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IR-2010-10 - Automatic Revocation of Tax-exempt Status

filed in Taxes on Feb.09, 2010

I loved the IRS’s provided “drop in media”, which displays your tax return being crumpled and thrown in the garbage. Their portrayal isn’t far from what happens if you don’t file your 990 – you are in effect throwing away your 1023. With IR-2010-10 the IRS has implemented an automatic revocation of tax-exempt status for [...]

Tags: 1023, 990, 990-EZ Qualifications, 990-N, annual receipts, assets, calendar year-end, Compensation, disclosure, insurance premiums, IR-2010-10, IRS, Nonprofit Accounting, Not-For-Profit Accounting in Casa Grande, Not-For-Profit Accounting in Scottsdale, Not-For-Profit Accounting in Tempe, tax deductible, tax return, tax year, tax-exempt status, W-2

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Understanding Financial Statements and Footnotes
Date: September 9, 2010 – Scottsdale Office
Presenter: Jessica Puckett, CPA, CFE
When do Not-for-Profit organizations get to recognize revenue and promises to give from donors and grants? Is all revenue treated the same? How should restricted revenue be recorded? Attend this seminar to get your revenue recognition and restrictions questions answered.

Accounting Standards Update
Date: August 12, 2010 – Scottsdale Office
August 20, 2010 – Tempe Office
Presenter: Colette Kamps, CPA and Katie Thomas, CPA
Learn about recent changes in Accounting Standards that affect not-for-profit organizations. This technical update will include endowment disclosures, fair market value concepts, and not-for-profit mergers and acquisitions.

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