Ideas & Insights

Utilizing data as a tool to drive greater efficiency and better decision-making in your nonprofit organization.

Section 4960 final rules generally adopt the proposed regulations with some minor, taxpayer favorable modifications.

The DOL has issued final regulations on the FSLA’s rules for independent contractors including gig workers, but it may be repealed.

The Employee Retention Tax Credit was significantly expanded by the federal relief and stimulus package finalized Dec. 27, 2020.

Treasury Department and SBA announce reopening dates for Paycheck Protection Program - Jan. 11, 2021 and Jan. 13, 2021.

SBA releases two PPP reopening guidance packages. The first round of guidance provides information for new PPP borrowers.

SBA releases two PPP reopening guidance packages. The second guidance package provides information for eligible second draw PPP borrowers.

Year-end stimulus legislation extends Paycheck Protection Program and expands eligibility for exempt organizations.

Section 501(c)(4) organizations must submit applications for tax-exempt status to the IRS electronically through pay.gov.

Notice 2021-01 provides that private foundations may paper file Form 4720 until electronic filing of the form becomes available in 2021.

The IRS created a new Form 1099-NEC to report nonemployee compensation with a different due date than Form 1099-MISC.

The IRS provides welcome guidance to higher education institutions that made emergency relief grants to students.

The regulations largely mirror the proposed regulations with additional, mostly favorable, clarifications for taxpayers.

IRS guidance on the 15% maximum on automatic contributions, 401(k) and 403(b) plan safe harbor requirements, and plan loan offset rollovers.

RSM’s FAO platform delivered better financial insight for Character Lab and significantly reduced its year-end close and audit timeline.

Join our nonprofit industry series as we explore current accounting, tax and other operational issues affecting nonprofit organizations.

Despite tragedy and accounting issues, Shadowserver has rebounded to thrive with help from RSM finance and accounting outsourcing.

Treasury and the IRS release final guidance to exempt organizations for separately computing UBTI under section 512(a)(6).

The Treasury 2020-2021 Priority Guidance Plan contains numerous anticipated projects affecting exempt organizations.

The TE/GE division’s 2021 program letter contains a summary of its priorities for the fiscal year and a new compliance priority webpage.