Tax Planning and Compliance for Tax-Exempt organizations: Rules, Checklists, Procedures, 2022 Cumulative Supplement, 6th Edition
- 3h 54m
- Jody Blazek
- John Wiley & Sons (US)
- 2022
An essential, timesaving guide for accountants, lawyers, nonprofit executives and directors, consultants, and volunteers – Completely updated for 2022
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 annual supplement for 2022 will cover any and all changes and updates to the law within the previous 12 month period and will keep accountants, attorneys, and others up-to-date for the year ahead.
- 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
About the Author
JODY BLAZEK (Houston, TX) is a partner in Blazek & Vetterling, LLP, a Houston-based CPA firm providing tax compliance and auditing services to tax-exempt organizations and tax consulting services to other accountants and lawyers who serve nonprofits. The author worked with the 1023 Revision Task Force, is currently on the 990 Revision Task Force, and is past chair of the AICPA Exempt Organization Resource Panel. Jody serves on the Transparency and Financial Accountability Work Group of the Panel on the Nonprofit Sector of Independent Sector. She is a member of the Exempt Organization Tax Review and the AICPA Tax Adviser advisory boards. She is founding director of the Texas Lawyers and Accountants for the Arts and the Houston Artists Fund. Her focus on tax-exempts began in 1969 when, at KPMG, she advised private foundation clients about the significant changes in the tax rules. She gained nonprofit industry experience as the treasurer of the Menil Interests before returning to public practice in 1980 to form the firm she now serves.
In this Book
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Preface
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Distinguishing Characteristics of Tax-Exempt Organizations
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Qualifying Under IRC § 501(c)(3)
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Religious Organizations
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Charitable Organizations
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Educational, Scientific, and Literary Purposes and Prevention of Cruelty to Children and Animals
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Civic Leagues and Local Associations of Employees—§ 501(c)(4)
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Social Clubs—§ 501(c)(7)
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Instrumentalities of Government and Title-Holding Corporations
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Public Charities
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Private Foundations—General Concepts
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Excise Tax Based on Investment Income—IRC §4940
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Self-Dealing—IRC § 4941
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Minimum Distribution Requirements—IRC § 4942
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Excess Business Holdings and Jeopardizing Investments—IRC §§ 4943 and 4944
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Taxable Expenditures—IRC § 4945
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IRS Filings, Procedures, and Policies
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Maintaining Exempt Status
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Private Inurement and Intermediate Sanctions
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Unrelated Business Income
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Electioneering and Lobbying
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Deductibility and Disclosures
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Employment Taxes
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Cryptocurrency
