February 2017

The Benefits of Program-Related Investments

By | February 14, 2017|Categories: Nonprofit|Tags: , , |

In our previous blog, No Strings Attached, we discussed the importance of unrestricted general operating support from grant makers.  However, general operating support may not be the best – or only way – to assist every grantee organization. Instead of, or in addition to a grant, program-related investment (PRI) sometimes makes sense. If you haven’t [...]

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October 2016

Section 181 Film Production Tax Incentive

By | October 12, 2016|Categories: Media Clips, Taxing Thoughts|Tags: , , , , , , , , , |

By: Dan Li (Senior Manager, Green Hasson Janks) and Daniel Rowe (Principal, Green Hasson Janks) In previous blog posts, we have written about federal and state tax incentives for the entertainment industry, including the Section 199 domestic production activities deduction (DPAD) and state film tax credits. Another significant federal tax incentive is the Section 181 [...]

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September 2016

Home Mortgage and Equity Loan Interest Deduction Limitations

By | September 1, 2016|Categories: Taxing Thoughts|Tags: , , , , , |

By Jennie Tieu (Senior Manager, Green Hasson Janks) Most taxpayers are aware that the mortgage interest deduction is limited to $1 million of acquisition indebtedness and $100,000 of home equity indebtedness on a qualified residence. These limitations apply to a single taxpayer or married taxpayers who jointly file their tax return. In the case of a [...]

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August 2016

Nonprofit Compensation

By | August 18, 2016|Categories: Nonprofit, Taxing Thoughts|Tags: , , , , , , , |

By: Blair Howard (Intern, Green Hasson Janks) and Lauren Haverlock (Principal, Green Hasson Janks) Managing executive compensation for the highest paid executives in any company can be difficult, but it becomes much more complex when discussing tax-exempt organizations. Not only must a nonprofit consider the effects of salary levels on the operating budget, the organization [...]

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March 2016

The IRS’s International Focus

By | March 25, 2016|Categories: Taxing Thoughts|Tags: , , , , , , , , , , , , , , |

By Jason Booth (Principal, Green Hasson Janks) For years now an ongoing debate has taken place on Capitol Hill about U.S. international tax policy reform.[1] Amongst many others, arguments have been made regarding lowering the U.S. corporate statutory tax rate (in 2015, it was the higher than any other Organisation for Economic Co-operation and Development [...]

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March 2014

Be Suspicious of Any Calls Claiming to be from the “Internal Revenue Service”

By | March 24, 2014|Categories: Taxing Thoughts|Tags: , , , , , , , |

By: Jigna Mehta More than 20,000 taxpayers have been targeted recently by calls from fake Internal Revenue Service agents. Thousands of victims, nearly in every state, have lost a total of more than $1 million. According to J. Russell George, Treasury Inspector General for Tax Administration, the fake IRS agents call taxpayers claiming they owe [...]

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March 2012

More Information Regarding the Administration’s Business Tax Reform Proposals

By | March 9, 2012|Categories: Taxing Thoughts|Tags: , , , , |

On February 22, the Treasury Department released “The President's Framework for Business Tax Reform.” The document outlines the Administration’s overall view of the tax system and its proposals for reform. The general view of the U.S. tax systems is that high corporate tax rate along with the existing corporate tax “loopholes” has made the system [...]

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February 2012

The IRS “Dirty Dozen”

By | February 22, 2012|Categories: Taxing Thoughts|Tags: , , , , , , , , , , , , |

On February 16th, the IRS published its list of top 12 “tax scams” for 2012 dubbed the “Dirty Dozen.” “Taxpayers should be careful and avoid falling into a trap with the Dirty Dozen,” said IRS Commissioner Doug Shulman. “Scam artists will tempt people in-person, on-line and by e-mail with misleading promises about lost refunds and [...]

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December 2011

Offshore Tax Evasion – A Continuous Focus for the IRS

By | December 15, 2011|Categories: Taxing Thoughts|Tags: , , , , , |

Earlier today, IRS Commissioner Douglas Shulman addressed the 24th Annual Institute on Current Issues in International Taxation which is sponsored by the George Washington University School of Law and the IRS. As always, those of us who work in the "tax world" listen carefully to the comments made by the Commissioner in order to understand [...]

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An Employer Can Be Liable for Unpaid Taxes of Their Employees

By | December 12, 2011|Categories: Taxing Thoughts|Tags: , , , , |

Employers who are tasked with complying with the U.S. tax system, already one of the world's most complicated and onerous, may now be looked upon as collection agents for the IRS. In a recently issued opinion (U.S. v. Heli USA Airways, Inc.), a district court determined that an employer is liable for an employee's unpaid [...]

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