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Lila Leno
Sep 24, 2019

The new nonprofit financial statement format, ASU 2016-14, is currently being adopted by nonprofit organizations because the standard is generally effective for calendar 2018 and fiscal 2019 year-ends. There are a number of major areas affected by the new standard and the Liquidity is one of them.

R. Michael Sorrells, CPA
Aug 29, 2019

On July 1, 2019, the President signed H.R. 3151, the Taxpayer First Act (the Act). The Act, while revenue-neutral, contains many provisions which improve services to taxpayers and change certain IRS administrative procedures.

A couple of provisions in the Act directly affect tax-exempt organizations:

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