If the IRS determined your organization is not tax-exempt or is proposing to revoke or modify your organization’s tax-exempt status, you have the right to appeal. A new IRS publication tells you how. After you give an IRS supervisor the chance to talk you out of appealing, you can officially file. Make sure you do …
Posts Tagged: non-profits
Federal Loan Forgiveness Program Redefined
Is your nonprofit having trouble attracting quality employees? The Department of Education just made it a little harder for religious organizations. The Public Service Loan Forgiveness program allows grads who take public-service jobs and make on-time loan payments for 10 years to have any remaining student debt erased. Huffington Post reports that seminaries across the …
Can I Raise Charitable Funds for My Friends?
We are often asked whether 501(c)(3) organizations can be established to raise funds for a particular person or persons. The answer is no. This was reconfirmed by the IRS last week with the release of a letter ruling reviewing an organization established to support three special needs children. The IRS ruled that it could not …
FAQ’s for Vow to Hire Heroes Act
As we first discussed here, the VOW to Hire Heroes Act expanded the Work Opportunity Tax Credit to tax-exempt employers. The IRS has now released frequently asked questions and answers regarding the Act. The FAQ’s cover everything from the definition of a “qualified veteran” to how to claim the credit. The IRS also provides examples …
New Law Limits Nonprofit Salaries
Should there be a cap on nonprofit executive’s compensation? The Governor of New York thinks so. A recent Executive Order limits the amount New York State will reimburse for executive compensation to $199,000 per year. According to Governor Cuomo, this is meant to reduce “excessive administrative costs and outsized compensation for [] senior executives.” This …
Is “.NGO” in Your Future?
.ORG is the traditional “top-level domain” for websites of nonprofits and other non-governmental organizations. But critics argue that the .ORG domain is unregulated, which leads to confusion and misleading websites. Hence, the proposed .NGO domain. Public Interest Registry and dotNGO are each vying to manage the new domain and create improved regulations. If ICANN, the …