All tax-exempt organizations are required to complete a 990 tax form. This form gives an overview of the organization's activities, financial details, and information on how the organization is governed. Learn about Form 990 and which version your tax-ex
Independent contractors and others who receive income from sources other than an employer can expect to receive a 1099 instead of a W-2. So, what is a 1099, and how do you use it to file your taxes? Here's everything you need to know about Form 1099, inc
Form 8868is an IRS tax extension form used by tax-exempt organizations to request a 6-month extension to file their annual information returns (Original Form). This extension is automatic, which means the IRS doesn’t require you to provide any reason for making the request. The 6-month ext...
That is…unless you lose it. Specifically, I’m talking about losing yourForm SS-4– the form you submitted to the IRS when you applied for an EIN number– or the confirmation letter that’s typically given to you by the IRS when an EIN or TIN is registered to you which has your EI...
The New IRS Form 990: What Does It Mean for Your Organization?Jeffrey S. TenenbaumGeorge E. ConstantineThora A. Johnson
It is not a special type of entity structure, but rather denotes that the LLC is owned by an IRA or IRAs. Why isn’t Equity Trust listed on the IRS non-bank custodian list? All IRAs must be held by a custodial entity such as a bank, credit union, trust company, or an entity ...
If you make a change in your nonprofit organization's bylaws, you must report these changes to the IRS using Form 990. The IRS must be notified when there are changes to your tax-exempt corporations' purpose or business methods. If the changes made to your bylaws violate the rules for tax...
Consequently, the government doesn’t earn revenue from sales of products or services. Your contribution to revenue collection may be through the income tax you pay the government. In the US, the organization overseeing that collection is the Internal Revenue Service, or IRS. Many states, ...
This series of CPE courses is part of Not-for-Profit Certificate II. You will learn how to apply techniques to successfully prepare an exempt organization’s IRS Form 990, identify when an organization may be liable for unrelated business income taxes, and identify common exceptions and exclusion...
Taxpayers receive IRS Form1099-INTfor any investment interest they earn during the tax year.5The reporting of tax-exempt interest is in box 8 of the 1099 form. This information is only data and is not included in the calculation of personal income taxes.6 ...