Illinois Tax Credit Program to Benefit Participating Taxpayers, Schools, and Students

Non-public schools have an opportunity to receive funds through the Illinois “Invest in Kids” Act, effective January 1, 2017. The Act offers an innovative way for qualified Illinois private schools to receive additional funding, for supporters of these schools to claim an income tax credit against their tax liability, and for Illinois students to receive scholarships. How can your non-public school take advantage of this opportunity?

Congress Seeks to Restrain IRS on “Dark Money” Schedule B Donor Disclosures

Are tax-exempt organizations required to disclose their major donors on their IRS Form 990 Schedule B’s, or not?  In July 2018, the IRS issued Revenue Procedure 2018-38, answering “no” for Section 501(c)(4) and other tax-exempt organizations, but leaving the disclosure requirement intact for Section 501(c)(3) organizations and Section 527 political action committees (known as PACs).

Pages