Article Archives: 2016

Is your global company up to date on the latest IRS transfer pricing requirements? If it participates in the international exchange of goods, services, or intangible assets with related entities, it should be. The IRS has identified transfer pricing as one of its most prominent audit issues – and other revenue-strapped tax authorities are following suit. […]

Posted by: Julie Eisenhauer

By Julie Eisenhauer, CPA The Final Rule on overtime, which the Department of Labor (DOL) announced in May, enables employees to qualify for overtime pay more easily. Though the overtime rule has been a source of great confusion amongst employers for some time, the July proposal incited a great deal of speculation as to how it […]

Posted by: Pete Miller

By Pete Miller, CPA, CFE April 21, 2020 update: To provide accounting relief and clarity during the COVID-19 crisis, the FASB published an exposure draft with proposals to delay the effective dates for Leases (Topic 842). Find more information here. Many companies worldwide will soon take a different view of their balance sheets. Entities that pay to […]

Posted by: Karen Dunn

By Karen L. Dunn, JD, LLM September 6th is the due date for filing the notification of intent to operate as a 501(c)(4) organization, if the organization existed on July 8, 2016 and is otherwise not excepted from this requirement. Newly created organizations must file the notification and pay a small user fee, no later […]

One typically thinks of net assets in one of three categories: unrestricted, temporarily restricted, or permanently restricted. Organizations with endowments are very familiar with the concept of comparing the organization’s permanently restricted net asset balance to the related investment balance, and determining the amount that those net assets are over or under water. A similar […]

Posted by: Sarah Huang

By Sarah Huang, CPA On June 14, the House passed a bill prohibiting the requirement that Section 501(c) organizations must disclose their donors on Schedule B. Under current law, all organizations exempt under §501(c) must provide the IRS with a listing of any donor that gave $5,000 or more during the tax year. Some organizations qualify […]

Posted by: Bob Heller

By Bob Heller, JD, LLM For those in the nonprofit community with activities in Washington, it often bears repeating that there is no general nonprofit exemption from the State’s business and occupation (“B&O”) tax. The B&O tax is a tax imposed on gross revenue for the privilege of doing business. The State’s definition of “business” […]

Posted by: Troy Rector

By Troy Rector, CPA The lack of indirect cost recovery from Federal grants is nothing new for Not-for Profits (NFPs). This has been especially true for those NFPs who do not have a federally negotiated indirect cost rate, as they receive all, or predominant amounts, of Federal grants from pass-through entities. The Office of Management […]

Posted by: Karen Dunn

By Karen Dunn, JD, LLM The Protecting Americans from Tax Hikes Act of 2015 (PATH) was signed into law December 18th and includes many provisions affecting charities. Last month, we focused on the permanent extensions in the bill. This month, we focus on the new notice requirements for self-declared 501(c)(4) social welfare organizations in Code […]

Posted by: Sarah Wine

By Sarah Wine, CPA Depending on your organization, in-kind donations may be a primary portion of your revenue and mission, or they may play a minor role in the totality of your revenue. Food banks or thrift stores rely heavily on donated food or goods, whereas performing arts organizations or museums may only receive in-kind […]

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