IRS Signals Its Position on NIL Cooperatives’ Tax-Exempt Eligibility
Groups that coordinate opportunities for student athletes to benefit financially from their name, image, and likeness generally are not operating for an exempt purpose, according to a recent legal memorandum issued by the IRS.
IRS Proposes Regulations on Clean Energy Direct Pay Election
Colleges and universities, including public institutions designated as instrumentalities of their state, are eligible for direct payment of renewable energy tax credits.
Treasury and IRS Propose Guidance on IRA Prevailing Wage and Apprenticeship Rules
For organizations and institutions interested in claiming bonus amounts of federal tax benefits for clean energy and green building projects under the Inflation Reduction Act, the Treasury Department and the IRS have proposed regulations detailing the requirements, correction processes, and penalties related to the wage and apprenticeship provisions in the act.