IRS issues interim guidance on the executive compensation excise tax required under the new tax law. Tax-exempt organizations that pay their top people over $1 million, or that provide generous severance packages are affected.
During the 2019 calendar year, the DC Office of Tax and Revenue (OTR) will begin to expire tax exemptions granted under DC law and will require all exempt entities to renew their exemptions or be reclassified as fully taxable.
Understanding the methods of how employee fraud is detected can help you in taking the necessary steps to minimize your risk and protect your organization. In this podcast, we discuss active and passive methods of detecting employee fraud as well as common behavioral red flags that organizations should be aware of.
This article provides an overview of the IRS’s recently issued guidance on the determination of the nondeductible portion of parking fringe expenses and unrelated business taxable income.
In this audio podcast, Tax Principal Debbie Kosnett and Senior Tax Manager Lisa Heller discuss what you need to know about the new unrelated business income silo rules.
How much revenue should go into reserves and when should it be used? Many association boards have grappled with this question and, ultimately, incorporated a key principle: A well-balanced reserve strategy includes elements of risk and opportunity.
Tate & Tryon is very pleased to announce that Doug Boedeker has been named Practice Leader, Audit & Tax Services. Doug is a partner in the Firm’s Audit and Assurance Services practice with more than 20 years of experience providing an audit, tax, and consulting services to nonprofit organizations.
The IRS has issued guidance on the business expense deduction for meals and entertainment related to the tax law changes of the Tax Cuts and Jobs Act (the Act). For nonprofit organizations, this affects only taxable activities such as meal and entertainment expenses associated with unrelated business income activities, and similar expenses for subsidiary entities such as taxable corporations or passthrough entities such as partnerships.
For any nonprofit organization, ensuring the quality and completeness of the audit committee charter is key to effective board governance. Check out these 5 helpful tips for strengthening your audit committee charter that can help even a great audit committee to govern even better.
5 Suggestions to Perfect Your Audit Committee Charter
1. INCORPORATE ALL YOUR STATE […]
The IRS has issued long-awaited guidance regarding the calculation of unrelated business taxable income (“UBTI”) for exempt organizations under the new tax law. Although it is considered interim guidance, taxpayers may rely on the guidance given here until proposed regulations are issued.