Author: Jeffrey Hermes
Publisher:
ISBN:
Category :
Languages : en
Pages : 31
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Book Description
Confusion about the IRS's processes and standards has led to criticism of the IRS as being arbitrary in its decision-making process and adverse to the journalism industry. But while there have been controversial decisions by the IRS in particular cases, it is critical to understand that the IRS's primary duty with respect to these applications is to protect the public fisc by ensuring that only organizations that meet criteria enacted by the United States Congress are granted a Section 501(c)(3) exemption. Although the IRS has some discretion in applying these criteria, it does not have the authority to recognize broad new categories of tax-exempt organizations, such as news outlets. Until and unless there is action in Congress to facilitate tax exemptions for journalism non-profits, news organizations seeking 501(c)(3) status must learn how to structure their operations to meet the existing standards applied by the IRS. To that end, this guide is intended to provide practical information regarding the standards that the IRS applies in determining whether to grant federal tax-exempt status to a non-profit organization under Section 501(c)(3).
Author: Jody Blazek
Publisher: John Wiley & Sons
ISBN: 1119352118
Category : Business & Economics
Languages : en
Pages : 224
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Book Description
The essential time-saving guide to the latest in nonprofit tax rules, regulations, and procedures Tax rules and regulations change annually, and nonprofit organizations know that staying compliant means staying up to date. But wading through tax code is less than helpful in the field, whereas the clear, practically oriented instruction inside provides the quick reference accountants, lawyers, and executives need. In the latest edition of Tax Planning and Compliance for Tax-Exempt Organizations, you'll find straightforward information on changing Unrelated Business Income (UBI) rules, joint ventures, sponsorships, deductions against UBI, preparation of IRS forms, and more. Nonprofit organizations—including health and welfare organizations, colleges and universities, private foundations, churches, libraries, museums, cultural institutions, and other smaller groups—contend daily with the possibility of losing their tax-exempt status. From qualifying and applying for that status, to maintaining and managing it, every nonprofit organization must plan and monitor ongoing procedures, activities, and forms to comply with federal, state, and local regulations. Access easy checklists for reporting, compliance, eligibility, and more Examine sample bylaws, applications, and forms Utilize comparison charts and other visual aids for easy reference Review bullet lists that compare what is and what is not acceptable Tax Planning and Compliance for Tax-Exempt Organizations is an indispensable guide to navigating the complex maze of nonprofit tax rules and regulations.
Author: Jody Blazek
Publisher: John Wiley & Sons
ISBN: 0470483628
Category : Business & Economics
Languages : en
Pages : 326
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Book Description
A line-by-line preparation guide to the completely new and revised Form 990 for nonprofit organizations The accurate and complete preparation of Form 990—the information return that must be filed annually by most types of tax-exempt organizations—is a key factor in maintaining public image and fundraising capabilities. The newly redesigned Form 990 was released in December 2008 with significant revisions to the initial June 2007 draft. Preparation of the new return will require tax-exempt organizations to gather extensive new information about their activities for disclosure on the new form beginning with their 2008 tax year. In Revised Form 990: A Line-by-Line Preparation Guide, authors Jody Blazek—who with other AICPA Task Force members was instrumental in effecting changes to the original IRS draft of the form—and Amanda Adams, provide step-by-step and line-by- ine analysis and preparation guidelines for nonprofit professionals and nonprofessionals alike charged with preparing and submitting the form. This hands-on workbook walks you through the process of producing an annual report to the IRS that demonstrates continued qualification for exempt status for a nonprofit organization, explaining the information requested page by page and part by part. It addresses the issues and challenges for each part, particularly the new schedules. As each part is explained, the authors suggest when certain answers have negative consequences. Guidance is provided for functional expense reporting and generally accepted accounting principles for reporting revenues. A good discussion of the differences between book and tax reporting and records needed to accurately display financials for tax purposes is included. The Form 990-PF and Form 990-T are also examined.
