In the waning days of 2018, the IRS released final regulations on the new partnership audit rules under the Bipartisan Budget Act of 2015 (BBA). While these rules are typically thought of in the for-profit context, they can have a significant impact on exempt organizations whose investment portfolios include alternatives.
Earlier this month, the New York Attorney General issued a new guidance document regarding the sale of non-profit nursing homes to for-profit buyers.
On July 16th, the IRS issued controversial guidance eliminating the requirement for non-charitable exempt organizations to report the names of contributors on their tax returns.
The guidance is the end, for now, of a simmering political controversy relating to information available to the government regarding “dark money” and donations to non-charitable exempt organizations.