Not-for-Profit Tax Compliance Track

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Overview

8.0 Credits
ONLINE

The 8-hour CPE-eligible Tax Compliance bundle provides an overview of tax and compliance requirements that apply to tax-exempt, not-for-profit entities. This 5-course set covers topics such as activities that can jeopardize tax-exempt status, the public support test requirement, reconciling Form 990 to financial statements and much more.

Objectives

  • Differentiate between and recognize the basic compliance requirements of various types of tax-exempt organizations and recall the activities that a tax-exempt organizations should limit to protect its tax-exempt status
  • Identify the various federal and state filing requirements, including the IRS Form 990 series of returns, state sales tax exemptions and charitable registrations
  • Recall the structure and core components of Form 990 and related schedules and identify common adjustments needed to reconcile Form 990 to financial statements prepared in accordance with GAAP
  • Recall when a tax-exempt organization may be subject to unrelated business income taxes (UBIT) and indentify the applicable filing requirements
  • Recognize the unique compliance requirements and restrictions related to private foundations

Designed For

CPA and non-CPA staff at small to mid-sized firms who perform not-for-profit financial reporting engagements, including partners and managers at these firms who wish to enter the NFP industry and need a basic understanding of the sector. Board members and financial or non-financial staff members at not-for-profit organizations who are new to NFPs or who wish to expand on their understanding of the fundamental financial management issues that are unique to NFPs.
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