The 2021 Nonprofit Counsel Summaries

January 2021

  • TE/GE Division Issues (Mini) FY 2021 Program Letter [Pub. 5313]

  • Another Appellate Court Reverses in Conservation Easement Case [Pine Mountain Preserve, LLLP v. Commissioner]

  • Conservation Easement’s Valuation Held to Support Promotion, Unreasonable [Glade Creek Partners, LLC v. Commissioner]

  • Façade Easement Deductions Saved Due to Ineffectual Local Law Enforcement [Kissling v. Commissioner]

  • Court Upholds Third-Party Summons in Conservation Easement Examination [Gretsch Stone, LLC v. United States]

  • GAO Critical of IRS’s Administration of Community Benefit Standard [GAO-20-679]

  • Transfers Between DP Trusts Ruled to Not Give Rise to Foundation Expectancy [PLR 202042007]

  • Private Benefit Doctrine Precludes Exemption [PLRs 202041007, 202041016, 202044011]

  • Distributions From Foreign Charity Ruled to Trigger Gift Tax 

  • Supreme Court Appears Likely to Again Rescue ACA [California v. Texas]

  • Other Recent IRS Private Letter Rulings [PLRs 202043003, 202046010]

  • Forms, Anyone? 

  • Affirmative Action Litigation Update [Students for Fair Admissions v. Harvard University]

  • Other Developments [Standing Akimbo, LLC v. United States]

February 2021

  • Charitable Deduction Valuation: Timing, Not Experts, Proves To Be Everything [Rajagopalan v. Commissioner; Sapp v. Commissioner]

  • 2020-2021 Priority Guidance Plan Released

  • Absence of Gift Triggers Gross Valuation Misstatement Penalty [Fakiris v. Commissioner (summarized in the September 2017 issue); United States v. Woods]

  • IRS Delays Foundations’ Electronic Filing of Forms 4720

  • Recent IRS Private Letter Rulings [PLRs: 202047005; 202047011; 202049005; 202050016; 202050017]

  • Supreme Court Update [Roman Catholic Diocese of Brooklyn v. Cuomo; Harvest Rock Church v. Newsom; CIC Services, LLC v. United States]

  • “Tax Insurance” Premiums Concerning Charitable Gift Adjustment Ruled Nondeductible [Chief Couns. Adv. Mem. 202050015]

  • IRS Updates Inflation Adjustments for 2021 [Rev. Proc. 2020-45]

  • IRS Sending Warnings As To Opportunity Funds

  • Other Developments [Chief Couns. Adv. Mem. 202044009]

March 2021

  • Final Excess Compensation Regs Issued

  • Selected Provisions of Coronavirus and FY 2021 Appropriations Legislation

  • IRS Applies Public Policy Doctrine—Twice [PLRs: 202053019; 202101007]

  • IRS Chief Counsel Advises Denials as to 27-Month Rule Relief

  • TIGTA Evaluates EO Examination Case Consolidation Efforts

  • Charitable Deductions Lost, on Appeal, Due to Partial Interest Gift and Faulty Appraisals [Mann v. Commissioner]

  • Other Recent IRS Private Letter Rulings [ PLRs: 202052016; 202053020; 202101002; 201907004 (see June 2019 issue); 202102012]

  • IRS Issues Procedural Rules for 2021 [Rev. Proc. 2021-1; Rev. Proc. 2021-2; Rev. Proc. 2021-3; Rev. Proc. 2021-5]

  • Taxpayer First Act Report Delivered

  • Other Development