Merger and acquisition accounting

New accounting rules for mergers and acquisitions of nonprofit organizations are now in effect.  In the past, when two nonprofit organizations came together, the accounting was essentially to combine the accounting information of the two entities.  This is no longer allowed.

Under the new rules, there are mergers and acquisitions. The accounting for each is quite different. (more…)

Mini-courses from the IRS

The IRS has available on their web site a number of short, narrated courses on a variety of topics.  They are in PDF format, with each set of slides or entire presentation downloadable.  Length is from 7 to 37 minutes.

 Courses are available here.  Specific classes are:

 Presentation 1: Navigating IRS Resources for Tax-Exempt Organizations
Presentation 2: Political Campaigns and Charities: The Ban on Political Campaign Intervention
Presentation 3: The Wonderful World of Foundation Classification (Part I)
Presentation 4: Can I Deduct My Charitable Contributions?
Presentation 5: Applying for Tax-Exempt Status
Presentation 6: Preparing to File the New Form 990
Presentation 7: The Redesigned Form 990 – Part I
Presentation 8: The Redesigned Form 990 – Part II
Presentation 9: The Redesigned Form 990 – Part III
Presentation 10: The Redesigned Form 990 – Part IV
Presentation 11: An Overview of Form 990-EZ
Presentation 12: Disaster Relief – Part I
Presentation 13: Disaster Relief – Part II
Presentation 14: 403(b) Tax-Sheltered Annuity Plans – Employee
Presentation 15: 403(b) Tax-Sheltered Annuity Plans – Employer

Hope you can find something for you!

Small non-profits have more time to file 990-N to avoid losing tax exempt status

Nonprofits with revenue under $25,000 per year must file a 990-N at least once every 3 years to avoid loss of tax-exempt status. The deadline for filing the first 990-N, or risk losing exempt status, has been extended by the IRS. Christine Abrams, CPA, has more details.