Tax and Information Filings

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.

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.

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

Accrued Vacation

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

Advance Ruling Period Eliminated

During the process of applying for tax-exempt status under code Section 501(c)(3) an organization provides information showing that it is reasonable to expect that it will be publicly supported.

Best Practices

The Internal Revenue Service believes that promoting best practices in the areas of governance, management and disclosure will lead to a higher level of federal tax law compliance.

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.

Definition of an Officer

An officer is a person elected or appointed to manage an organization’s daily operations, such as a president, vice president, secretary, or treasurer.

Definition of Key Employee

The new definition of a key employee includes a three part test. To be a current key employee all three tests must be met:

The $150,000 Test

Direct Mail Costs—Program or Fundraising?

Are you mailing out your year-end giving letters soon? Many nonprofits send out a mailing around the holidays to help promote year-end giving.

Disaster Relief Organizations

There have been so many disasters in recent years, both natural and financial. Many individuals and companies are seeking ways to help those in need.

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.

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

Form 990 (Core Form)

The Form 990 contains a twelve page “core” form with the following twelve parts:

Part I is a summary of selected items contained in the balance of the return.

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.

Independent Voting Members of the Board

The definition of an independent voting member of the Board of Directors includes four criteria that must be met for independence:

Instructions and Samples for Form W-2

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

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.

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