Exempt Organization Tax

Law Requires DC Employers with 20 or more Employees to Provide a Transit Benefit Beginning January 1, 2016

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As many of you know, a new D.C. law requires D.C. Employers with 20 or more employees to provide a transit benefit beginning January 1, 2016.
A provision of a 2014 D.C. law requiring all D.C. employers (including nonprofits) with 20 or more employees to provide a transit benefit to employees goes into effect on January […]

Expansion of Exempt Organization e-Filing?

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Is mandatory Form 990 e-filing in your organization’s future? The IRS Advisory Committee on Tax Exempt and Government Entities (ACT) is recommending just that, in its recently-released annual report. The ACT’s report lists several advantages of all-electronic filing for Forms 990 and 990-EZ. Among them […]

Purpose of the FinCEN Form 114, Report of Foreign Bank and Financial Accounts

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FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR), is used to report financial interest in or signature authority over foreign financial accounts and replaces the obsolete Form TD F 90-22.1. Form 114 must be e-filed with the Treasury Department via its BSA E-Filing System. It is an information return only, meaning it […]

Personal Information – It Doesn’t Belong in Your 990

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With identity theft an ever-growing threat, it’s never been more important for exempt organizations to make sure their filings contain no personal or private information that might expose to fraud or harm, any individual or entity connected with the organization.  The IRS Tax Exempt and Government Entities Group (TE/GE) reportedly has become increasingly concerned with […]

What’s Up with the NFL?

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The tax-exempt status of the National Football League (NFL) has been the subject of much debate in recent years, particularly amid criticism over the billions in revenue generated by the organization and its highly compensated CEO, Roger Goodell.  As an avid sports fan, I was naturally intrigued by the NFL’s recent announcement that it would […]

Is Your Organization Dissolving or Merging? Here’s What You Need to Know About Your Final Form 990

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While it doesn’t happen very often, exempt organizations do go out of existence. Some entities fulfill their mission and decide to dissolve. Others find it beneficial, for financial or programmatic reasons, to merge into another organization with a similar purpose. In either case, there are specific requirements that need to be followed in terminating or […]

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