Nonprofit Accounting Basics

Federal Tax Issues

501(c)(4) Organizations and the IRS: A Little Background on the Controversy

The IRS Exempt Organizations group (EO) has admitted to at least some inappropriate targeting of politically-conservative Section 501(c)(4) organizations in the exemption application process.

About E-Filing

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

Accounting for Uncertain Tax Positions: A Requirement for Nonprofit Financial Statements

FIN 48, Accounting for Uncertain Tax Positions (now codified as ASC 740-10) was made a requirement for any entity with financial statements prepared in accordance with generally accepted acc

Charities and Political Activity—Steering Clear of Risks in an Election Year

Most board members and charity CEOs know the IRS prohibits their organizations from supporting or opposing candidates for public office.

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.

Expanded Work Opportunity Tax Credit Available for Hiring Qualified Veterans

Recent changes to the Work Opportunity Tax Credit (WOTC) have made incentives for hiring eligible veterans available to qualified tax-exempt organizations.

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

IRS Code Sections Relating to Exempt Organizations

The IRS maintains a listing of the code sections that apply to exempt organizations.

IRS Compensation Findings for 501(c)(3) and 501(c)(4) Organizations

Once a scandal erupts, there’s very little chance any other initiative that has been undertaken by a group will receive much attention.

Lobbying

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

Lobbying by Public Charities: The 501(h) Safe Harbor

The issue of lobbying by 501(c)(3) public charitable organizations has long been a confusing area.

Schedule A: The Key to Maintaining Public Charity Status

Many public charities have to pass an annual public support test in order to maintain public charity status and avoid being classified as private foundations.

The Form 1023-EZ (Part 1 of 2): Overview and Controversy

On July 1, 2014, the IRS revolutionized the nonprofit world by finalizing and launching the Form 1023-EZ, a new streaml

The Tax Consequences of Fee-for-Service (Part 1 of 2): The Exempt Purpose Test

The past decade has been marked by the increasing commercialization of the non-profit sector.

The Tax Consequences of Fee-for-Service (Part 2 of 2): The Unrelated Business Income Tax

In the first part of this two-part series, we discussed the growing commercialization of the non-profit sector, and examined how and when heavy reliance on “fee-for-service” revenue may be inconsis

UBIT Can Take a Bite Out of Alternative Investments

The uncertain economy and tempestuous financial markets of recent years have led some nonprofit organizations to turn to alternative investments.

Subscribe to Federal Tax Issues