Tax Reform for Tax-Exempt Organizations (Currently Unavailable)

Author: Jane Searing, Jennifer Becker Harris

Presented by Jane Searing and Jennifer Becker Harris, this self-study course covers the impact of the TCJA on not-for-profit organizations. Among other topics, you’ll learn how to identify reporting and compliance requirements and tax planning opportunities to discuss with clients.

Publication Date: February 2018

Designed For
CPAs, enrolled agents, tax return preparers, tax attorneys and financial advisors who work with not-for-profit organizations and their donors.

Topics Covered

• Impact of the TCJA on tax-exempt organizations
• Planning for implementing changes to the unrelated business income tax rules
• Addressing impact of changes in the law to non-profits as employers
• Unrelated Business Income provisions
• Important Time Frames
• Other Levers Which Could Impact Charitable Giving
• Projected Impact of Change in Itemized Deductions on Exempt Organizations
• Comparison of 2017 & 2018 Standard Deduction
• Why Changes in Itemized Deductions MAY Impact Charitable Giving
• NFP organizations as employers
• Transportation Benefits or On-site Athletic Facilities
• What Benefits are Impacted
• Operationalizing — Who Pays for Benefits?
• How to make a decision
• Highly Compensated Employees
• Other Benefits — No Longer Excluded From Income
• Unrelated Business Income Tax - Corporation or Trust?
• Changes in UBI Rules
• Net Operating Losses
• Donor Acknowledgment
• Why is Donor Acknowledgment Important?
• Donor Advised Funds — Read Notice 2017-73
• Consolidated Partnership Audit Regime
• Recommended Communication with Partnerships

Learning Objectives

• Recognize areas where additional guidance is needed or lacking guidance a tax position will need to be documented
• Identify reporting and compliance requirements and tax planning opportunities to discuss with clients
• Differentiate key time frames and highlights of the new Tax Cuts and Jobs Act
• Identify changes from the Tax Cuts and Jobs Act with respect to itemized deductions and charitable contributions that may impact charitable giving
• Identify the 2018 standard deductionfor those taxpayers that are married filing jointly
• Describe changes to the tax impacts of highly compensated employees
• Recognize cases resulting in a deduction being denied due to the CWA date being after the taxpayer filed the return
• Differentiate characteristics of Section 3 of Notice 2017-73 with respect to donor advised funds
• Recognize payroll provisions as a result of the TCJA
• Identify uniform basic income changes for not-for-profits
• Differentiate changes from the Tax Cuts and Jobs Act may result in a positive impact on charitable contributions
• Describe the increase amount in the estate and gift tax exclusion
• Recognize types of professions excluded from the highly compensated employees excise tax on excess compensation
• Identify how many years net operating losses may be carried forward under the new TCJA
• Describe cases resulting in contributions being denied because Form 8283 was not property completed
• Differentiate sections of Notice 2017-73 prescribe that ticket purchases with a quid pro quo value to the donor fund advisor are not permissible

Level
Update

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
Basic understanding of tax-exempt organizations and IRS reporting, compliance, and taxation issues.

Advance Preparation
None