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Higher Education, Not-for-Profit, Tax
Joseph Krebs | 6.12.2018

Congressional Research Service Releases Tax Policy Options on College Endowments

Educational institution endowments have come under attack from all sides lately. Whether it is the new excise tax on net investment income, a Congressman

Higher Education, Internal Revenue Service, Not-for-Profit, Tax
Elena Faurie | 5.24.2018

New Revenue Procedure for Contributors Making Donation to Tax-Exempt Organizations

New Revenue Procedure 2018-32 modifies, consolidates and supersedes Rev. Proc. 81-6, Rev Proc. 81-7, Rev. Proc. 89-23 and Rev. Proc. 2011-33 in providing

Benefits, Higher Education, Not-for-Profit, Tax Reform
| 5.10.2018

IRS Clarifies Treatment of Transportation Fringe Benefits for Tax-Exempt Employers

The IRS recently released subsequent guidance on an issue we discussed in a previous Our Thoughts On article (see here). In late March, the agency updated

Benefits, Higher Education, Not-for-Profit, Tax Reform
| 5.10.2018

IRS Releases FAQs on Family Medical Leave Act Credit

The IRS recently posted to its website FAQs regarding the new Internal Revenue Code Section 45S, "Employer Credit for Paid Family and Medical Leave"

Audit, Not-for-Profit
Schneider Downs Professional | 4.11.2018

Museums to Receive Clarity on Accounting for Collections

The Financial Accounting Standards Board (FASB) will soon release for public comment a proposal revising its guidance on accounting for historical collections.

Not-for-Profit, Tax, Tax Reform
Gene Logan | 2.22.2018

Siloing of Unrelated Business Income Is Creating Many Questions for Tax-Exempt Organizations

“Siloing” is the term being used to describe the 2017 tax reform change that requires exempt organizations to separate each of their unrelated

Internal Revenue Service, Not-for-Profit, Tax
Michael Vizzini | 2.12.2018

Easing the Burden on Exempt Organizations' Application for Exemption

The Internal Revenue Service (“IRS”) recently issued Revenue Procedure 2018-15, stating that it will no longer require a new exemption application

Audit, Not-for-Profit
Sarah Piot | 1.31.2018

Pennsylvania Nonprofit Alert: State Raises Audit Requirement Threshold

On December 22, 2017, Governor Tom Wolf signed two legislative measures that amend the Pennsylvania Solicitation of Funds for Charitable Purposes Act.

Internal Revenue Service, Not-for-Profit, Tax
Maggie Welsh | 1.10.2018

On Your Marks, Get Set, Go! Tax Season Begins

It’s that time of year again – the IRS issued a statement on January 4 announcing the official beginning of tax season on Monday, January 29,

Not-for-Profit, Tax, Tax Reform
Gene Logan | 1.3.2018

Tax Reform Changes to Charitable Deduction

As promised, the House-Senate Conference Committee on the Tax Cuts and Jobs Act has preserved the deduction for charitable contributions. The new law actually

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