Running a nonprofit organization comes with the responsibility of maintaining compliance with IRS rules and regulations. Read more for practical tips on how to prepare for an IRS compliance audit.
Gilliam Bell Moser’s staff stepped out of the office and on to a construction site to help Habitat for Humanity of Alamance County. Our staff spent two days working on a house that will become a home for a much deserving family.
Major revisions to the withholding tables were made in January 2018 as a result of the 2017 Tax Cuts and Jobs Act. A new version of Form W-4 is expected to be released in November.
Volunteers are an integral part of many nonprofit organizations. Training will enable the volunteers to better understand and work more efficiently for the organization.
The establishment of core values in the early stages of a nonprofit’s operations is important because these core values allow donors to better understand the purpose of the organization.
Recently, the Secretary of Revenue announced an automatic waiver of penalties associated with the failure to file Form NC-3 and the required W-2 and 1099 statements electronically for tax year 2019.
One of the best ways to protect an organization from fraud is by staying proactive when determining risk areas and properly addressing these areas to limit opportunities for fraud. The fraud triangle suggests that 3 key elements are required for an individual to commit fraud.
For years, many small to medium-sized companies have considered company-owned autos to be a “popular perk” or fringe benefit. Having a company-owned auto yields many non-tax as well as tax benefits for the company and the employee.
Annually, nonprofits must file the appropriate type of Form 990 tax return. What would a potential donor think if they read the organization’s tax return online through sites such as www.guidestar.org?
Corporations, S Corporations, partnerships (including limited liability companies) and sole proprietorships all have some impactful implications from the Tax Cuts and Jobs Acts (TCJA).
