Attorneys

Experience

Jim Kearney is of counsel with the corporate taxation practice group. Jim’s practice places particular emphasis on corporate, partnership, and international transactional tax issues; executive compensation and related employee benefits issues; and organizational and operational issues facing tax-exempt organizations.

Prior to his affiliation with HunterMaclean, Jim worked as an attorney in the Office of Chief Counsel for the Internal Revenue Service for thirty-three years. Jim worked most recently at the Office of Chief Counsel in Jacksonville, Florida, where he specialized in complex corporate, partnership, and international tax matters, representing the IRS during tax audits and litigation with the largest multinational entities based in the United States. Prior to Jacksonville, Jim served in the Office of Chief Counsel headquarters in Washington, D.C., where he managed the tax litigation nationwide within the IRS Industry Specialization Program, dealing with various industries’ specific complex tax issues. Jim began his career with the IRS as a trial attorney, representing the IRS in the U.S. Tax Court and other federal courts in New Jersey and Washington, D.C.

Originally from New Jersey, Jim received his B.S. from Mt. St. Mary’s College, M.B.A. from Seton Hall University, J.D. from Seton Hall University School of Law, and LL.M. from Georgetown University.

Publications & Presentations

Publications

Have You Checked Your Tax Status Lately?

By James Kearney, published on July 13, 2011, in Business in Savannah.

The IRS recently published a list of organizations that automatically lost their tax-exempt status due to a failure to file information returns for three consecutive years. This first round of automatic revocations reduced the nonprofit sector by 17 percent or by 279,595 nonprofit organizations total.

The automatic revocations stem from a change in the law included in The Pension Protection Act of 2006. Effective for tax year 2007, this law requires most tax-exempt organizations, with the exception of churches and most church-related organizations, to file an annual information return with the Internal Revenue Service (IRS). Any exempt organization that fails to file a return for three consecutive years will automatically lose its tax-exempt status. Prior to this law, many small organizations with revenues under $25,000 had no filing requirement.

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