Two IRS related things to look at as 2010 winds down and we look to a new year: There is a more extensive write up on both issues on Massnonprofit.org 1. Nonprofits May Get More in 2011 from Foundations, New Tax Law: The IRA Charitable Rollover, a part of the Middle Class Tax Relief Act […]
View Post donations, Governance, irs, non-profit boards, nonprofit, taxesOne of the little known provisions of the new health care law could have a really big impact on your organizations accounting and tax reporting for the calender year 2011. When Congress passed the 2010 Patient Protection and Affordable Care Act, one provision of this law was to require all businesses, including nonprofit organizations, to submit the Form 1099-MISCs to any vendor who was paid $600 or more during the calendar year.
View Post massnonprofit, nonprofit accounting, nonprofit resources, nonprofit services, nonprofit tax reportingHere are Seven Tips for determining if you are hiring an employee or an independent contractor.
View Post Employee Status, Employment, Independent contractor, Internal Revenue ServiceMassNonprofit.org posted on July 29, 2010 that over 8,000 Non-Profit Organizations in Massachusetts are at risk of losing their tax-exempt status because they failed to file required federal tax forms for the last 3 years. Organizations that have not complied with federal filing requirements have until October 15, 2010 to preserve their tax status under […]
View Post nonprofit accounting, nonprofit education, nonprofit resources, tax exempt status, tax-exempt organizations