How Not-for-Profits Are Impacted by the Families First Coronavirus Response Act
On March 19th 2020, President Trump signed the Families First Coronavirus Response Act (FFCRA), H.R. 6201 into law. The bill consists of a many short-term paid leave directives and employer reimbursement conditions, and also includes funding for coronavirus testing, food nutrition security, and unemployment extension. Employment Provisions The FFCRA
Nonprofit Tax Exemption Applications Must Now Be E-filed
The desire to help others is one that is shared by most everyone regardless of occupation, income status and location. The transformation of the desire into a passion is when many take action and investigate how to start a nonprofit organization. There are several steps to take which include; identifying
Parking Tax Repealed and Private Foundations Tax Change
On December 20, 2019, President Donald Trump signed into law a tax package/funding bill which retroactively repeals the transportation fringe benefit tax that was enacted in the Tax Cuts and Jobs Act (TCJA). The “Parking Tax” was an incredible burden on the tax-exempt sector and caused many organizations to pay
Non-Profits & the Overhead Myth
When it comes to non-profits, the word “overhead” carries a lot of weight. For example, Form 990 has an entire page dedicated to breaking out an entity’s expenses by type, with a total at the bottom which sums all program, fundraising, and administrative expenses–the latter two collectively known as “overhead.”
Report Suggests Widespread Noncompliance Among Tax-Exempt Sector
On May 8th, the Subcommittee on Oversight of the Committee on Ways and Means held a hearing on the International Revenue Service’s Colleges and Universities Compliance Project Final Report. Released on April 25th of this year, the report was based on an audit of 34 colleges and universities identified as
Reminder: Ohio non-profits must register online
The Ohio charities and non-profits registration process has changed with the launch of the Online Charitable Registration System. The new system, which launched December 1, 2011, aims to eliminate the paper-based process of filing with the Ohio Attorney General. Moreover, the Online Charitable Registration System will increase transparency and accountability