceedings with the IRS and state taxing authorities
• Compliance with IRC § 4958 (the Intermediate Sanctions Act) regarding IRS guidelines for reasonable compensation of disqualified persons
• Business activities and unrelated business income tax (UBIT)
• Guidance on IRS regulations regarding excess benefit transactions, private inurement, self-dealing, political and campaign activity, lobbying, and fundraising activities
• Public charity support tests and qualification
• Private foundation rules and regulations
• Operating foundation and supporting organization qualification
• Corporate sponsorships
• Federal and state reporting, including Form 990
Tax
• Unrelated business income tax guidance
• Administrative appeals and audit representation
• Representation before IRS, state and local tax authorities, and U.S. Tax Court
• Tax reporting (payroll, annual information returns, etc.)
• Tax implications of business transactions
People
Taxes & Exemptions
Tax Exemption
Asiatico Law assists nonprofit organizations in applying for and maintaining exemptions from paying federal and state income taxes, certain property taxes, sales taxes, and various other local and municipal taxes. In order to maintain tax-exempt status, your organization must comply with certain regulations and restrictions that affect the way you conduct events, operations, and activities, including business activities, executive compensation, unrelated business income, and political campaign and lobbying activities. Asiatico Law understands the complexities of tax-exempt organization law and will advise you on best practices to maintain your tax-exempt status and avoid unnecessary taxes and penalties without impeding your ability to further your mission and carry out your nonprofit purposes. Our tax exemption services include:
• Federal and state applications for recognition of tax exemption, including group exemptions
• Best practices for maintaining tax-exempt status
• Representation in proceedings with the IRS and state taxing authorities
• Compliance with IRC § 4958 (the Intermediate Sanctions Act) regarding IRS guidelines for reasonable compensation of disqualified persons
• Business activities and unrelated business income tax (UBIT)
• Guidance on IRS regulations regarding excess benefit transactions, private inurement, self-dealing, political and campaign activity, lobbying, and fundraising activities
• Public charity support tests and qualification
• Private foundation rules and regulations
• Operating foundation and supporting organization qualification
• Corporate sponsorships
• Federal and state reporting, including Form 990
Tax
• Unrelated business income tax guidance
• Administrative appeals and audit representation
• Representation before IRS, state and local tax authorities, and U.S. Tax Court
• Tax reporting (payroll, annual information returns, etc.)
• Tax implications of business transactions