Nonprofit Resources
Nonprofit Issues Newsletter, February 2025
February 26, 2025 - Learn about the Uniform Guidance revisions and how they may affect your organization, answers to common questions about managing employee time, what to consider before accepting a real estate contribution, and more.
Webcast for Nonprofits: 2024 Nonprofit Tax Year-End Review
December 12, 2024 - Watch this free recorded webcast for a look at the most important changes taking place in exempt organization tax. You'll learn about areas that are changing and areas that remain unchanged — all with an eye toward what 2025 will bring.
IRS Reopens Employee Retention Credit Voluntary Disclosure Program
August 16, 2024 - The IRS has reopened its Employee Retention Credit (ERC) Voluntary Disclosure Program to allow organizations with erroneous ERC claims to repay the funds at a 15% discount and avoid future audits, penalties, and interest. Applications are due by November 22, 2024.
IRS Issues ERC Disallowance Letters and Releases More Warning Signs
August 8, 2024 - The IRS has begun sending letters to organizations denying their Employee Retention Credit claims. These letters typically require some form of response within 30 days of issuance. The IRS also released five new warning signs of incorrect ERC claims.
Webcast for Nonprofits: Clean Energy Projects that Qualify for the Clean Energy Credits
August 20, 2024 - As organizations plan for future capital projects, savings from incorporating clean energy will become increasingly important. This session examines the key types of clean energy projects that qualify for the Inflation Reduction Act’s Clean Energy Credits.
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, 2024 - Watch this recorded webcast to learn about recent Employee Retention Credit (ERC) changes and what they may mean for your organization. You'll gain a framework for determining eligibility for the ERC should they wish to pursue it before the first deadline of April 15, 2024.