Not-for-Profit Tax Compliance
This series of CPE courses is part of the Not-for-Profit Certificate Program. This track can be purchased individually, or as a part of the full Certificate Program. It provides a comprehensive grounding on key tax and compliance requirements for tax-exempt, not-for-profit entities. It includes real-world examples, case studies, animations and videos to create a flexible, dynamic learning experience.
Format
Online
NASBA Field of Study
Taxes
Level
Basic
CPE Credits
8
Author(s)
MTAX and William E. Turco, McGladrey LLP
Availability
1 year
Product Number
165140
This series of CPE courses is a part of the comprehensive Not-for-Profit Certificate I Program.This track can be purchased individually, or as a part of the full Certificate Program.
The 8-hour CPE-eligible Tax Compliance bundle provides an overview of tax and compliance requirements that apply to tax-exempt, not-for-profit entities. This 5-course set covers topics such as activities that can jeopardize tax-exempt status, the public support test requirement, reconciling Form 990 to financial statements and much more.
This interactive CPE program contains real-world examples, case studies, animations and videos to create a flexible, dynamic learning experience that you can complete anytime, anywhere.
The Tax Cuts and Jobs Act
The Tax Cuts and Jobs Act (TCJA, H.R. 1) signed into law on December 22, 2017 took effect for the 2018 tax year and included some changes for NFPs. The tax courses included in the Not-for-Profit Certificates will be fully updated for the amendments of the TCJA at a future date. In the meantime, to assist you in understanding the requirements of the TCJA, we’ve added the following:
- Supplementary information regarding the TCJA changes, which you can access via the course resources link within each tax course.
- A recorded webcast presentation discussing the TCJA changes and how they affect NFPs. This additional course is not eligible for CPE credit, and you do not have to complete it to complete the certificate program.
Courses Included:
- Meaning of exempt purpose
- Related vs. unrelated activities
- Definition of unrelated business income
- Consequences of excessive unrelated business income
- Exempt vs. non-exempt income
- Statutory exemptions and exclusions
- IRS Filing Requirements
- Differentiate between and recognize the basic compliance requirements of various types of tax-exempt organizations and recall the activities that a tax-exempt organization should limit to protect its tax-exempt status
- Identify the various federal and state filing requirements, including the IRS Form 990 series of returns, state sales tax exemptions and charitable registrations
- Recall the structure and core components of Form 990 and related schedules and identify common adjustments needed to reconcile Form 990 to financial statements prepared in accordance with Generally Accepted Accounting Principles (GAAP)
- Recall when a tax-exempt organization may be subject to unrelated business income taxes (UBIT) and identify the applicable filing requirements
- Recognize the unique compliance requirements and restrictions related to private foundations
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