Tax Exempt Organizations

Exemption from federal taxation is crucial to many non-profit organizations. IRS approval of tax-exempt status relieves financial pressure on the organization by both encouraging donations and allowing the organization to maximize its revenue.

However, obtaining tax-exempt status is not easy. Realizing that the area is ripe for potential abuse, Congress and the IRS have implemented a complex regulatory regime that Tax Exempt Organizations (TEOs) must navigate. Moreover, this complex regulatory regime undergoes consistent changes and updates as Congress and the IRS respond to new challenges.

The lawyers at Fuerst Ittleman David and Joseph’s tax practice can guide your TEO form application for exempt status through its operational stages and restructuring, allowing the TEO to focus its energy, as it should, on advancing its causes.

We assist TEOs with:

  • Entity choice and structuring decisions;
  • Exemption applications;
  • Litigation of disputes with the IRS regarding an exempt status determination;
  • Corporate governance and compensation issues;
  • Mergers and restructurings;
  • Ensuring compliance in the TEO’s operations to maintain exempt status;
  • Unrelated business income tax planning;
  • Joint ventures with for-profit entities; and
  • Obtaining financing.

 

Fuerst Ittleman David & Joseph’s attorneys have experience representing a wide range of nonprofit organizations, such as:

  • Churches and other religious organizations;
  • Foundations;
  • Hospitals;
  • Trade associations;
  • Schools; and
  • Social welfare organizations.

 

Further, we have extensive experience in representing for-profit entities in transactions involving TEOs. The presence of a TEO in a transaction creates unique planning opportunities for a for-profit organization involved in the transaction. Our experience can help clients choose the optimal structure for their transaction and to maximize the benefits afforded by transacting with a nonprofit entity.

Fuerst Ittleman David & Joseph’s comprehensive experience with a wide range of legal issues commonly faced by TEOs ensures that we can provide your organization with high-quality service in an efficient manner.

For more information, please contact us at contact@fuerstlaw.com or call us directly at 305-350-5690.