New Penalties on 1099s Affect Non-Profit Organizations

In July 2015, President Obama signed into law the Trade Preferences Extension Act of 2015. Included on the bill was an important provision that affects non-profit organizations as well as for-profit businesses and individuals.The Act included a substantial increase to filing penalties for information returns 1099 and 1096 filed after December 31, 2015, effectively doubling …

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Fraud in Non-Profits?!

It can’t be. After all, these organizations are meant to help those less fortunate than ourselves. Why would anyone commit fraud against a non-profit organization? Unfortunately, because they can is too often the answer. Many non-profit organizations simply don’t have the staff or the budget to implement proper internal control procedures to help mitigate the …

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