Form 990-T electronic filing mandate now in effect
Taxpayers must electronically file 2020 Forms 990-T with due dates on or after April 15, 2021. Limited exceptions apply.
More Funding for Not-for-Profits in the New COVID-19 Stimulus Bill
The American Rescue Plan Act's changes to the Paycheck Protection Program make it easier for more not-for-profit organizations to receive funding – but as of now, the deadline to apply for PPP funds remains March 31.
Social Clubs Now Eligible for PPP Loans
The American Rescue Plan Act finally gives 501(c)7 Social Clubs the opportunity to apply for Payroll Protection Program (PPP) loans. But you better act fast because the funding for the second round of the PPP loans closes on March 31, 2021.
What we know about the Restaurant Revitalization Fund
American Rescue Plan Act of 2021 creates $28.6 billion grant program for restaurants and other food or beverage service companies.
Is Your Nonprofit Board Designed to Properly Oversee an Audit?
NFPs have always been adept at achieving great outcomes with few resources. This strength was put to the test even more in the past year. Whether an organization received extra funding or not, proper governance and fiscal oversight are more important than ever.
CARES Act relief and the impact to government contractors
Learn how CARES Act relief can affect current and future awards and timing considerations for government contractors.
Don’t Overlook Advantageous Provisions of the SECURE Act
Although the 2019 SECURE Act was the most significant retirement plan policy legislation in over 10 years, its provisions have been somewhat in the background due to COVID-19. We've highlighted the following provisions that plan sponsors and employers without a plan may want to consider now.
Hospitality industry may find relief in new ERC expansions
Despite receipt of PPP loans, hospitality businesses may be eligible for retroactive 2020 and new 2021 credits.
Managing Those Physical Stocks in Your Safety Deposit Box
Taking steps now to transfer your physical stock to electronic will take a considerable burden off of your executor. Plus, if you are able to transfer your physical stock while you are alive, you may also be able to retitle said stock and avoid probate.
Section 163(j) and Its Impact on Commercial Real Estate
This article explains Section 163(j) and its implications on small businesses, real estate, and manufacturing, including how taxable income and interest expense are defined under Section 163(j), as well as which business activities fall under 163(j) guidance.