posts tagged as IRS
By Barbara Finke | November 18, 2020
Is Your Organization Audit Ready?
Whether you are facing an audit for the first time or you have been audited for years, making sure that your nonprofit organization is ready can be overwhelming, especially given the challenges of COVID-19.
Tax News of Note for Nonprofits
It’s critical for nonprofits to stay abreast of proposed and updated regulations from the Internal Revenue Service (IRS). Read on to learn the latest developments organizations should know.
Special Alert: Congress Repeals Onerous “Parking Tax”
New federal funding legislation cleared Congress and the White House, repealing a provision from the 2017 Tax Cuts and Jobs Act commonly known to nonprofits as the “parking tax.” Is your tax-exempt organization entitled to a refund?
First-Time 401(K) Plan Audits: What to Expect
For restaurants starting a 401(k) plan to better attract and retain talent, one of the most significant mandates they should be familiar with is the audit requirement.
In the second installment of our Employee Benefits blog series, we...
A Primer on the New Excise Tax on Nonprofit Compensation
Tax reform introduced a significant tax on certain types of nonprofit compensation. Learn the details, including who owes the taxes, which employees are covered, and what board members and other stakeholders should do to minimize liability.
Minimizing Tax Liability without QIP Guidance
Lack of clarity around the tax treatment of Qualified Improvement Property (QIP) under the Tax Cuts and Jobs Act (TCJA) may result in higher than expected tax bills for restaurants that made renovations and improvements during 2018.
By Katherine Gauntt | January 17, 2019
Impact of the Wayfair Supreme Court Decision on Nonprofits
Do you know all the ways the Supreme Court’s decision in South Dakota v. Wayfair could impact your nonprofit organization? Whether or not your organization offers goods and services, all organizations could now face extra costs to comply...