CPE Packages (Incl. Ethics) for Multiple States and Qualifications Available. Price $4/credit - CLICK HERE to view.

Maintaining Tax Exemption for a Non-Profit Entity

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Louis Michelson

Louis E Michelson, A Professional Corporation

Tuesday, June 15, 2021 | 12:00 PM EDT

  • AFSP
  • CPA (US)
  • EA
  • Tax Preparer
  • CTEC

2 Credits

$20

Subject Area

Taxes

Webinar Qualifies For

2 CPE credit of Taxes for all CPAs

2 CE credit of Federal Tax Related Matters for Enrolled Agents ( IRS Approved : GEHNZ ) (Approval No. GEHNZ-T-00562-21-O)

2 CE credit of Federal Tax Subjects for California Tax Professionals (CTEC Approved - 6273) (Approval No. 6273-CE-0540)

2 CE credit of Annual Filing Season program (AFSP)( IRS Approved : GEHNZ ) (Approval No. GEHNZ-T-00562-21-O)

2 CE credit of Federal Tax Related Matters for Oregon Tax Preparers (Approval No. GEHNZ-T-00562-21-O)

2 CE credit of Federal Tax for Maryland Tax Preparers (Approval No. GEHNZ-T-00562-21-O)

2 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Course Description

This online continuing education course reviews issues to be considered to maintain tax-exemption for a non-profit entity, including changes in its activities and support, the intermediate sanction rules for public charities and rules specific to private foundations, disclosure and substantiation requirements, common mistakes in annual reporting, private inurement, compensation planning and intermediate sanctions, triggers for compensation checks on executive compensation, California exemption, causes for loss of exemption and restoring it after loss; ongoing state compliance with other state agencies including the Attorney General and Secretary of State.

This Online CPE Webinar will discuss the following key topics:

1.   Changes in Activity, Disclosure and Substantiation

  • Public charity versus private foundation status
  • Disclosure requirements
  • Substantiation requirements
  • Lobbying and Political Campaigns

2.   Intermediate Sanctions and Compensation

  • Disqualified persons and deemed disqualified persons
  • Rebuttable presumption of Reasonableness, Comparability Data
  • Compensation Initiative and Employment Tax Audits
  • Compensation Planning

3.   California and Other State Matters

  • Securing state tax exemption
  • Suspended Exempt Entities and Consequences 
  • Revocation and reinstating exemption
  • California Secretary of State and Attorney General

Learning Objectives

  • To identify disqualified persons
  • To discuss practical suggestions regarding disclosure requirements
  • To determine the substantiation requirements
  • To recognize common mistakes on annual tax returns
  • To identify deemed disqualified persons and appropriate compensation planning
  • To recognize the three elements for a rebuttable presumption of reasonableness
  • To identify what Form 990 reporting triggers IRS inquiries
  • To recognize causes for suspension for exempt entities in California and consequences

Who Should Attend?

  • California Registered Tax Professional
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Maryland Tax Preparers
  • Non Profit Pros
  • Nonprofit Board Members
  • NonProfit CEOs
  • Nonprofit Executive Directors
  • Nonprofit Professionals
  • Oregon Tax Preparers
  • Tax Director (Industry)
  • Tax Firm
  • Tax Practitioners
  • Tax Preparer
  • Tax Pros
  • Young CPA

Testimonial

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