2019 Estate & Gift Tax Exemptions

Estate Tax Exemption ("Basic Exclusion Amount")$11,400,000 Applicable Credit Amount$4,505,800 Generation-Skipping Transfer (GST) Tax Exemption$11,400,000 Gift Tax Annual Exclusion$15,000 Taxable Income Threshold at which Highest Rate Applies for Trusts/Estates$12,750...

Lobbying by Public Charities

Can a public charity engage in efforts to influence legislation? Yes, but not as a “substantial part” of its activities. Under IRC 501(c)(3), an organization will not qualify (or remain qualified) as tax-exempt if it carries on propaganda, or otherwise attempts to...

Churches and 501(c)(3) Status

Must a church file an exemption application in order to be recognized as tax-exempt under I.R.C. § 501(c)(3)? No. GENERAL RULE. An organization shall not be treated as tax-exempt under I.R.C. § 501(c)(3) unless it has given notice to the Secretary in such manner as...