Charitable organizations, fundraisers and sponsors must understand state charitable fundraising regulations and reporting requirements. Currently, 45 states and the District of Columbia have some degree of statutory regulation of charitable solicitation activity conducted within their borders. Failure to comply with state regulations can result in monetary penalties to “cease- and-desist” orders to intervention in an organization’s operations by the state attorney general.
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As you may be aware, there have been several changes in due dates for federal tax returns. These changes are generally effective for tax years starting after December 31, 2015 – that is, for 2016 tax returns prepared during the 2017 filing season. These modifications relate mostly to flow-through entities, including partnerships and S corporations that provide Schedule K-1s to their partners and shareholders.