Stay in the Know: Tax Exempt Organization Update
As many not-for-profit organizations plan for a successful 2019, it’s important to stay abreast of changing regulations and trends in the industry. The following
Finding the Best Talent for Your Not-for-Profit in a Tight Labor Market
Hiring the right people is a crucial step for any organization. Even more so in the not-for-profit sector where budgets and resources often run
What Board Members Need to Know About Changes to Financial Statements
Jennifer Casacchia's article was originally published on the ASAE website here. This article was republished with permission. Copyright, ASAE: The Center for Association Leadership (November
Form 990-T Update
Draft of 2018 Form 990-T Released The IRS released a draft of the 2018 Form 990-T, Exempt Organization Business Income Tax Return, on the treatment of Unrelated
Not-for-Profits: Identifying Conditions in Contributions
On June 21, 2018, the Financial Accounting Standards Board (FASB) issued ASU 2018-08, Clarifying the Scope and Accounting Guidance for Contributions Received and Made. The
Sikich Series on Tax Reform: IRS Issues Guidance on New UBIT Rules for Exempt Organizations
The Internal Revenue Service (IRS) recently released Notice 2018-67 (Notice) providing guidance for tax-exempt organizations on the treatment of Unrelated Business Income Tax (UBIT).
Mark Miller Featured in Kiplinger
Mark Miller, CPA, was featured in a Kiplinger article about charitable giving strategies. Mark is a partner of the firm and specializes in tax planning
IRS Updates Draft of 2018 Form 990
The passing of the Tax Cuts and Jobs Act (the Act) has incited the addition of two questions to the IRS’s draft of the 2018
Sikich Series on Tax Reform: IRS Releases Guidance for Tax-Exempt Organizations on New UBIT Rules for Separate Trades or Businesses
The focus on last year’s “Tax Cut and Jobs Act” (“TCJA”) was on business tax matters. There were, however, also several significant changes impacting
Potential Relief for Not-for-Profit Organizations Expected to Pay Taxes on Transportation Fringe Benefits/Parking
Effective since January 1, 2018 and under guidance of the Tax Cuts and Jobs Act of 2017, tax-exempt organizations will pay an Unrelated Business Income
FASB Proposes Accounting Standard Update
Proposed Standard Addresses Diversity in Accounting Practice that Exists Between the Application of the Definition of Collections On June 26, 2018, the Financial Accounting Standards
What Donors & Charities Need to Know About the 2017 Tax Reform Act
Download our guide on what donors and charities need to know about the 2017 Tax Reform Act and the tips they need to navigate the
IRS Takes Closer Look at Exempt Organizations Employment Tax Compliance
The IRS is adding new areas of focus for employment tax examinations and tax-exempt organizations are being closely considered. The IRS Tax Exempt and Government
Jennifer Casacchia, CPA, Selected for AICPA Not-for-Profit Section Advisory Council
Jennifer Casacchia, CPA, is one of five individuals recently selected to the American Institute of Certified Public Accountants’ (AICPA) Not-for-Profit Section Advisory Council. By earning
Sikich Series on Tax Reform: Tax Planning Strategies for Charities & Donors
The historic tax reform act signed by President Trump on December 22, 2017 impacts charities and their donors alike. These new rules will require more
Not-for-Profits and Restricted Assets: What You Need to Know
Not-for-profit organizations are required to follow specific guidelines when it comes to accounting and financial reporting—particularly when involving restricted assets. Jennifer Casacchia, an audit expert
Filing EO Applications? Expect These Changes in Early 2018
If you’re filing EO applications next year, you may see some additional questions and boxes on your forms. Soon, the IRS will revise Form 1023,
Sikich Series on Tax Reform – How the Tax Reform Affects the Not-for-Profit Sector
Since the release of the H.R. 1, “the Tax Cuts and Jobs Act” (the Bill), not-for-profit organizations have been looking for the silver lining and
Not-for-Profit Tax Update
In this NFP Tax Update, we’d like to remind clients of three notable updates for organizations filing for tax year 2016, and beyond. Summary of
