Nonprofits today are operating in a rapidly shifting environment where legal compliance, government scrutiny, and funding uncertainties are becoming more complex. With recent reports of
The IRS has issued a warning to taxpayers about a surge in fraudulent tax schemes involving donations of ownership in closely held businesses, often referred
Each year, the Internal Revenue Service (IRS) adjusts various tax-related thresholds to account for inflation. These updates ensure that tax attributes keep pace with the rising cost
The U.S. Supreme Court’s decision in Loper Bright Enterprises v. Raimondo and the U.S. Court of Appeals for the Fifth Circuit’s recent ruling in the Memorial Hermann Accountable
This post highlights critical Form 990 red flags that stakeholders should be aware of to safeguard their nonprofit’s reputation and operational effectiveness.
501(c)(3)s are limited in their ability to lobby. Federal tax law restricts a 501(c)(3)’s lobbying activities under either the substantial part test or expenditure test.
The 1023-EZ is a good faith effort by the IRS to make the 501(c)(3) application process more efficient and accessible.
The IRS has announced a new procedure, Rev Proc 2024-5, facilitating the issuance of determination letters to existing 501(c)(3) organizations aiming to change their recognized
The determination letter is a notice sent by the IRS stating the nonprofit’s exempt status.
Tax-exempt organizations must allow timely public inspection of their last three annual information returns and their exemption application or risk steep penalties. Many nonprofits are caught off guard when they receive their first request. Below is a summary of what must be provided and when and what may be withheld.
Most states require you to register your organization if you solicit donations from their residents. Many states also require registration if your organization collects substantial or ongoing donations from their residents, even if you aren’t specifically targeting donors in that state. Download our comprehensive list of each state’s requirements.
Download our free guide to learn about the many elements needed to run a successful nonprofit organization, as well as how to avoid common pitfalls and mistakes.