Nonprofit Resources
Employee Retention Credit Overview
April 29, 2020 - Now that Paycheck Protection Program applications are in full swing, attention is turning to other benefits provided by the CARES Act. This includes a new benefit called the Employee Retention Credit (ERC).
Watch for These Errors When Filing for COVID-19-Related Employer Credits
April 23, 2020 - The IRS is warning employers to watch out for these common mistakes when filing Form 7200, Advance Payment of Employer Credits Due to COVID-19.
Substantial Presence Test Relief for Certain Eligible Non-Resident Aliens
April 22, 2020 - The IRS has granted relief from the “number of days requirement” applicable in the “substantial presence test” to certain non-resident alien individuals who will be in the U.S. in 2020 for more days than anticipated due to travel restrictions arising from the COVID-19 pandemic.
Preparing for Paycheck Protection Program Loan Forgiveness
April 22, 2020 - If your nonprofit applied for and received a loan through the Paycheck Protection Program (PPP), it’s important to take immediate steps to ensure the funds are correctly handled and tracked during the next eight weeks.
IRS Extends Filing Deadline for Form 990 and Other Tax Forms
April 10, 2020 - In recently released Notice 2020-23, the IRS has provided filing deadline relief for virtually all tax forms due between April 1, 2020 and July 15, 2020.
Follow Up to the April 1, 2020 CapinCrouse Webcast
April 2, 2020 - A look at some common questions that arose during our April 1, 2020 nonprofit tax webcast on COVID-19 legislation.
IRS Releases FAQs About Tax Filing and Payment Extensions
March 26, 2020 - The IRS has released answers to frequently asked questions about the July 15 extension of filing and payment deadlines due to the COVID-19 pandemic. Here are a few things to note.
Racial Nondiscrimination Certification for Tax-Exempt Schools
Every tax-exempt school must annually certify to the IRS that it does not discriminate on the basis of race. Here’s what you need to know.
Dual-Use Property Issues
A look at what dual-use facilities are, and some tax considerations.
Discrepancies Between ASU No. 2016-14 and Form 990
ASU No. 2016-14 contains changes to NFP financial reporting standards that generally do not correspond to the presentation in the current Form 990.