Walk through essential compliance regulations and identify pitfalls that can jeopardize an organization's tax-exempt status.
Many organizations lack a clear understanding of the rules and responsibilities associated with acquiring, maintaining and terminating tax-exempt status. Every year, hundreds of nonprofit organizations face swift penalties and possible revocation because of lack of knowledge concerning compliance issues. This topic will help practitioners provide practical guidance to their clients regarding rules and responsibilities governing tax-exempt organizations.
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Why Lorman?
Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Applying for Tax-Exempt Status
- Governing Entity Documents and Amendments
- State Level Nonprofit Classification (No Tax Exemption)
- Exempt Purpose and Dissolution Clause
- Applying for EIN (Employer Identification Number)
- Public Charity vs. Private Foundation
Compliance Before Exemption Is Recognized
- Filing Returns - Form 990, Form 990-EZ and Form 990-N
- Receiving Contributions
- State Solicitation Statutes
Maintaining Tax-Exempt Status After Exemption Is Recognized
- Mandatory Annual Returns (Penalties and Revocation)
- Unrelated Business Income
- Activities That Jeopardize Tax-Exempt Status
- Record Keeping and Required Public Disclosures
- Employee Related Issues (Withholding Requirements, FICA vs. FUTA)
Terminating a Tax-Exempt Organization
- Winding Down
- Notice Requirements
- Distribution of Assets
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Why Lorman?
Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Webinar
This course was last revised on July 17, 2019.
Call 1-866-352-9540 for further credit information.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
MP3 Download
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
More Program Information
Why Lorman?
Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Debra L. Scott
The Scott Practice, LLC
- Lawyer and principal of the Atlanta-based law firm, The Scott Practice, LLC, established in 2000
- As an estates and trusts lawyer she works with special needs families on a range of issues, including securing public benefits through proper estate planning techniques
- J.D. degree, Syracuse University College of Law; M.A. degree in public health, Emory University
More Program Information
Why Lorman?
Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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