CPE Course Library

1 hour
Certificate CTEC IRS NASBA

Nonprofit Tax Update

Since 2011, over 450,000 organizations lost their tax-exempt status. This course provides in-depth coverage of both the causes and solutions of this major issue. You will learn about new changes and how to avoid some of the major pitfalls that could be lurking in the next year. This course is a necessity for tax practitioners who must navigate through the IRS minefields of nonprofit tax laws and procedures.

Topics Covered:

  • IRS 501(c)(4) problems and the crisis with nonprofit applications
  • IRS revocation of tax-exempt status and a current update of solutions that are available to the victims of this harsh action — new procedures
  • Recent Form 990 changes
  • IRS target areas
  • The interactive Form 1023 EZ
  • Nonprofit governance practices — new IRS emphasis
  • GAO Report on Nonprofit Compliance
  • Tax-motivated transactions or donative intent?
  • Taxpayer Bill of rights
  • IRS reorganization of nonprofit operation
  • Court cases and rulings

Learning Objectives:

  • Identify recent tax changes that impact the filing of the Form 990 series of tax returns
  • Understand and apply changes for obtaining reinstatement of IRS tax-exempt status
  • Explain to clients how the currently challenged economy affects the nonprofit sector
  • Avoid some of the legal pitfalls that could impact nonprofits in the current tax year

Delivery Method: Self Study
Field of Study: Other Federal Tax
Prerequisites: None
Advance preparation: None
Program Level: Basic
Expiration: In accordance with NASBA standards, access to this course will terminate one year from the date of purchase. Incomplete courses will no longer be accessible beyond the one year deadline.