Year-End Tax Update for Not-for-Profits

Author: Clark Nuber, Frances Olson, Jennifer Becker Harris

Per the IRS Education Provider Standards this course must be COMPLETED by 12/31/2026 to receive credits. NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN card

For many not-for-profit organizations, 2023 was a return to normalcy. Although COVID-19 continues to be on everyone's minds, many organizations have resumed their activities and adapted to a new normal. This course will focus on what regulatory changes have impacted the sector this past year. We will review recent IRS activity and how that may impact your organization. We will also discuss what changes we see ahead for the not-for-profit sector, especially with 2024 being an election year.

Publication Date: December 2023

Designed For
CPAs, CFOs, auditors, bookkeepers, staff accountants and others working with not-for-profit entities

Topics Covered

• State of the IRS
• Federal and State Regulatory Matters
• Case Law Updates
• Updates on the Tax Forms (Forms 990, 990-PF, and 990-T)
• Year End Planning Opportunities and Reminders

Learning Objectives

• Identify current IRS hot topics and ways to mitigate risk on the Form 990
• Recognize annual nonprofit compliance requirements
• Identify the highest source of audits in FY22
• Identify one of the items relevant to exempt organizations from the IRS Priority Guidance Plan
• Identify an Inflation Reduction Act credit that is currently available
• Identify the form that should be used to notify the IRS of a change of address or responsible party

Level
Update

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
Basic understanding of not-for-profit taxation

Advance Preparation
None