Tax Planning and Compliance for Tax-Exempt Organizations: Rules, Checklists, Procedures (Wiley Nonprofit Law, Finance and Management Series)

Tax Planning and Compliance for Tax-Exempt Organizations: Rules, Checklists, and Procedures, Fourth Edition is an indispensable guide to navigating the complex maze of nonprofit tax rules and regulations. Along with clear, concise instructions for filing Forms 990 and other important IRS forms and documents, this practical guide covers the significant issues facing nonprofit organizations, including unrelated business income, private inurement, affiliations, and employment taxes. It also provides practical guidance on obtaining the tax exemption; reporting to boards, auditors, and the IRS; testing ongoing tax compliance; and managing lobbying expenditure. An essential, timesaving guide for accountants, lawyers, nonprofit executives and directors, consultants, and volunteers, this Fourth Edition offers: A supplemental, annual update to keep subscribers current on relevant changes in IRS forms, requirements, and related tax procedures. Easy-to-use checklists highlighting such critical concerns as tax-exempt eligibility, reporting to the IRS, and tax compliance. A variety of sample documents, including organizational bylaws, letters of application, and completed IRS forms. Helpful practice aids, such as a comparison chart summarizing the differences between public and private charitable organizations. Practical tips and suggestions for handling such critical situations as preparing for and surviving an IRS examination.

Tax Planning and Compliance for Tax-Exempt Organizations: Rules, Checklists, and Procedures, Fourth Edition is an indispensable guide to navigating the complex maze of nonprofit tax rules and regulations. Along with clear, concise instructions for filing Forms 990 and other important IRS forms and documents, this practical guide covers the significant issues facing nonprofit organizations, including unrelated business income, private inurement, affiliations, and employment taxes. It also provides practical guidance on obtaining the tax exemption; reporting to boards, auditors, and the IRS; testing ongoing tax compliance; and managing lobbying expenditure.

An essential, timesaving guide for accountants, lawyers, nonprofit executives and directors, consultants, and volunteers, this Fourth Edition offers:

• A supplemental, annual update to keep subscribers current on relevant changes in IRS forms, requirements, and related tax procedures.
• Easy-to-use checklists highlighting such critical concerns as tax-exempt eligibility, reporting to the IRS, and tax compliance.
• A variety of sample documents, including organizational bylaws, letters of application, and completed IRS forms.
• Helpful practice aids, such as a comparison chart summarizing the differences between public and private charitable organizations.
• Practical tips and suggestions for handling such critical situations as preparing for and surviving an IRS examination.

Pt. I. Qualifications Of Tax-exempt Organizations. Distinguishing Characteristics Of Tax-exempt Organizations ; Qualifying Under Irc Sec. 501(c)(3) ; Religious Organizations ; Charitable Organizations ; Educational, Scientific, And Literary Purposes And Prevention Of Cruelty To Children And Animals ; Civic Leagues And Local Associations Of Employees: Sec. 501(c)(4) ; Labor, Agricultural, And Horticultural Organizations: Sec. 501(c)(5) ; Business Leagues: Sec. 501(c)(6) ; Social Clubs: Sec. 501(c)(7) ; Instrumentalities Of Government And Title-holding Corporations ; Public Charities -- Pt. Ii. Standards For Private Foundations. Private Foundations: General Concepts ; Excise Tax Based On Investment Income: Irc Sec. 4940 ; Self-dealing: Irc Sec. 4941 ; Minimum Distribution Requirements: Irc Sec. 4942 ; Excess Business Holdings And Jeopardizing Investments: Irc Sec. 4943 And Sec. 4944 ; Taxable Expenditures: Irc Sec. 4945 -- Pt. Iii. Obtaining And Maintaining Tax-exempt Status. Irs Filing, Procedures, And Policies ; Maintaining Tax-exempt Status ; Private Inurement And Intermediate Sanctions ; Unrelated Business Income ; Relationships With Other Organizations And Businesses ; Electioneering And Lobbying ; Deductibility And Disclosures ; Employment Taxes ; Mergers, Bankruptcies, And Terminations. Jody Blazek. Includes Index. Includes Bibliographical References And Index. The Tax Exempt Organizations Division of the Internal Revenue Service (IRS) began to implement its reorganizational plan in October 1999 that is illustrated and described in supplemental materials for Chapter 28.