Article Archives: 2020

On July 1, 2019, the Taxpayer First Act (TFA) was signed into law. The significance of this law centers on administrative procedures the IRS must enact in order to become a more taxpayer-friendly agency.

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Oftentimes, organizations that work across borders will come to Clark Nuber with their federal return, only to discover there are a lot more foreign operations reporting requirements than they anticipated.

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Issuing a donor receipt seems like a simple task, especially in today’s technological era. Many online giving platforms used by charities issue a receipt automatically, taking the burden off the development staff and reducing a charity’s overhead costs.

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It’s no secret that financial statement audits tend to raise the anxiety levels among the people involved. To reduce your stress when preparing for your next annual financial statement audit,

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On December 20, 2019, President Trump signed the Further Consolidated Appropriations Act, 2020. The bill will, in effect, create a flat net investment income (NII) excise tax rate of 1.39% for private foundations.

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Strategy and planning play a critical role in ensuring your not-for-profit’s financial goals align with the organization’s mission statement. As your not-for-profit prepares for 2020, here are essential financial planning items to consider:

Annual Reporting Requirements:

• Verify that your state registrations are up-to-date and current.

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In July 2019, the AICPA’s Audit Standards Board issued Statement on Auditing Standards (SAS) No. 136, Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA.

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