Tax exemptions

Yvon Chouinard described his decision to give away the outdoor apparel-maker as his last-ditch effort to do all he could to protect the planet, but the deal is structured in ways that bring his family tax perks.

The information came from the Form 990-T, the business tax returns filed by tax-exempt organizations.

The Internal Revenue Service is coming under fire in Congress again, this time for lax oversight of fraudulent charities that applied for tax-exempt status and received approval.

The move would eliminate the company’s access to cheaper tax-exempt financing through the special district.

Rep. Bill Pascrell is looking at coach compensation information to see if their large salaries run afoul of the schools’ tax-exempt status.

A new bill would end the tax-exempt status for new sales of municipal bonds that finance professional sports stadiums.

Congress is asking questions about the high salaries paid to college football coaches at some top schools that receive tax exemptions from the Internal Revenue Service.

A bipartisan bill would strip the International Olympics Committee of its tax exemption.

A senior Democrat is expanding his inquiry into whether some college football coaches' compensation packages run afoul of laws for tax-exempt organizations.

The service has revised Form 1024 to permit electronic filing and is beginning to require applications for tax-exempt status to be e-filed.