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Live Webinar

90-minute live streaming program
  • July 17
  • 1:00 - 2:30 pm EST

Advising 501(c)(3) Tax Exempt Public Charities on Staying In Compliance

July 17

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.

Learning Objectives

  • You will be able to describe the necessary steps to achieve tax-exempt status.
  • You will be able to explain the right steps to achieve tax compliance over organization’s life-cycle.
  • You will be able to identify key pitfalls that jeopardize tax-exempt status.
  • You will be able to discuss essential rules and responsibilities governing 501(c)(3) organizations.

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Why Lorman?

Over 32 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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More Program Information

Why Lorman?

Over 32 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

Live Webinar Registration

  • AIPB 1.5
     
  • This program is acceptable for 1.5 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
     
  • CPE 1.8 including Business Law 1.8
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.8 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Business Law for 1.8 hours. Prerequisite: basic knowledge of nonprofit governance issues. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     
  • Lorman Business Center, Inc. is a registered provider for CPA CPE through the State Education Department of New York, Sponsor number: 000640. The following course will carry the subject area of Specialized Knowledge and Applications for 1.5 hours.
     

Who should attend?

This live webinar is designed for accountants, executive directors, officers, controllers, CFOs, tax professionals, bookkeepers, presidents and vice presidents.

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Why Lorman?

Over 32 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

Debra L. Scott

The Scott Practice, LLC

  • Attorney and principal consultant for SP Consulting, a division of the Atlanta based law firm, The Scott Practice, LLC
  • Prior to establishing her firm, she was a relationship manager for the private bank at Bank of America; as a relationship manager, she was responsible for managing Bank of America’s first donor-advised fund
  • In the year 2000, she established The Scott Practice, LLC where she represents clients concerning fiduciary disputes and estates & trusts matters
  • In 2014, she introduced a new nonprofit consulting division to the firm called SP Consulting
  • As a principal consultant, she has advised and lectured regional and national nonprofit organizations such as The Emory Clinic, Nature Abounds, the Georgia Independent School Association, the Cobb Community Foundation, the Small Museum Association, and the RETT Syndrome Association
  • J.D. degree, Syracuse University College of Law; M.A. degree in public health, Emory University
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Why Lorman?

Over 32 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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Product ID: 405841
Published 2019
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