IRS Answers Questions about Virtual Currency Donations
January 23, 2020 - The IRS has added two answers about virtual currency donations to its existing FAQs. The new information addresses donor acknowledgment and IRS reporting requirements.
IRS Releases New Tax Withholding Estimator
January 16, 2020 - The IRS has released an enhanced Tax Withholding Estimator that incorporates changes from the redesigned Form W-4, Employee’s Withholding Certificate.
Key Federal Tax Figures for 2020
January 14, 2020 - Download or print this helpful annual chart of Key Federal Tax Figures for reference throughout the year. There are several key points to note.
Repeal of the Parking Tax Is Now Law
December 23, 2019 - It's official: President Trump has signed the legislation repealing the parking tax. Organizations that paid tax on disallowed fringe benefits may file an amended return seeking a refund.
Early Christmas Gift? Repeal of the Parking Lot Tax Pending
December 18, 2019 - The long-awaited repeal of Internal Revenue Code section 512(a)(7) appears all but assured. The repeal would be retroactive to the date of enactment.
General Form 1099-MISC Preparation Guidelines
We often receive questions about preparing IRS Form 1099-MISC. These general guidelines explain who should (and should not) receive a Form 1099-MISC and provide additional considerations.
Webcast for Nonprofits: 2019 Nonprofit Tax Year-End Review
December 19, 2019 - Get a summary of the most important changes taking place in exempt organization tax — and a look at what 2020 will bring.
One Year After Wayfair: What Nonprofits Need to Know
The South Dakota v Wayfair case opened the door for states to require organizations to collect and remit sales tax even if the organization has no in-state physical presence. Take a look at what’s changed and the challenges that may still be ahead for nonprofits.
The Importance of ACA Compliance for Churches
July 30, 2019 - The IRS will be contacting some churches about the Affordable Care Act. All church leaders should ensure their churches are compliant.
IRS Answers Many Questions on New 21% Executive Compensation Tax
Learn more about the new executive compensation tax on “excess” executive compensation paid by tax-exempt and certain governmental entities.