COVID-19 Relief: Form 990 Series Extension

Posted By Casey Hagy, CPA Last month the IRS extended the traditional tax filing deadline for certain taxpayers from April 15, 2020, to July 15, 2020. On April 9, 2020, the IRS issued Notice 2020-23 which extends this relief to generally all taxpayers (individuals and businesses) that have a filing or payment deadline falling on or after April 1, 2020, … Continued

COVID-19 Relief: Single Audit Extension

Posted By Casey A. Hagy, CPA On March 19, 2020, the U.S. Office of Management and Budget (OMB) released memorandum M-20-17, Administrative Relief for Recipients and Applicants of Federal Financial Assistance Directly Impacted by the Novel Coronavirus (COVID-19) due to Loss of Operations. The memo provides for a 6-month single audit extension beyond the normal due date. As a reminder, the … Continued

Gifts from Donor-Advised Funds

Contributions are a large source of revenue for many nonprofits. When your nonprofit organization receives a charitable contribution, we know you want to thank the donor as soon as possible and send them an acknowledgment letter. Before you mail out that letter, consider the following facts about gifts from donor-advised funds.