Self-Dealing in Nonprofits under Federal Tax Law 1 Credit
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Nov 20, 2024 | 04:00 PM
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Are you part of a nonprofit organization? Do you want to make sure that your organization is compliant with federal tax laws? Join us for a webinar on "Self-Dealing in Nonprofits under Federal Tax Law."
This webinar will focus on the federal excise taxes on self-dealing, both on private foundations and public charities. We will discuss the elements of self-dealing for private foundations, followed by examples of self-dealing and the different levels of tax. We will also discuss who the taxes are assessed on and the corrections that can be made to avoid tax penalties.
For public charities, we will discuss the definition of excess benefit transactions and disqualified persons. We will establish a rebuttable presumption of reasonableness and talk about the amount of excise taxes that may be imposed. Additionally, we will explore the available corrections that can be made to avoid excise tax penalties.
This Online Webinar will discuss self-dealing and federal tax law including:
Note for Follow up: Reporting to AG and IRS
Join this CPE Webinar to learn more about self-dealing in nonprofits and how to ensure that your organization stays compliant with federal tax laws. Our Expert Speaker Louis Michelson will provide valuable insights and practical tips to help you avoid common pitfalls and penalties.
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Mr. Michelson received his B.A. Degree, with general honors from the University of Chicago, his M.S. in Accountancy from DePaul University and his J.D. degree from UCLA School of Law. He has been admitted to practice with the U.S. Tax Court and the United States District Court, Central District of California.
Mr. Michelson is Past Chair of the Nonprofit Organizations Committee of the Business Law Section of the California Lawyers Association. He has served as Chair of the Tax-Exempt Organizations Committee of the Taxation Section of the State Bar of California, as Co-Chair of the Nonprofit Organizations Committee of the Business Law Section of the State Bar of California and as Chair of the Taxation Section of the Los Angeles County Bar Association. In May 2001 he participated in the Los Angeles County/California State Bar delegation to the Internal Revenue Service, Treasury and staff of the Congressional tax committees in Washington D.C. to discuss proposed guidance, as set forth in a co-authored paper, “Getting Connected: Business and Politics of Charities on the Internet.” Together with other attorneys, he assisted in reviewing and suggesting revisions to portions of the California Attorney General’s Guide to Charities. Mr. Michelson is a lecturer at UCLA Extension on tax issues for nonprofit organizations. He is also Adjunct Professor at David Nazarian College of Business and Economics California State University Northridge for a class on income taxation of trusts and estates. He has lectured for business and professional organizations and written articles on various federal and California tax topics. He is a member of the American, California, and Los Angeles County Bar Associations.
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Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.
To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.
After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.
We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.
KA
Very interesting topic. I do not deal with nonprofit organizations but I am very glad to have this background for general information.
WDGI
Very interesting topic. I don't get involved in subject, but find it fascinating how that business operates.
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