OUR THOUGHTS ON:
Not-for-Profit

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New Revenue Procedure for Contributors Making Donation to Tax-Exempt Organizations

New Revenue Procedure 2018-32 modifies, consolidates and supersedes Rev. Proc. 81-6, Rev Proc. 81-7, Rev. Proc. 89-23 and Rev. Proc. 2011-33 in providing ... read more >

IRS Clarifies Treatment of Transportation Fringe Benefits for Tax-Exempt Employers

The IRS recently released subsequent guidance on an issue we discussed in a previous Our Thoughts On article (see here). In late March, the agency updated ... read more >

Museums to Receive Clarity on Accounting for Collections

The Financial Accounting Standards Board (FASB) will soon release for public comment a proposal revising its guidance on accounting for historical collections. ... read more >

Siloing of Unrelated Business Income Is Creating Many Questions for Tax-Exempt Organizations

“Siloing” is the term being used to describe the 2017 tax reform change that requires exempt organizations to separate each of their unrelated ... read more >

Pennsylvania Nonprofit Alert: State Raises Audit Requirement Threshold

On December 22, 2017, Governor Tom Wolf signed two legislative measures that amend the Pennsylvania Solicitation of Funds for Charitable Purposes Act. ... read more >

Tax Reform Changes to Charitable Deduction

As promised, the House-Senate Conference Committee on the Tax Cuts and Jobs Act has preserved the deduction for charitable contributions. The new law actually ... read more >