Ideas & Insights

New legislation allows nonprofit employers to pay 50% of their unemployment reimbursing payment obligations to states.

The Federal Reserve Board has established two new loan facilities to expand credit options for nonprofit organizations.

Notice 2020-56 extends until Dec. 31, 2020, the due date for CHNAs or implementation strategies due on or after April 1, 2020.

TEGE will resume exam activities on July 16, 2020 and will allow agents and managers to exercise discretion in granting IDR extensions.

IRS explains taxability of Provider Relief Fund reimbursements made to health care providers pursuant to the CARES Act.

The IRS issued guidance clarifying the definition of gross receipts for tax-exempt employers utilizing the employee retention credit.

Section 4960 proposed rules add examples and clarity while generally following interim guidance and providing taxpayer-friendly exceptions.

Exempt organizations may carryback siloed NOLs to tax years beginning before 2018 and apply them to net unrelated business income.

Final regulations promulgated under section 6033 reduce Form 990, Schedule B reporting for certain exempt organizations.

Deadlines postponed for certain employment taxes, employee benefit plans, IRAs, HSAs, MSAs and other time-sensitive actions.

Recent IRS guidance allowing certain taxpayers to fax tentative refund claims is inapplicable to Form 990-T filers.

The IRS issued FAQs surrounding the federal income tax consequences to students receiving emergency financial aid grants under the CARES Act

The IRS released a proposed revenue procedure intended to update existing rules with respect to obtaining and maintaining a group exemption.

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

IRS updated guidance includes exempt organizations in extensions for filing, payment of taxes, and other time-sensitive actions.

Because of COVID-19 concerns, the IRS is extending pending deadlines for employers to adopt updated 403(b) retirement plan documents.

The CARES Act provides broad support and relief for tax-exempt organizations affected by the coronavirus pandemic.

Extensions for tax returns and payments due to the Coronavirus pandemic are largely inapplicable for most exempt organizations.

Discussion of how tax-exempt organizations can provide assistance to those impacted by the coronavirus pandemic.

The IRS released the electronic Form 1023 and guidance for mandatory use of the online application, effective February 1, 2020