Exempt Organization Tax

IRS Issues Guidance on Meals and Entertainment Deductions Under Tax Reform

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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.

2018 Will See A Change in Form 990 Donor Disclosure Requirements

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IRS will no longer require donor reporting for non-501(c)(3) exempt organizations.
 
Beginning next year, non-501(c)(3)’s will no longer be required to disclose donor names and addresses on the Form 990 Schedule B. This change, recently announced by the IRS in Rev. Proc. 2018-38, will be effective for Forms 990 […]

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