Charitable Organization

Tikar Inc. v. Commissioner
T.C. Memo. 2021-53

On May 6, 2021, the Tax Court issued a Memorandum Opinion in the case of Tikar Inc. v. Commissioner (T.C. Memo. 2021-53). The primary issue presented in Tikar Inc. v. Commissioner was whether Tikar (organized to present exposition of African art owned by a corporation and to promote African art, generally) was operated exclusively for one or more exempt purposes pursuant to IRC § 501(c)(3). The Blessed Rains Down in Africa in Tikar Inc. v. Commissioner

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Charities

No Charitable Exemption for an Organization Formed to Support One Individual

Explaining the most simple tax concepts to Uncle Bill is a task requiring herculean patience.  Explaining why there will be no charitable exemption for an organization formed to support one individual, even if said individual is his current favorite son, Leroy, left you with a deficit of patience that will not be soon refilled. Background Cousin Leroy is not entirely sure what happened. From what he can remember before he blacked out, he turned the

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Tikar Inc. v. Commissioner
T.C. Memo. 2021-53

On May 6, 2021, the Tax Court issued a Memorandum Opinion in the case of Tikar Inc. v. Commissioner (T.C. Memo. 2021-53). The primary issue presented in Tikar Inc. v. Commissioner was whether Tikar (organized to present exposition of African art owned by a corporation and to promote African art, generally)

Read More »