Charity Loses Tax-Exempt Status for Active Participation in Political Campaign, Ltr. Rul. 200724033 (June 15, 2007)

 In this cautionary tale for charities with political agendas, the IRS revoked the status of a charity that was actively involved in a political campaign for attorney general in which abortion was a key campaign issue. read more »

Gift Options for Real Estate: The Good, the Bad, and the Magic!

Real estate - which may include a personal residence, vacation home, rental property, commercial property, farmland, timber, oil and gas, or an undeveloped tract - is a logical gift choice for many donors because it so widely held and often represents a significant percentage of personal net worth. read more »

IRS Publishes Sample Charitable Lead Annuity Trust Forms, Rev. Procs. 2007-45; 2007-29 IRB 1 and 2007-46; 2007-29 IRB 1 (June 22, 2007), www.irs.gov

After a long wait, the IRS has released sample forms for charitable lead trusts providing guidance and safe harbor provisions for planners. read more »

Treasury Report on Supporting Organizations and Donor Advised Funds Due By August 16, Pension Protection Act of 2006, §1226

Section 1226 of the Pension Protection Act of 2006 directed Treasury to study the organization and operation of donor advised funds and supporting organizations and report back to Congress no later than August 16, 2007. read more »