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Receipting Charitable Donations

In late January of this year the IRS announced that it was withdrawing proposed regulations released in September of 2015 that would have allowed charities to file information returns with the IRS and donors instead of providing contemporaneous written acknowledgments of charitable donations (REG-138344-13). Charities that elected to use the new procedure would have been […]

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Annual Electronic Filing Requirement for Small Exempt Organizations

Form 990-N (e-Postcard) (The filing process changes beginning February 29, 2016) Most small tax-exempt organizations whose annual gross receipts are normally $50,000 or less are required to electronically submit Form 990-N, Electronic Notice (e-Postcard) for Tax-Exempt Organizations and not required to either File Form 990 or Form 990EZ. Form 990-N must be completed and filed […]

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IRS Proposes Nonprofits Collect Social Security Numbers of their Donors

The IRS is proposing new requirements for nonprofits to collect the Social Security numbers of their donors. Currently, nonprofits send donors a form verifying their contributions, which they use for tax purposes. However, the IRS is proposing changes that would require these nonprofits to collect their donors’ SSN’s and to provide this information directly to […]

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