Nonprofit Accounting Basics

Federal Tax Issues

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

Originally Posted: July 10, 2013

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.

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

Originally Posted: December 28, 2010

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

Ballot Measures and Recalls: Basic Rules for 501(c)(3) Public Charities, 501(c)(4)'s and Unions

Originally Posted: June 29, 2021

As states grapple with a host of contentious issues, including severe budget cuts, efforts to alter public employee rights and benefits, and legislation to curtail public services, organized ef

Charities and Political Activity— The Unwelcome Spotlight

Originally Posted: January 26, 2021

Political candidates can be good for your nonprofit.  They raise the profile of your events, increase public interest in your activities, and prove to be good friends once in office.  Why

Common UBIT Myth Related to Nonprofit Revenue and Tax Impact

Originally Posted: September 8, 2021

Myth: “It doesn’t matter how I get the money in the door as long as I spend it on charitable activities.”

Disqualified Persons and the Intermediate Sanctions Excise Tax Regime

Originally Posted: August 11, 2021

Disqualified Persons and the Intermediate Sanctions Excise Tax Regime[1]

Foreign Account Reporting— More IRS Guidance is Here!

Originally Posted: April 27, 2010

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

Originally Posted: June 7, 2009

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

Lobbying and Political Activities Chart

Originally Posted: October 27, 2021

Nonprofits are allowed to lobby, but the type of nonprofit determines the level of lobbying allowed.  Some nonprofits can engage in political activity, but not all are allowed that flexibility

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

Originally Posted: February 10, 2014

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

Lobbying Requirements Comparison Chart

Originally Posted: September 29, 2021

Meet the New Form 1099-NEC

Originally Posted: March 24, 2021

The PATH Act (Protecting Americans from Tax Hikes Act) required that payments for services in 2017 be reported on Form 1099-MISC by January 31 of the following year.  However, if a payor was o

Paywall_Comparison of 501(c)(3)s*, 501(c)(4)s, and Political (527) Organizations

Originally Posted: May 20, 2021

Public Support Tests: Does Your Public Charity Pass the Section 509(a)(1) Test?

Originally Posted: March 28, 2022

To be a public charity, an organization must meet one of the Internal Revenue Code (Code) Section 509(a) tests.

Public Support Tests: Why You Might Prefer Public Charity to Private Foundation

Originally Posted: December 10, 2021

While the Internal Revenue Code Section 501(c) lists 29 different types of nonprofit organizations, most tax-exempt organizations are those described in Section 501(c)(3) and have a charitable, rel

Schedule A: The Key to Maintaining Public Charity Status

Originally Posted: June 30, 2014

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.

Taxability of Credit Card Cashback Rewards

Originally Posted: April 3, 2017

Most credit card companies offer some form of reward program to market their card and build customer loyalty.

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

Originally Posted: August 26, 2020

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

Originally Posted: August 26, 2020

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

When Does Your Activity Become Lobbying?

Originally Posted: August 24, 2021

What Your Nonprofit Needs to Know

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