Reporting Requirements for Small Charities May Be Simpler
January 13, 2011 – The Internal Revenue Service today announced that small tax-exempt organizations may be able to shift to the simpler Form 990-N (e-Postcard) for their 2010 annual information...
View ArticleDocuments that require ready access
If someone came to your office and asked to see documentation about your organization’s nonprofit status, could you produce the correct forms? According to the IRS, you are obligated to produce copies...
View ArticleGood news – Schedule K-1 is optional for tax year 2011
When it comes to tax prep, easier is always welcome. On March 22nd, the IRS retracted the requirement for nonprofit organizations filing Form 990 and 990-EZ to use a Schedule K-1 for reporting...
View Article3 rules regarding nondiscrimination statements for private schools
A recent question was sent to our firm’s faithful steward blog: Is it ok for private schools to post a nondiscrimination statement on a Web site instead of using a local newspaper or broadcast...
View ArticleForm 990 – it pays to be on time
Your organization has almost a year after the end of the tax year to file the Form 990, when you consider the allowable two extensions. But if you have gross receipts of more than $1,000,000 and you...
View Article8 policies and procedures needed by nonprofit organizations
Form 990 has a section that asks questions about your organization’s policies and procedures. Having the needed policies in place is another way to prove good governance. Here’s the list for you to...
View ArticleChanges in Form 990 for Tax Year 2012
Changes to Form 990 instructions and schedules clarify and modify how organizations report information and income. You can see the full list of changes on the IRS Web site. But here are a few of the...
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