Big Changes to PPP Loan Forgiveness Rules
Newly passed legislation is heading to President Trump's desk that will substantially alter the original forgiveness terms for PPP loans.
IRS Extends Filing Deadline For 2019 Form 990
As expected, the IRS has officially extended the filing deadline for 2019 Form 990.
The CARES Act Increases Donation Tax Deductibility
The CARES Act that Congress passed in response to the COVID-19 crisis is best known for its Payroll Protection Program SBA loans and other measures of cash relief. Getting less attention are the provisions that increase the tax-deductibility of donations…
The CARES Act May Help Your Nonprofit Retain Its Staff
On Friday, March 27, 2020, Congress approved the Coronavirus Aid, Relief and Economic Security (CARES) Act. This is the third phase of a sweeping relief package Congress has passed in its efforts to mitigate the economic impact of COVID-19.
COVID-19: Now Is The Time For Leadership
Today is St. Patrick's Day, 2020. Sadly, there won't be much revelry this year. No parades, no leprechauns, and no green beer. This morning as I write this post, I am at my desk with just 3 others of my…
IRS Releases Online, Electronically-Fileable Form 1023
The IRS has released a new online, electronically-fileable Form 1023, application for 501(c)(3) status.
What is IRS Form 990-PF?
Private foundations are a unique class of 501(c)(3) organization…so unique, in fact, that they have their own exclusive version of IRS Form 990, called Form 990-PF. In this post, our 5th in this series, we’re going to examine just what…
Understanding the IRS Form 990
IRS Form 990, the full-length version, is arguably the most detailed tax return the average person is likely to encounter. While there are certainly IRS tax forms that are equally complex, most are used for very targeted situations, not for…
What is Form 990-EZ?
This article is the third in our series that explores the various versions of IRS Form 990. Form 990-EZ is annual information return filed by small-medium sized public charities and certain other nonprofits, at least as measured by gross revenue.
What Is IRS Form 990-N?
As we established in our Form 990 overview post, there are 5 versions of IRS Form 990, one or more of which is required to be filed annually by every 501(c) organization. Form 990-N, the shortest version and the one required…