While tax-exempt not-for-profit organizations don’t typically have federal tax liability, most are still responsible for filing an annual information return with the IRS. The IRS Forms 990-EZ, and 990 are public documents that include information about the organization’s mission, programs… Read More
The House and Senate have voted and passed tax reform legislation, and President Trump has signed into law. Now that tax reform is definite, we have highlighted some of the major provisions impacting businesses. Read the individual tax provisions.
Revised… Read More
Not-for-profit organizations love cash contributions, but donors may also want to contribute a variety of noncash items including food, clothing, supplies, long-lived assets and items used for fund-raising purposes, services, utilities or the use facilities and much more. How does… Read More
With most of the press on tax reform focusing on businesses and individuals, it’s easy to assume that tax-exempt organizations are not affected by it. This is not the case, and there are several provisions that affect not-for-profit organizations. Below… Read More
To qualify as a not-for-profit, tax-exempt hospital, there are a number of requirements that must be followed under IRS section 501(c)(3). The Affordable Care Act added even more requirements through section 501(r), stating that hospitals must be able to show… Read More