Author: United States. Internal Revenue Service
Publisher:
ISBN:
Category : Charitable uses, trusts, and foundations
Languages : en
Pages : 170
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Book Description
Author: Bruce R. Hopkins
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 412
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Book Description
Provides guidance regarding federal laws on income tax exemption for all tax-exempt organizations ranging from charitable and social welfare groups to private and advocacy associations. Zeroes in on all special problems faced by nonprofits and offers specific help in maintaining tax-exempt status. Details the critical information needed to make decisions concerning everything from charter and organization to revenue-producing activities and reporting income. Includes more than 7000 footnote references to regulations, rulings, cases and tax literature; an extensive index; Revenue Code sections as well as a list of IRS district offices.
Author: Stephen Fishman
Publisher: Nolo
ISBN: 1413331165
Category : Business & Economics
Languages : en
Pages : 360
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Book Description
The essential tax reference book for every nonprofit Nonprofits enjoy privileges not available to other organizations. But these privileges come with obligations: Nonprofits must comply with special IRS rules and regulations to maintain their tax-exempt status. Practical, comprehensive, and easy to understand, Every Nonprofit’s Tax Guide explains ongoing and annual IRS compliance requirements for nonprofits, including: • a detailed explanation of Form 990 • requirements for filing Form 990-EZ electronically • how to file Form 1099-NEC • conflicts of interest and compensation rules • charitable giving rules • unrelated taxable business income rules • lobbying and political activity restrictions, and • nonprofit bookkeeping. Whether you are just starting your nonprofit or are well established, you’ll find all the information you need to avoid the most common issues nonprofits run into with the IRS.
Author: United States. Congress. Senate. Committee on Finance
Publisher:
ISBN:
Category : Nonprofit organizations
Languages : en
Pages : 1360
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Book Description
Author: United States. Internal Revenue Service
Publisher:
ISBN:
Category : Charitable uses, trusts, and foundations
Languages : en
Pages : 16
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Book Description
Author: Anthony Mancuso
Publisher: Nolo
ISBN: 1413328652
Category : Business & Economics
Languages : en
Pages : 288
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Book Description
Form a 501(c)(3) tax-exempt nonprofit in your state You’ve got a cause you care about—now you just need the legal status that will help your organization raise money to further that cause. Here, you’ll find all the forms and information you need to create a tax-exempt nonprofit for your group. Learn how to form a nonprofit corporation in any state and gain 501(c)(3) tax-exempt status with the IRS. We provide step-by-step instructions for both IRS Form 1023 and the streamlined Form 1023-EZ federal tax exemption application. This edition covers the new required online filing for the Form 1023. With this book you can: choose a legal name prepare articles of incorporation create your bylaws obtain federal and state tax-exempt status prepare minutes for your organizational meeting establish a corporate records book, and handle postincorporation filings and tasks. With Downloadable forms: Forms to help you form your nonprofit are included both in the book and online details inside.
Author: Jody Blazek
Publisher: John Wiley & Sons
ISBN: 1394180195
Category : Business & Economics
Languages : en
Pages : 242
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Book Description
An essential, timesaving guide for accountants, lawyers, nonprofit executives and directors, consultants, and volunteers – Completely updated for 2023 This book is an indispensable guide to navigating the complex maze of nonprofit tax rules and regulations. A clear and fully cited description of the requirements for the various categories of tax-exempt entities from public charities, private foundations, civic associations, business leagues, and social clubs to title-holding companies and governmental entities can be found. Practical guidance on potential for income tax on revenue-producing enterprises along with explanations of many exceptions to taxability is provided. Issues raised by Internet activity, advertising, publishing, providing services, and much more are explained. This useful annual supplement for 2023 will cover any and all changes and updates to the law within the previous 12 month period and will keep accountants, attorneys, and others up-to-date for the year ahead. Features a variety of sample documents for private foundations, including penalty abatement requests and sharing space agreements Provides helpful practice aids, such as a comparison of the differences between public and private charities, charts reflecting lobbying limits for different types of entities, and listings of rulings and cases that illustrate permissible activity for each type of organizations compared to impermissible activity
