Nonprofit Resources
The Fiscal Responsibility Act and the Employee Retention Credit
June 14, 2023 - The Fiscal Responsibility Act of 2023 includes provisions to rescind unobligated funds related to COVID-19 relief. This has led to questions about whether the Employee Retention Credit is affected by the new law.
Indiana Enacts Updated Sales Tax Rules Exempting Churches and Some Nonprofits
May 16, 2023 - Under Indiana’s new sales tax rules, which go into effect on July 1, 2023, churches and some nonprofit organizations will be exempt from collecting sales tax on all sales of tangible personal property.
Nonprofit Issues Newsletter, April 2023
April 27, 2023 - Managing uncertainty, preventing Title IV compliance findings, recent FBAR developments, and other updates and insights for nonprofits, higher education institutions, and churches.
Recent FBAR Cases Provide Important Takeaways for Taxpayers
April 27, 2023 - Two recent court cases related to FinCEN Form 114, Report of Foreign Bank & Financial Accounts (FBAR), highlight several key issues that are important for taxpayers with non-U.S. financial accounts. This article provides key takeaways.
IRS Provides Clarification on the Qualified Appraisal Requirement for Cryptocurrency Contributions
February 27, 2023 - Although cryptocurrency may be traded on an exchange with readily available market quotations, the IRS’s position is that cryptocurrency is not a security and gifts of cryptocurrency must be substantiated by a qualified appraisal.
Key Federal Tax Figures for 2023
January 18, 2023 - Our 2023 Key Federal Tax Figures summary is designed to be a helpful reference tool throughout the year. Download or print your free copy.
Webcast for Nonprofits: 2022 Nonprofit Tax Year-End Review
December 15, 2022 - Watch this recorded webcast for a summary of the most important changes taking place in exempt organization tax. We focus on areas that are changing and areas that remain unchanged — all with an eye toward what 2023 will bring.
New Report Cites Continued Pandemic Relief Refund Delays at the IRS
September 20, 2022 - A recent report found that due to continued processing delays at the IRS, many entities have not yet received pandemic relief benefits, including those related to the Employee Retention Credit (ERC) and Sick and Family Leave Credits.
IRS to Provide Automatic Penalty Relief for Certain 2019 and 2020 Returns
September 8, 2022 - The IRS announced that it will provide automatic penalty relief for certain 2019 and 2020 returns filed no later than September 30, 2022.
Nonprofit Issues Newsletter, August 2022
August 25, 2022 - Topics include effective goals for nonprofit boards, data on the impact of inflation, lessons learned from data breaches, and more.
