To be exempt from tax as a social welfare organization described in Section 501(c)(4) of the Internal Revenue Code (IRC), an organization must not be organized for profit. It must...
Posted by Elliot Kravitz, ATP on 05/30/2021
Getting a new car is an interesting process. New seats, new windows, the smell of a clean car - what's not to like about it? Buying a new car usually means getting rid of an existing...
Posted by Taxes Made EZ Inc on 03/28/2021
On January 19, the Treasury Department and the IRS released a final rule to help tax-exempt nonprofits comply with excise tax which is considered excessive under Section 4960 of the...
Posted by Unifirst Financial & Tax Consultants on 03/15/2021
IRC Code, Section 501(c) sheds light explicitly on the critical requirement for a tax-exempt organization. In applying for tax exemptions, firms need first to apply to be recognized...
Posted by Karen Munoz, EA on 02/28/2021
What is a private activity bond (PAB)?PABs are tax-exempt bonds distributed by or on behalf of a state or local authority to provide special financial benefits for eligible projects....
Posted by Karen Munoz, EA on 02/23/2021
Congress retroactively repealed the 2017 Tax Act that imposed income taxes on unrelated business income tax on non-profits that provided employees with qualifying transportation benefits....
Posted by Income Taxes and Bookkeeping LLC on 11/18/2020
Donating to a charity does not only help advance a cause that you have passion for, it also helps bring down your tax bill. This article explores everything you need to know about...
Posted by Carmen Garcia on 07/17/2021
