Unveiling Nonprofit Funding Via Form 990 Reform
Lawmakers from across the political spectrum agreed that Form 990 – annual information reporting required of most tax-exempt organizations – …
Ways and Means Seeks IRS Action on Minnesota Non-Profit Fraud Scheme
House Ways and Means Committee Chairman Jason Smith (R-MO) urged the IRS to take action to prevent taxpayer-funded fraud from …
Nonprofits Oppose New IRS Stance on Church Political Activities
Over 1,500 nonprofits have signed onto a letter urging President Trump and the IRS to maintain a long-standing prohibition on …
Exempt Org Foreign Reporting Forms Burdensome, IRS Told
Several organizations responded to an IRS request for comment on filing obligations of tax-exempt entities to say that three forms …
Rep. Pascrell Calls Foul College Coach Pay
A leading congressional tax writer spoke out against the practice of universities, especially Division I National Collegiate Athletic Association (NCAA) …
Client Update: Applying for Tax-Exempt Status
Tax Tip 2022-81 Entities applying for federal tax-exempt status should know the following: Organized and operated. To qualify for tax-exempt status …
No worthless debt deduction for unrepaid loan to 501(c)(4) org/political party
Chief Counsel Advice 201842006 In Chief Counsel Advice, IRS has concluded that a now-dissolved Code Sec. 501(c)(4) organization that made expenditures in …
2018 to Usher in Major Accounting Changes for Not-for-Profit Groups
The FASB’s not-for-profit accounting standard is the first major update to not-for-profit reporting in more than two decades. Because it …