Several years ago, the IRS issued Notice 2012-52, 2012-35 IRB 317 which provides that contributions made to a domestic limited liability company (an “LLC”) that is wholly owned by a domestic charity are deductible assuming all of the other requirements of IRC Section 170 are met.  Before this Notice was issued, it was uncertain whether contributions to such entities were deductible under IRC Section 170 because the IRS had refused to rule that a […]

The Delaware Legislature appears to have heard some of the complaints of the unclaimed property community. Delaware Governor Jack Markell signed Senate Bill 11, which is based on the recommendations of the Delaware Task Force to Study and Make Findings and Recommendations to Improve Fairness and Compliance, established under the provisions of Delaware Senate Concurrent Resolution No. 59.

The holder community has expressed frustration time and again over the practices of the state’s aggressive contingent […]