Nonprofit Accounting Basics

Tax and Information Filings

Foreign Filings

Exempt organizations (EOs) may be required to provide information on its activities conducted outside the United States on a number of information forms, including Form 990.  These reporting r

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 Contractor vs. Employee: Let's Get it Right

Determining Whether the Individuals Providing Services are Employees or Independent Contractors

In determining whether the person providing service is an employee or an ind

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.

IRS Exempt Organizations Annual Report and Workplan: What the IRS is Up To!

On February 8, 2012, the IRS Exempt Organizations (EO) Group released its annual report and workplan.

IRS Issues Guidance on Calculating UBTI Under the New Tax Law

The IRS has issued long-awaited guidance regarding the calculation of unrelated business taxable income (“UBTI”) for exempt organizations under the new tax law.

Key Considerations for Audit/ Finance Committee Review for Form 990

With the transparency and public availability of the “new” Form 990, review of the Form 990 by audit or finance committees (and sometimes the entire governing body) has become a best practice adopt

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.

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.

Multistate Registration and Filing Portal RFI

For nonprofits who solicit charitable contributions around the country, the compliance burden of registering as a charity in each of the 39 jurisdictions which require registration can be time cons

New 1099 Requirement and Why It Will Impact Your Organization

The recently enacted Patient Protection and Affordable Care Act contains several major changes to the Form 1099 reporting requirements which will impose a substantial paperwork and record-keeping b

New IRS Program May Allow Exempt Organizations to Reclassify Contractors as Employees for Tax Purposes

The IRS recently announced some interesting news relating to the treatment of independent contractors: a voluntary program now provides an opportunity for taxpayers, including exempt organizations,

Nonprofit Corporate Compliance: Required Annual and Periodic Reports and the Consequences of Failing to Comply

To maintain corporate good standing status in most states, nonprofits are required to file annual or periodic reports with the Secretary of State, just like their for-profit counterparts.

Outsourcing Payroll Duties

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

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