IRS Form 990 & Nonprofit Tax Consulting
Your tax-exempt status means you can direct more of your money toward your mission. But it doesn’t mean that you’re free from tax concerns.
Consider your IRS Form 990. It’s more than just a tax record for the government; it paints a picture of your organization’s programs, expenditures and salaries, and it’s often your first impression for donors and grantors.
There are also complex guidelines surrounding lobbying, political donations, foreign dealings and other activities. You could accidentally jeopardize your tax-exempt status if you’re not aware of them.
And if you have a thrift shop, licensing agreements or other sources of revenue not associated with your mission, you might have unrelated business income tax (UBIT). With constant changes in nonprofit tax laws, these revenue sources need to be monitored throughout the year.
With experienced tax CPAs and a dedicated Nonprofit Services Team, James Moore has the expertise and resources you need to manage these obligations and maintain your tax-exempt status. We understand the laws that affect you, the IRS red flags and information on your Form 990 that donors like to see.
From tax-exempt law advisement and UBIT consulting to IRS Form 990/990-T completion services, we provide a complete array of nonprofit tax services to protect your organization and help it grow.
"The level of expertise they’ve demonstrated over the years has been exceptional. Not only do they handle our tax compliance concerns, they also train our key financial staff members to quickly identify additional UBIT sources that we might not find otherwise."
Final Regulations on Unrelated Business Income Basketing Rules
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…
Nonprofit Deadline Extensions for Form 990 and Federal Single Audits
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)…
Understanding the CARES Act: The Paycheck Protection Program
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…
Congress Repeals Parking Lot Tax for Nonprofits
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)…
Nonprofits and the Taxpayer First Act: What You Need to Know
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…
Unrelated Business Income Baskets: New IRS Regulations
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.…
Important Info for Nonprofits: QTF and the Tax Cuts and Jobs Act
Businesses and nonprofits should expect changes when it comes to parking benefits. The Tax Cuts and Jobs Act (TCJA) has amended Section 274 to limit or remove tax deductions for…
Be The First to Hear.
Sign up for our nonprofit tax newsletter and have it delivered to your inbox, so you don’t miss a thing.
Corinne Turcotte, CPA
While Corinne serves as a trusted advisor and accountant for a variety of organizations, her heart lies in serving the needs of nonprofit organizations to address taxation issues and provide audit and assurance services as well as CFO and controllership services. Her client list includes an extensive number of entities that receive substantial federal and state assistance. She is a trusted authority on OMB Super Circular and the Florida Single Audit Act and a certified member of the AICPA’s Not-For-Profit section, making her a valuable resource to the firm and our nonprofit clients on all of their reporting, tax and business needs. As a result of this experience, she serves as an integral member of the firm’s Nonprofit Services Team.
Corinne’s experience with nonprofits goes beyond the firm; she is actively involved with Catholic Charities and serves on the organization’s board. Her volunteer experience has given her a solid understanding of how nonprofits work and the challenges they face, from obtaining funding and operating with limited budgets to ensuring compliance and transparency. She uses both perspectives, as a participant and an accounting professional, to better serve her clients.