To help its clients address the risks - and take advantage of the benefits - that accompany tax-exempt status, KPMG LLP formed the Exempt Organizations Tax (ExoTax) practice, a national network of tax professionals. ExoTax professionals focus on the tax issues facing tax-exempt organizations and their taxable affiliates.
ExoTax clients – such as hospitals, universities, cultural institutions, charities, private foundations, governmental entities and others – are generally concentrated in the firm’s Health Care and Nonprofit industry groups. ExoTax personnel also work with the firm’s largest clients across all industry groups – on issues involving, for example, corporate foundations and charitable giving.
KPMG’s ExoTax practice offers tax services to tax-exempt organizations and their taxable affiliates such as corporations and partnerships in the following areas:
- Evaluation of tax risks and opportunities
- Structure and implementation of transactions
- Assistance with IRS exams and in obtaining IRS determinations and private letter rulings
- Preparation of tax returns; assistance with other tax compliance requirements