Nonprofit Resources
Extended Payment Period for Deferred Payroll Taxes
January 21, 2021 - Employers who deferred the withholding and payment of employees’ portion of Social Security tax can withhold and ratably pay the deferred taxes through the end of 2021.
Recap of New PPP Guidance and Applications
January 20, 2021- Since the Consolidated Appropriations Act of 2021 was signed into law, the SBA and U.S. Treasury have released a number of guidelines, documents, and updated applications. We’ve compiled them here.
DOL Issues Opinion on FLSA Exempt Status and Ministerial Exception
January 15, 2021 - A new Department of Labor Opinion Letter discusses the general contours of the ministerial exception to the application of the minimum wage and overtime rules in the Fair Labor Standards Act (FLSA).
Higher Ed Reminder – HEERF Information Due December 16
December 15, 2020 - Info on your Higher Education Emergency Relief Fund (HEERF) performance report submitter and editor is due tomorrow. Here’s what to provide, and how to provide it.
SBA Releases New FAQ on PPP Loan Necessity Questionnaire
December 14, 2020 - PPP Loan FAQ 53 addresses the PPP Loan Necessity Questionnaire issued to recipients of PPP loans of $2 million or more. Here are the key takeaways.
IRS Provides Guidance on Reporting Deferred Employee Payroll Tax
November 12, 2020 - If your organization deferred the collection and remittance of the employee portion of Social Security tax, here's how to report it on Form W-2.
Reminder: “Above-the-line” Charitable Contribution Deduction Available
November 5, 2020 - Now is a good time to remind your donors that they could receive a $300 charitable contribution deduction this year.
New SBA PPP Loan Necessity Questionnaire for Borrowers with Loans of $2M or More
October 30, 2020 - The questionnaire asks for a wide variety of information, and organizations that receive it have 10 business days to respond.
PPP Loan Forgiveness Application and Payment Updates
October 9, 2020 - Treasury and the SBA have released a simplified application for forgiveness of PPP loans of $50,000 or less and provided new guidance on the deferral period for PPP loan payments.
IRS Issues Guidance on Payroll Tax Deferral Starting September 1
August 31, 2020 - The IRS has provided guidance on the deferral of the withholding and payment of the employee’s portion of Social Security tax, which is effective for the period September 1 through December 31, 2020. Here’s what we know — and what we don’t know.