Nonprofit Resources
IRS Provides an Update on Employee Retention Credit Claim Processing
June 21, 2024 - The IRS has provided an update on Employee Retention Credit (ERC) claim processing, including whether it will lift the processing moratorium in place since last September. Here are the key takeaways.
Webcast for Nonprofits: Clean Energy Credits for Nonprofit Organizations
May 2, 2024 - The Inflation Reduction Act of 2021 created a pathway for nonprofits to claim tax credits that can be used to recoup costs for certain capital projects or investments in clean energy production. This recorded webcast provides an introduction to these credits and a roadmap to help you think through the potential benefits of pursuing them.
New Department of Labor Overtime Rule for Exempt Employees Finalized
April 26, 2024 - A new Department of Labor rule that increases the salary thresholds required to exempt a bona fide executive, administrative, or professional employee from federal overtime pay requirements has been finalized. The first salary threshold increase will go into effect on July 1, 2024.
IRS Delays Requirement to File Form 1042 Electronically
February 29, 2024 - The IRS has delayed the requirement that IRS Form 1042, Annual Withholding Tax Return for U.S. Source Income of Foreign Persons, be filed electronically in calendar year 2024.
Webcast for Nonprofits: Employee Retention Credit Updates for 2024
February 15, 2025 - Watch this recorded webcast to learn about recent Employee Retention Credit (ERC) changes and what they may mean for your organization. We'll also provide organizations with a framework for determining eligibility for the ERC should they wish to pursue it before the first deadline of April 15, 2024.
Key Federal Tax Figures for 2024
February 1, 2024 - Our 2024 Key Federal Tax Figures summary is designed to be a helpful reference tool throughout the year. Download or print your free copy.
Important Upcoming Employee Retention Credit Due Dates
January 30, 2024 - Upcoming ERC deadlines to be aware of and plan for, including the ERC Voluntary Disclosure Program application deadline on March 22.
E-file for Forms 990-T and 1120-POL Unavailable Until March 17, 2024
January 24, 2024 - This applies to all Forms 990-T, including those with due dates between January 15, 2024, and March 15, 2024. As a reminder, Form 990-T must be filed electronically.
Proposed Legislation May End Employee Retention Credit on January 31, 2024
January 22, 2024 - The House Ways and Means Committee voted to approve legislation that, if passed by Congress and signed by the President, could have significant implications for the future of the Employee Retention Credit (ERC).
IRS Launches New Employee Retention Credit Voluntary Disclosure Program
January 3, 2024 - The IRS has announced a voluntary disclosure program for organizations that want to pay back the funds they received after filing Employee Retention Credit claims in error, thereby avoiding potential interest, penalties, and litigation. Organizations accepted into the program will be required to repay 80% of the funds received.