NEWS

Nonprofit Organization Updates

Qualified Transportation Fringe Benefits Tax Repealed
January 3, 2020

On December 20, 2019, the federal government spending package titled, the Further Consolidated Appropriations Act, 2020 (the Act) was signed into law.  The Act included a provision repealing Section 512 (a)(7), which imposed an unrelated business income tax on qualified transportation fringe benefits for nonprofit organizations.

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What to Do if Your Nonprofit Receives and IRS Audit Letter
December 11, 2019

The IRS’s staffing shortages have been well publicized and audits of individuals have decreased in the past several years. But it’s a mistake to assume that the agency has stopped scrutinizing not-for-profits and conducting audits when it deems necessary. If your organization receives an audit letter, you need to know what the process involves and how you can help resolve it as quickly as possible.

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Nonprofit Organization Deadlines

Don’t miss these important deadlines for your NFP organization
  • December 31 year end
    • Form 990 and PC
      • Due May 15
    • Massachusetts Uniform Financial Report (UFR)
      • Due May 15
    • Data Collection Form
      • Due the earlier of 30 days after your auditors’ report is issued or 9 months after your fiscal year end
  • June 30 fiscal year end
    • Form 990 and PC
      • Due November 15
    • Massachusetts Uniform Financial Report (UFR)
      • Due November 15
    • Data Collection Form
      • Due the earlier of 30 days after your auditors’ report is issued or 9 months after your fiscal year end
  • September 30 fiscal year end
    • Form 990 and PC
      • Due February 15
    • Massachusetts Uniform Financial Report (UFR)
      • Due February 15
    • Data Collection Form
      • Due the earlier of 30 days after your auditors’ report is issued or 9 months after your fiscal year end