The 2014 revisions to Form 990 Schedule A contained a number of changes for tax-exempt entities, and Type I, II, and III supporting organizations will feel the greatest impact. We give an overview of the new classification tests.
IRS Announcement 2016-17 provides penalty relief for 2016 Form 1098-T, which eligible educational institutions are required to file by February 28, 2017.
Wineries and vineyards have a number of tax-planning opportunities available to them—from accounting method elections to domestic international sales corporations, farming income averaging, and more. Learn more in this Insight.
New and some existing 501(c)4 social welfare organizations can no longer self-declare exempt status using Form 990. An initial notification, user fee, and supporting information are now required.
Organizations that receive federal funds must follow new processes for procurement under the uniform guidance. In this Insight, we cover the five procurement methods as well as best practices for implementing the guidance.
Final regulations issued by the IRS on program-related investments provide amended guidance for private foundations. These changes were highly anticipated and make the process of investing easier.