filed in Fraud on Oct.27, 2009
Do you think you would notice if someone was padding their payroll within your organization? What if that person added a friend to the payroll that never worked there? I recently read an article in the Phoenix Business Journal about a woman who allegedly paid herself an extra million dollars over the course of 8 [...]
filed in Form 990 on Oct.20, 2009
I recently had a client from a non-profit organization that we audit call me in a panic concerning an IRS notice they received. According to the notice, titled REQUEST FOR FORM 990 OR FORM 990-EZ, the IRS did not receive their 6/30/09 Tax Form 990, and they could possibly be subject to fines and penalties.
Because the [...]
filed in Fraud on Oct.13, 2009
Has your organization had to do a layoff for furlough due to the current state of the economy? It’s not uncommon for many organizations to deal with unstable times through some type of workforce reduction. While reducing your workforce will save money in employee salaries and benefits, it’s essential that organizations assess their current state [...]
filed in Not-For-Profit (non-profit) Accounting on Oct.06, 2009
A recent Tax Court case has brought to our attention a taxable event that can catch nonprofit organizations by surprise.
We all know that certain income from debt-financed property can result in unrelated business taxable income. This is normally rent that is collected on mortgaged property. The nonprofit is taxed on the net rental income, at [...]
Loading ...