MossAdams - Steve Talbot

Industry Expertise

Higher Education Not-for-Profit

Biography

Steve has practiced public accounting since 2013, after a 25-year career in publishing and journalism. He serves a wide range of tax-exempt clients, including community charities, arts organizations, hospitals, and private foundations.

Steve works on tax compliance and consulting, including tax research on specific issues affecting the not-for-profit industry. He also writes many of the firm’s articles on topics related to tax-exempt entities.

Professional Affiliations

Member, American Institute of Certified Public Accountants
Member, New Mexico Society of Certified Public Accountants
Member, Finance Committee, Philanthropy Southwest

Education

BA, magazine journalism and English, Syracuse University
MA, accountancy, University of New Mexico

Insights from Steve Talbot

2024 Private Foundation Conference:
Day Two, Afternoon Sessions

Explore topics to help you navigate your private foundation’s financial and operational complexity at our annual virtual conference.

Corporations Can Boost Brand and Do Good with a Corporate Foundation

A corporate foundation can raise brand awareness, provide tax benefits, and more. Start yours with insights and resources.

IRS Issues Proposed Regulations on Donor-Advised Funds

Explore proposed regulations issued by the IRS that provide a definition of a donor-advised fund and more.

Final Regulations on Supporting Organizations Released

Explore final regulations that prohibit certain contributions to Type I and Type III supporting organizations.

How to Determine Interest on Self-Dealing Loans

The IRS Chief Counsel Advisory released a memorandum addressing how to treat interest on a self-dealing loan. Learn details.

Tax Deadline Extension Available for Disaster Areas in Certain States

Tax-exempt organizations in federally declared disaster areas in some states are getting relief on filing and tax-payment deadlines. Learn details.

How Credit Unions Qualify for the Employee Retention Credit (ERC Credit)

Some credit unions could qualify for the Employee Retention Credit (ERC) under the partial suspension allowance.

Federally Chartered Credit Union Update for Excess Compensation Tax

Until further guidance is released, federal instrumentalities aren’t subject to IRC Section 4960 excise tax as an ATEO.

An Inflation Reduction Act Overview for Tax-Exempt Organizations, Governments

Learn about Inflation Reduction Act opportunities ranging from payment in lieu of tax credits, credits, and funding.

College Athletic Coach Compensations Come Under Scrutiny

Athletics coaches making over $1 million per year has brought several colleges under question by Congress subcommittee.

How Not-for-Profits Can Navigate Backlog at the IRS

Not-for-Profits (NFPs) can take certain measures to facilitate getting through to a backlogged IRS.

Not-for-Profits Must File Form 1024 Electronically for Tax-Exemption Status

Some organizations pursuing tax-exempt status will now need to file Form 1024 online with accompanying application fees.

Funding Allocated for the Energy Efficiency Materials Pilot Program

Not-for-profit organizations can apply for grants to make buildings use less fuel.

IRS Issues Guidance for Limited Liability Companies to Qualify as Tax-Exempt

The IRS issued standards limited liability companies must meet to be recognized as 501(c)(3). Learn details.

How Do Alternative Investments Affect Private Foundations?

Private foundation leaders should know about the tax, fiduciary, and regulatory implications of alternative investments.

IRS Extends Employer-Sponsored, Leave-Based Donation Programs through 2021

Read our Alert for more details about the guidance and its effect on employers and employees.

Bill Proposes Changes to Donor-Advised Funds and Distributions

The Accelerating Charitable Efforts Act would revise rules for donor-advised funds (DAFs). Learn potential impacts.

ARPA Extends Relief to Not-for-Profit, Tribal, and Government Entities

ARPA extends unemployment relief to not-for-profit, state and local government, and federally recognized Tribal entities.

How a Private Foundation Can Avoid Taxable Expenditures

Learn what activities result in a taxable expenditure and detailed breakdowns of the guidelines for each activity.

PPP Loans for Large Not-for-Profits: Expanded Eligibility, Deadlines, and More

Apply before March 31 to benefit from the expanded Paycheck Protection Program (PPP), which makes $7.25 billion available.

Shuttered Venue Operators Grant Program FAQs and Qualifications

Get answers to frequently asked questions about the Shuttered Venue Operators Grant, including entity qualifications.

Final Regulations on Excess Compensation for Tax-Exempt Organizations

The IRS issued final regulations governing excise tax levied against certain tax-exempt organizations that pay remuneration.

Not-for-Profit Entities Could Benefit from Latest COVID-19 Stimulus Package

The latest COVID-19-related federal stimulus package contained several provisions to benefit not-for-profits. Learn more.

IRS Regulations on Unrelated Business Taxable Income Siloing

Final regulations were issued to solidify how to classify separate unrelated trades or businesses.

IRS Releases Form 1098-T Guidance for Reporting Emergency Financial Aid Grants

The IRS released new guidance for higher education institutes for reporting emergency financial aid grants. Learn details.

IRS Issues Final Regulations: Net Investment Income Tax for Private Higher Education

Learn about key changes to the 1.4% excise tax some institutions must pay on their net investment income.

IRS Proposes Changes to Group Exemption Letter Program

Recently proposed changes would impact an organization’s ability to receive Section 501(c) tax-exempt status. Learn more.

IRS Issues Proposed Excess Compensation Regulations for Tax-Exempt Organizations

The IRS proposed regulations intended to address concerns regarding the excise tax in Internal Revenue Code (IRC) Section 4960. Learn more details.

IRS Issues Guidance for NOL Carrybacks by Tax-Exempt Organizations

Not-for-profits can now carry back siloed net operating losses (NOLs) to offset unrelated business taxable income (UBTI).

IRS No Longer Requires Some Not-for-Profits to Identify Donors on Forms

New IRS regulations don’t require select tax-exempt organizations to identify donor names and addresses on certain forms.

Updates on COVID-19 Relief for Colleges, Universities, and Students

Guidance was issued for PPP loans and emergency financial aid grants. Learn the implications for higher education.

The TCDTRA and SECURE Act: Impacts for Exempt Organizations

Find out how the Taxpayer Certainty and Disaster Tax Relief Act and SECURE Act impact the tax burden for tax-exempt organizations in 2020 and beyond.

IRS Issues Proposed Regulations for Unrelated Business Income Tax Calculation

The IRS proposed changes that would allow some organizations to treat investment activities as unrelated trade or business.

Employers Might Be Able to Deliver Tax-Free Disaster Relief Payments to Employees

Learn how employers might be able to provide tax-free financial assistance to their employees.

IRS Legislation Provides UBIT Refund to Tax-Exempt Organizations

Your tax-exempt organization may qualify for an unrelated business income tax (UBIT) refund under the IRS’s Taxpayer Certainty and Disaster Tax Relief Act of 2019.

Tax on Certain Fringe Benefits Repealed and Single Excise Tax Rate Set

Learn if any of your organization’s paid unrelated business income tax could qualify for a refund and when the new tax rate goes into effect.

Retain Your Organization’s Public Charity Status Using the 10%-Facts-and-Circumstances Test

We look at how not-for-profits can retain their public charity status using Form 990’s 10%-facts-and-circumstances test.