While most taxpayers – including for-profit corporations – have already filed their tax return (or extension) for the year, it’s still filing season for many tax-exempt organizations. There are just a few days left for those organizations to comply: for most tax-exempt organizations, the key date is May 15. May 15 is the filing deadline…
The IRS has announced that tax-exempt organizations with January and February filing due dates will have until March 30, 2012. If you are affected, you don’t need to file anything to get the March 30 extension as it’s automatic. The extension only affects a handful of orgs since most charities operate on a calendar year…
The mayor of Providence, Rhode Island, Mayor Angel Taveras, made national headlines last week when details emerged about his plan to tax nine tax-exempt hospitals, colleges and universities in an effort to raise revenue. If the tax stands, the city could collect millions from previously untapped sources. Providence, like many U.S. cities, is struggling to…
The IRS has announced a change in the reporting requirements for small tax-exemption organizations. Beginning in 2007 (for tax year 2006), organizations with gross receipts of less than $25,000 were required to file a form 990-N (sometimes called an “e-Postcard”) with the IRS each year. Beginning in 2011 (meaning the 2010 tax year), the threshold…
Charitable organizations with annual gross receipts of $25,000 or less have just a few more days to get compliant under an important deadline extension from IRS. In July 2010, the IRS issued a statement (you can read the statement online here.) So really, what all of this means is this: The new deadline for filing…
We do a lot of nonprofit and tax-exempt work at my firm. People come into my office with all kinds of ideas for charitable organizations. I thought I’d heard it all – apparently, I hadn’t. The “Case of the Charitable Sperm Bank” has put an interesting twist on the types of charitable activities that taxpayers…
Bill Keller is at it again. The man who claimed “A vote for Romney is a vote for Satan” has now declared that Obama is “God’s Enemy” (as shown on his web site). You can watch his “analysis” of Obama here: It’s long – over 8 minutes – so be prepared. So why should you…
With just the click of a mouse, you can now pay your power bill, reconcile your checking account and make a donation to your church. Yep, you read the last part correctly. In response to recent changes which now require a taxpayer to have a bank record or written communication from a qualified charity to…