Blog, News, & Events

Posts Tagged IRS

New Options to Help Exempt Organizations File Accurate Information Returns

The IRS recently released an updated version of the Short Form Return of Organization Exempt From Income Tax (Form 990-EZ), (https://www.irs.gov/pub/irs-pdf/f990ez.pdf) containing options that will help required filers of this annual information return more easily navigate through the form and avoid the more common mistakes the IRS regularly sees from filers. According to the IRS, […]

Continue Reading →

Posted in: Bits & Pieces, News

Leave a Comment (0) →

Tax Implications of Crowdfunding

In an information letter published in July of 2016, the IRS explained its current position on the tax treatment of crowdfunding by looking to general principles of income inclusion. In the Letter the IRS explained that under Code Sec. 61(a), except as otherwise provided by law, gross income includes all income from whatever source it […]

Continue Reading →

Posted in: News

Leave a Comment (0) →

IRS To Redact Social Security Numbers from Exempt Organization Applications

It is never a good idea to put the personal social security number of an individual on any sort of document, unless it is specifically required by law. Even then, you should consider whether an organizational tax identification number can be substituted in its place. Such is the case when filing an application for exemption […]

Continue Reading →

Posted in: News

Leave a Comment (0) →

Change in Accounting Period

When an organization first incorporates to begin operations one of the things it must do is establish with the Internal Revenue Service (IRS) what the fiscal year of the corporation will be. For many organizations setting the fiscal year to coincide with the calendar year (e.g. January 1 through December 31) may be the appropriate […]

Continue Reading →

Posted in: News

Leave a Comment (0) →
Page 4 of 8 «...23456...»