Tax Exemption - The IRS, Nonprofit Organizations, and State Government Oversight
State governments are throwing their weight around, concerned that the IRS’ streamlined tax exemption application process and limited auditing of nonprofits may not provide sufficient oversight of the nonprofit groups.
Don’t Be Responsible!: Friends Don’t Let Volunteers Talk to the IRS
According to Nonprofit Source, approximately 63 million Americans, or 25% of the adult population volunteer. Most want to make a difference for their community in some way. Few volunteered, I’m guessing, to fill-out IRS tax forms or state charity registration documents.
Changing Your Fiscal Year
For a variety of reasons, nonprofit organizations occasionally change their fiscal year. The timing of the change, and providing notice to the IRS of the change, is important. In this post, we will walk you through what a fiscal year is and how you can go about changing your fiscal year.
Building a Better Boy Scout
While most local Boy Scout Troops follow the BSA’s advice, some Troops have decided to become nonprofit corporations and obtain IRS 501(c)(3) tax exempt status. By incorporating the troop, a legal shield of firewall is built around the Troop leaders, providing protection for the leaders and their personal assets.
Protecting Nonprofits from the "Dirty Dozen"
With COVID-19, the IRS informed the public about this year’s “Dirty Dozen.” This is a list of the exploitative scams associated with coronavirus tax relief, including Economic Impact Payments. Several of these scams are targeted at tax preparation and refunds.
New Rules for IRS Group Exemption Holders
On June 12, 2020, the Internal Revenue Service (IRS) issued proposed new rules for its group exemption program. The group exemption program allows large organizations (known as “central organizations” by the IRS) to apply for and obtain an IRS group exemption letter.
Three Questions before any ASK©
Before you make your best ASK there are three very important questions you need ASK yourself. Think of this exercise as goal setting which many of us do at work and at home. If you never set a goal you never achieve that goal. If you never ASK you never get what you want.
Ten Years Later: Autorevocation, the IRS, and Exempt Organizations
It’s been ten years since the Pension Protection Act of 2006 was passed requiring all nonprofit organizations, regardless of size, to annually file an IRS Form 990-series tax return or have their tax-exempt status automatically revoked by the IRS. I took a look back at what has happened since.
Did the Trump and Clinton Foundations Break the Law?
Now that the presidential campaign is over, I decided to take a look at the claims against both the Trump and Clinton Foundations. I wanted to see if all the chatter was politics as usual, or if the candidates were breaking IRS rules. Here’s what I found.
More to Worry About than Beer Pong
The depiction of Greek life as a never-ending series of toga parties, excessive drinking and sex, was clearly over-the-top in National Lampoon’s 1978 comedy Animal House. Far more common than the headline-making incidents of beer pong gone awry is the reality that many local sororities and fraternities are running without a toga, or any cover at all.
Please start another nonprofit: A counter perspective with Sandy Pfau Englund
A successful attorney and founder of her own nonprofit, Parent Booster USA, Sandy walks us through nonprofit start up success stories, advice to maintain exemption and good standing with the IRS and handling underdeveloped business plans.
Preaching Politics: 5 Fast Facts about how the Johnson Amendment affects your 501(c)(3) organization
President Trump stated in his address at the National Prayer Breakfast in January 2017 that he intended to “get rid of and totally destroy the Johnson Amendment and allow our representatives of faith to speak freely and without fear of retribution.” Here’s five (5) fast facts about the Johnson Amendment and what 501(c)(3) tax-exempt organizations, including tax-exempt churches, may and may not do under current law.
Many nonprofit groups are suffering from a new disease I term RMRD (Record & Memory Retention Disorder). If not caught and stopped in its tracks, RMRD can be fatal, resulting in total loss of an organization’s IRS tax-exempt status. What’s causing the rise of this disease and how can we stop it?