The IRS recently issued final regulations related to the requirement to calculate and report unrelated business income (UBI) by category of activity, as required under Section 512(a)(6) of the Internal [...]
Some nonprofits are getting a welcome reprieve in deadline extensions for their Form 990 and federal single audit reports. IRS Form 990 and Similar Forms The Internal Revenue Service (IRS) [...]
In what’s being called ‘Phase III’ of a stimulus plan that’s continually evolving in the fight against COVID-19, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was ratified on [...]
Of the many provisions outlined in the original language of the Tax Cuts and Jobs Act (TCJA), few raised significant resistance like the new tax on qualified transportation fringe (QTF) [...]
The Taxpayer First Act (HB 3151) cleared the way for reforms aimed at improving the tax return process for taxpayers. However, it also introduces some new protections and requirements for [...]
If your organization has revenues and losses from unrelated business income (UBI), your tax picture could change drastically under the new tax laws. Starting with tax years beginning after Dec. 31, [...]