Most types of tax-exempt entities may establish unfunded eligible deferred compensation plans under Sec. 457, sometimes called “top-hat” plans because they are designed for members of management and highly compensated individuals.
Advertisement
Topics
Tax-Exempt Organizations
Some Form 990 Filers Have Extension to March 30
The IRS extended the filing deadline for Form 990 until March 30, 2012, for many tax-exempt organizations with a filing due date during the first two months of the new year.
Form 990 Changes Implemented in Final Regs.
The IRS issued final regulations implementing extensive revisions made in 2008 to Form 990.
Final Regs Implement Form 990 Changes
The IRS issued final regulations implementing extensive revisions made in 2008 to Form 990, Return of Organization Exempt from Income Tax.
New Form 990: What’s Confusing Filers?
The redesigned Form 990 has been the subject of much discussion since the IRS released it in 2007, and several areas of confusion have been identified. This item highlights problems frequently encountered by practitioners, including many compensation issues.
Creating a Private Foundation to Meet Charitable Goals
This column assesses the advantages and disadvantages of using a private foundation to meet charitable goals.
Form 990 Filing Deadline for Tax-Exempt Hospitals Delayed
The IRS has announced that it is granting certain tax-exempt hospitals an automatic three-month extension of time to file their 2010 Forms 990. The automatic extension applies to Forms 990 with a due date before August 15, 2011; the IRS is also directing affected hospitals not to file before July 1, 2011.
Disclosure of Nonincome Tax Contingencies Under ASC 450 for Not-for-Profit Entities
This item focuses on the importance of properly accounting for and considering the impact of nonincome taxes as they apply to not-for-profit (NFP) entitles.
IRS Issues First Guidance on Nonprofit CO-OP Health Insurers
The IRS issued its first guidance on the requirements for new qualified nonprofit health insurance issuers under Sec. 501(c)(29) and has requested comments on specific issues.
IRS Raises Form 990 Filing Threshold
The IRS has raised the gross receipts threshold for Form 990, Return of Organization Exempt from Income Tax, from $25,000 to $50,000, allowing more tax-exempt organizations to avoid filing a full Form 990 or 990-EZ.
IRS Delays 990 Filing Deadline for Tax-Exempt Hospitals
The IRS announced that certain tax-exempt hospitals will be granted an automatic three-month extension to file their 2010 Forms 990.
IRS Allows More Small Exempt Organizations to File E-Postcard
The IRS has raised the gross receipts threshold for Form 990, Return of Organization Exempt From Income Tax, from $25,000 to $50,000, allowing more tax-exempt organizations to avoid filing a full Form 990 or 990-EZ.
Qualified Sponsorship Payments and Advertising Income: Analyzing Unrelated Business Taxable Income
Determining whether receipts qualify as sponsorship payments or advertising income can be quite burdensome for most nonprofit organizations. The item describes how to properly structure unrelated business taxable income so as not to adversely affect the organization’s cashflow.
IRS Provides Relief for Small Tax-Exempt Nonfilers
The IRS announced that is providing relief for small tax-exempt organizations that are supposed to automatically lose their tax-exempt status because they failed to file Forms 990-EZ or 990-N for the years 2007, 2008, and 2009. Under a special one-time program, the IRS is giving those organizations until October 15,
Automatic Revocation of Tax-Exempt Status to Start Monday
Monday, May 17, is the deadline for calendar-year tax-exempt organizations to file their Forms 990 for 2009. It also marks the third filing deadline under the mandatory filing requirement instituted by the Pension Protection Act of 2006.
Reporting Requirements for Exempt Organizations with Activities Outside the U.S.
This item introduces and clarifies the foreign disclosure requirements reported on Schedule F, Statement of Activities Outside the United States, of the new Form 990.
Small Tax-Exempt Organization E-Postcard Requirements Finalized
The Pension Protection Act of 2006 made various modifications to the provisions governing tax-exempt organizations.
Revised Form 990: The Evolution of Governance and the Nonprofit World
The revised Form 990, Return of Organization Exempt from Income Tax, incorporates many of the same governance principles and transparency best practices introduced to the for-profit world through the Sarbanes-Oxley Act.
Sponsorships Offer Opportunities for Nonprofits, Corporations
With declining endowments and decreasing charitable contributions, many exempt organizations are considering creative ways to obtain funding. Corporate sponsorships remain one excellent opportunity.
Transfers Between Controlled Entities Can Provide Surprises Under Sec. 512(b)(13)
Many tax-exempt organizations are growing into complex multi-entity groups including both nonprofit corporations that are tax exempt under Sec. 501(c) and for-profit entities, which are taxed accordingly.
TAX PRACTICE MANAGEMENT
2025 tax software survey
AICPA members in tax practice assess how their return preparation software performed during tax season and offer insights into their procedures.
