Write-Offs

March 8, 2007 | Read Time: 1 minute

The Internal Revenue Service has issued rules for charities that participate in tax shelters later deemed illegal. In Notice 2007-18, the tax agency explains which tax-exempt organizations must report their participation in such shelters to the Internal Revenue Service and what they must do with any income received from the shelter. A copy of the notice is available online.
The Supreme Court has declined to review a case in which a town opposed a nonprofit organization’s decision to build a conference and training center within the township. The New York Court of Appeals had ruled that the Legion of Christ, an order of Roman Catholic priests, is permitted to build the center in Mt. Pleasant. The township opposed the move, saying it wanted the property to be developed for taxable uses. A copy of the Appeals Court decision is available online.