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990s to Get Greater Scrutiny

April 7, 2015 Posted by Arthur Rieman in Form 990, IRS, Non-profits, Nonprofits, Uncategorized
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Late last month, the IRS announced enhanced electronic processing of Forms 990 that will result in their getting greater scrutiny to ferret out inconsistencies and missing information. According to IRS tax law specialist (and former Los Angeles-based colleague of The Law Firm for Non-Profits) Elaine Leichter, exempt organizations should fill out form 990 as completely …

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Form 990 Filing Site Hacked

Form 990 Filing just got more complicated. The online service where 990s are filed electronically has recently been hacked. The Urban Institute, which operates the online filing site for the annual returns nonprofits must file, announced that it “recently discovered that an unauthorized party or parties have gained access to the Form 990 Online and …

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IRS Targets Nonprofit Self-Declarers

It’s official. IRS targeting of nonprofit self-declarers will begin this year. Most organizations that qualify for federal tax-exemption other than non-church 501(c)(3) charities do not need to apply for tax-exemption. Whereas may do, they can simply self-declare that they are tax-exempt. When such nonprofit organizations complete their Forms 990 they need only identify their 501(c) …

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WATCH OUT! Phishing Remains a Threat for Taxpayers

February 4, 2015 Posted by Jessica Shofler in IRS, Scams, Taxes

The IRS is warning taxpayers to watch out for fake emails and websites trying to steal personal information that can be used to commit identify or financial theft. The IRS is listing this type of “phishing” scheme on its list of the top tax scams for the 2015 filing season, the typical time when scams …

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For-Profit College Converts to 501(c)(3)

January 16, 2015 Posted by Jessica Shofler in News, Nonprofits

In recent years we’ve converted a university and other 501(c)(3)s into for-profit corporations. But is the trend now reversing? Last year, the Law Firm for Non-Profits helped a for-profit private school become a nonprofit. And at the beginning of 2015, Herzing University, one of Wisconsin’s oldest and largest for-profit career colleges, was converted to 501(c)(3) …

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