Nonprofit Issues Newsletter, October 2023
Employee Retention Credit Updates and Considerations
The Employee Retention Credit (ERC) continues to be a significant potential benefit for qualifying organizations that properly determine their eligibility and maintain the critical supporting documentation.
If your organization is considering applying for the ERC or you have already filed a claim and are questioning in hindsight if you are eligible, here are updates and insights to help you through the next steps.
Cybersecurity Awareness Month 2023: Tips to Help Reduce Your Risk
It’s Cybersecurity Awareness Month! Throughout October, we’ve been using social media to share resources and tips focused on four key areas: enabling multi-factor authentication, using strong passwords, updating software, and recognizing and reporting phishing.
Learn more with these helpful resources and tips.
IRS Drastically Expands Electronic Filing Requirement for 2023 Tax and Information Returns
The IRS has significantly expanded the mandatory electronic filing of tax and information returns. Almost all returns filed on or after January 1, 2024, are now required to be submitted to the IRS electronically instead of on paper.
Affected organizations may need significant lead time to implement new software, policies, and procedures to comply with the updated rules, so it’s important to evaluate what changes may be needed. This article provides key details.
Data Quality for Nonprofits
Data quality is a critical factor for organizations of all sizes, and nonprofits are no exception. Poor data quality can distort decision-making, lead to missed opportunities, lower fundraising outcomes, and even cause compliance issues.
Learn about common data quality challenges, key considerations, and questions to ask here.
Join Us at the CapinCrouse 2023 National Church Virtual Seminar
Today’s church leaders must navigate current opportunities and challenges while simultaneously strategizing for future growth and long-term success.
Please join us at the CapinCrouse 2023 National Church Virtual Seminar on Wednesday, November 8 and Thursday, November 9 to gain valuable insights and practical strategies to empower your church. Learn more and register.
In-Depth Nonprofit Expertise and Services
Based on INSIDE Public Accounting (IPA) data for 2023, CapinCrouse is the largest accounting firm in the country serving only nonprofit organizations. We are also honored to have been named an IPA Best of the Best Firm for 2023. The top accounting firms were ranked on more than 50 metrics and selected exclusively for their performance in specific key areas of management, growth, and strategic vision.
Because CapinCrouse has focused exclusively on serving nonprofits for over 50 years, we can provide you with in-depth knowledge and insight through a comprehensive range of audit, tax, consulting, and cybersecurity services. Our services are specifically tailored to the complex challenges and unique needs of all types of nonprofit entities, including churches and denominations, higher education institutions, international outreach organizations, and more. Please do not hesitate to contact us to discuss how we can help support and empower your organization.
Updated Key Federal Tax Figures Table Now Available
We’ve updated our 2023 Key Federal Tax Figures table to reflect the IRS high/low substitute per diem system rates effective October 1, 2023. You can download or print your free copy here.
Free Upcoming Webcasts
We’re offering free webcasts on a variety of topics in the coming months. Please join us!
- CapinTech Cyber Series: 2023 Cybersecurity Year-End Review – We’ll focus on lessons learned from recent high-profile breaches and discuss what has changed, what hasn’t changed, and what to watch for in 2024. Wednesday, November 29 at 1 p.m. EST.
- Student Financial Aid Q&A Series: Transitions in Financial Aid Processing, Part 2 – Have your questions answered live by our CapinCrouse team of professionals and brainstorm ways to meet the compliance requirements that changed with the Free Application for Federal Student Aid simplification. Thursday, November 30 at 1 p.m. EST.
- 2023 Nonprofit Tax Year-End Review – Join us for a summary of the most important changes taking place in exempt organization tax. Thursday, December 14 at 1 p.m. EST. Details and registration available soon.