Book description
An essential, timesaving guide for accountants, lawyers, nonprofit
executives and directors, consultants, and volunteers
This book is an indispensable guide to navigating the complex maze of
nonprofit tax rules and regulations. A clear and fully cited
description of the requirements for the various categories of
tax-exempt entities from public charities, private foundations, civic
associations, business leagues, and social clubs to title-holding
companies and governmental entities can be found. Practical guidance
on potential for income tax on revenue-producing enterprises along
with explanations of many exceptions to taxability is provided. Issues
raised by Internet activity, advertising, publishing, providing
services, and much more are explained.
This useful guide covers the many significant issues facing nonprofit
organizations, including compensation and possible private inurement,
affiliation, separations and mergers, donor disclosures, lobbying and
electioneering, and employment taxes.
- Offers a supplemental, annual update to keep subscribers current
on relevant changes in IRS forms, requirements, and related tax procedures
- Includes easy-to-use checklists highlighting such critical
concerns as tax-exempt eligibility, reporting to the IRS, and
comprehensive tax compliance issues
- Features a variety of sample documents for private foundations,
including penalty abatement requests and sharing space agreements
- Provides helpful practice aids, such as a comparison of the
differences between public and private charities, charts
reflecting lobbying limits for different types of entities, and
listings of rulings and cases that illustrate permissible activity
for each type of organizations compared to impermissible activity
Filled with practical tips and suggestions for handling such critical
situations as preparing for and surviving an IRS examination, Tax
Planning and Compliance for Tax-Exempt Organizations, Fifth
Edition provides guidance for the significant issues facing
nonprofit organizations.
Jody Blazek is a partner in Blazek &
Vetterling, a CPA firm focusing on tax and financial planning for
exempt organizations and the individuals who create, fund, and work
with them. She is the author of six books in the Wiley Nonprofit
Series and served on the Panel on the Nonprofit Sector's Transparency
and Financial Accountability Work Group. She is former chair and a
member of Form 1023 and 990 Revision Task Forces for the American
Institute of Certified Public Accountants (AICPA).
Amanda Adams is a partner in Blazek & Vetterling. She has
coauthored (with Jody Blazek) Revised Form 990: A Line-by-Line
Preparation Guide (Wiley). She is an associate member of the
AICPA's Exempt Organizations Tax Technical Resource Panel. She has a
wealth of knowledge about the impact of partnerships, hedge funds, and
other alternative investments owned by nonprofits, private
foundations, and supporting organizations.
