Substantiation Rules - Nonprofit CPA Firm

Substantiation Rules Are Not Meant to be Broken

The holiday season has passed and it is now tax-filing season. During this time, charitable organizations need to make sure that they are doing everything in their power to assist their donors in following the IRS donation “substantiation rules.”

Rental Income – Taxable to my Nonprofit or Not?

One of the most common sources of UBI is rental income; however, not all rental income is subject to unrelated business income tax (UBIT). So how is a nonprofit to know if the rental income they receive is subject to UBIT?

Nonprofit CPA Firm

Did you download the instructions for Form 1023-EZ before August 4, 2014?

If you downloaded the Instructions for Form 1023-EZ before August 4, 2014, please take note of the following change:

The IRS has updated the instructions for Part 1, line 8 to allow officers, directors, and/or trustees to use the organization’s mailing address rather than their personal mailing address.

Applying for Tax Exemption Just Got “EZ”er

Last summer I wrote a blog entitled “IRS Determination – Why the Wait” that described the IRS’s process for evaluating application forms of organizations applying for tax exempt status under Section 501 (c)(3).

Form 990 Changes - Nonprofit CPA Firm

990 Changes – Better Read Each One

In its latest “Exempt Organizations Update,” the Internal Revenue Service (IRS) listed significant changes to forms and instructions for the Form 990 series.