Tax & Information Filings

2010 Changes to Form 990: Mostly Good Tweaks

As you know, the Form 990 underwent drastic changes in 2008. Thankfully, it had a few mostly cosmetic changes for 2009; 2010 modifications are largely in the same vein.

990N

For years, filing Form 990 was not required of organizations normally having less than $25,000 in gross receipts. That has changed.

About E-Filing

E-filing provides nonprofit organizations with easier preparation and quicker submission of their returns with the IRS.

Accrued Vacation

Most organizations include some paid time-off in their benefits packages offered to employees.

Donated Goods and Services

During this down economy, the donation of goods and services are getting more attention as many households turn to such gifts as an alternative means of providing support for various causes.

Employee Bonding

When you need to bond your employees

It is usually a requirement to bond employees that handle cash or other ready assets (stock certificates, etc).

Employee vs. Contractor

Before you can determine how to treat payments you make for services, you must first know the business relationship that exists between you and the person performing the services.

Foreign Account Reporting— More IRS Guidance is Here!

As announced in 2008 and 2009, Treasury and the IRS have greatly stepped up enforcement of the filing requirements for Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts ("FBAR

Form 990 Schedules

The following list notes the schedules that are part of the Form 990. Each schedule is completed only if the organization meets the requirements for filing the particular schedule.

Governance Review of the Form 990

Form 990, Part VI, Line 11 relates to the organization’s process for filing the Form 990 prior to the form being filed with the IRS. Line 11 includes two parts.

Important Notice for Small Organizations - New Filing Requirement

For years, filing Form 990 was not required of organizations normally having less than $25,000 in gross receipts. That has changed.

Instructions and Samples for Form W-2

Below are the instructions and sample of Federal Form W-2.

Lobbying

Below are five articles from the Alliance for Justice discussing lobbying rules for not-for-profit organizations.

Local Employment Taxes & Registration

In many areas, local governments at the county or township level may have an income tax in addition to the state withholding tax. The amounts of these local taxes vary widely from state to state.

New Form 990: Challenges and Lessons Learned

 

 

 

Outsourcing Payroll Duties

Many employers outsource some of their payroll and related tax duties to third-party payroll service providers.

Payroll Taxes -- A Hot IRS Initiative -- With a Burning Question: Employee or Independent Contractor

The IRS will be selecting 500 nonprofit organizations for payroll audits in each of the next three years (as well as a high number of for-profit companies).

Personnel Files

Keep only what you need in an employee's personnel file.

Taking the time to properly create and maintain your personnel files will pay off in the long run.

Sales and Use Tax

The rules for nonprofit sales/use tax vary considerably from state to state.

Schedule A

In this section we will cover:
  • Advance Ruling Period

Choose from menu topics to your left.

State

Use These Valuable Links To Connect To State Tax Home Pages

State Registrations

Charitable Registration: Most states require nonprofits who solicit contributions in their state to be registered in that state.

Unclaimed Property

Escheat Tax: More commonly called Unclaimed Property Tax, this can be a real trap for the unwary.

Unrelated Business Income Tax (UBIT)

Unrelated Business Income Tax: All but a few states require income tax to be paid on net unrelated business income.

Which 990 Form to File

There are threshold rules to consider when choosing the informational form an exempt organization should file. It should be noted that there are exceptions to each of these thresholds.

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