Nonprofit Resources
Section 529 Accounts Are Now Available for Private School Tuition – Part One
Under the new tax law, amounts in a Section 529 College Savings Account may be used to pay up to $10,000 of the cost of primary and secondary private school tuition and related fees, books, supplies, and equipment.
IRS Extends Deadlines for Issuing Forms 1095-B and 1095-C
The IRS recently announced an extension for the due dates for furnishing Forms 1095-B, Health Coverage, and 1095-C, Employer-Provided Health Insurance Offer and Coverage, to individuals.
Tax Reform Summary: What Nonprofits Should Know
What to know about the final text of the Tax Cuts and Jobs Act (H.R. 1).
What to Know About Taxation of International Students Receiving Financial Aid
If your institution has international students who receive financial aid, there are specific income tax requirements you need to be aware of.
Four Questions to Ask About Executive Compensation at Your Organization
Nonprofit organizations need to attract and retain qualified leadership. But many nonprofit leaders are unaware of the intricacies of the IRS requirements for executive compensation — and of the significant penalties that can arise if the IRS deems compensation “excessive.”
Should Your Organization Accept that Gift?
We’ve all heard the adage “Never look a gift horse in the mouth,” but that is not sound advice for nonprofits. Some gifts may have implications or costs that could have negative consequences for your organization.
Generate Revenue Enhancement Opportunities for Your Organization
Many nonprofit organizations are considering alternative revenue sources as a way to bring in extra funding. As with most initiatives, the key is to plan diligently.
Report Gift Cards on Form W-2 for Employees
The IRS recently clarified the rules for reporting gift cards given to employees on Form W-2. Check out this example and an explanation of the rules.
Meet CapinCrouse Tax Counsel Ted Batson
Ted Batson joined CapinCrouse in May 2016 as tax counsel, a role that is vital in helping our nonprofit clients navigate a wide range of exempt-organization issues. We recently spoke to him about his expertise, how he is assisting clients, and what he’s looking forward to in his new role.
Foreign Operations Reporting
The IRS has an extensive reporting structure for foreign activities by U.S. individuals and corporations. Nonprofit corporations, religious workers, and churches are not exempt.