IRS Hosts Non-Employee Compensation Awareness Meetings

New for 2021 is Form 1099-NEC (Non-employee Compensation).  The IRS now requires exempt organizations to report non-employee compensation on the new Form 1099-NEC instead of Form 1099-MISC.  This is for payments totaling $600 or more to a nonemployee, such as an independent contractor.   Form 1099-NEC should be filed with the

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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

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Parking Tax Repealed and Private Foundations Tax Change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

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