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Though Form 990 and its required schedules have generally remained the same this tax year, a few changes to the forms and their instructions do warrant attention by not-for-profit organizations that file them. We highlight the differences in this Insight.
You may think that because your organization doesn’t pay income tax, you don’t need to pay close attention to the new tangible property regulations. But the truth is, you do. We cover what tax-exempt organizations need to know to comply in this Insight.
Crowdfunding has become ubiquitous in recent years, and for not-for-profits, it can be a gold mine. Still, depending on what you offer your backers as an incentive, you’ll need to pay close attention to whether Washington State B&O or sales tax apply.
When a private foundation and its disqualified persons—those closely associated with it—own too much in the same corporation, partnership, or trust, it risks having excess business holdings, which can result in a hefty excise tax.
2015 Q2 - Get ahead of current tax updates with this review of five issues affecting technology, clean technology, life sciences, and communications and media companies.
Banks need to assess five risks as 2020 nears and bank directors look for ways to innovate with increasing consumer demands and competition. The risks are data security, regulatory risk, staffing, profitability, and bank survival.
Donee organizations must provide written acknowledgment of contributions of more than $250 for their donors to claim the corresponding charitable donation deduction. Proposed regulations may formalize the process through a new filing.
What do you pay a not-for-profit’s executives? Attracting and retaining talent is vital, but you can’t risk tarnishing your reputation with regulators, government funding sources, contributors, members, or the media. This Insight gives an overview.
Some out-of-state sellers with substantial economic presence in Alabama will be required to collect and remit tax on sales into the state. The standard applies to transactions occurring on or after January 1, 2016.
If you donate or receive noncash property, there are additional filing requirements by the IRS, specifically Forms 8283 and 8282. There are penalties if a form isn’t filed or is filed incorrectly.