LexisNexis® Legal Newsroom
A Funny Thing about Charities ... Some of Them Play Football

Are College Football Bowls Entitled to IRC 501(c)(3) Tax Exempt Status? There's only a few weeks left in college football's regular season, and after that, the various bowls will invite teams to participate in post-season play. Several of the bowls are famous and esteemed, their mere mention...

Final Regs on Income Ordering Rules for Payments to Charitable Beneficiaries

For a trust to qualify for the charitable deduction, a charitable contribution must be made from gross income. [ See IRC § 642(c) .] IRC Section 642 requires tracing since the source of the charitable contribution must be gross income rather than principal. The provisions of the governing instrument...