On July 17, 2020, the Board of Governors of the Federal Reserve System (Federal Reserve) announced the terms of an expansion of the Main Street Lending Program to include loan
Continue Reading Main Street Loans to Be Extended to Nonprofits

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Harry J. Friedman has a wide-ranging experience in the area of general business tax planning, including the formation of joint ventures, limited partnerships and limited liability companies, consolidated tax returns, and mergers and acquisitions of both private and public corporations. In addition, Harry provides advice and counseling to tax exempt organizations including hospitals, private schools, and scientific research organizations on maintaining tax-exempt status, unrelated trade or business income issues, and joint ventures as well as corporate governance issues.
On July 17, 2020, the Board of Governors of the Federal Reserve System (Federal Reserve) announced the terms of an expansion of the Main Street Lending Program to include loan…
Continue Reading Main Street Loans to Be Extended to Nonprofits
On June 5, 2020, the IRS issued proposed Treasury Regulations under section 4960 of the Internal Revenue Code of 1986, as amended (the Code).
Background
Section 4960 was added to
…
Continue Reading IRS Issues Proposed Regulations on Excess Nonprofit Executive Compensation
Political activities of charities and other types of exempt organizations frequently rise in prominence in presidential election years. Not only is the IRS sensitive to political activities in a presidential…
Continue Reading Section 501(c)(3) Organization Prohibited Political Activities
The Tax Cuts and Jobs Act included a provision increasing taxes on tax-exempt organizations. New Internal Revenue Code Section 512(a)(7) required that tax-exempt organizations include in computing unrelated business taxable…
Continue Reading 2019 Tax Act Effects on Tax-Exempt Organizations; Required Section 501(c)(4) Notices
On July 17, 2018, the Treasury Department issued new guidance for certain tax exempt organizations. The guidance pertains to the disclosure of the names and addresses of donors to organizations…
Continue Reading IRS Disclosure Rules for Some Exempt Organizations Changed
Section 338(h)(10) of the Internal Revenue Code can provide significant tax benefits to a buyer of 80% or more of a target corporation. A 338(h)(10) election allows a buyer of…
Continue Reading GT’s Quick Guide to Section 338(h)(10) Elections