Tax-Exempt Status: Not-for-Profit Tax Compliance

Description

Because not-for-profits (NFPs) exist to fulfill a public need, they must comply with federal laws to obtain and maintain tax-exempt status.

This CPE course focuses on the tax compliance fundamentals for charitable organizations and gives insight into issues of the various types of other tax-exempt organizations in the NFP sector, such as business leagues, associations and fraternal organizations, among others. Topics covered include applying for exemption, eligibility to receive tax-deductible contributions, the public support test for public charities, and an overview of activities that may jeopardize an NFP’s tax-exempt status.

Learning Objectives
  1. When you complete this course, you will be able to:
  2. Recall what it means to have tax-exempt status
  3. Differentiate between and recognize the basic compliance requirements of various types of tax-exempt organizations, including charitable organizations
  4. Identify the IRS filing requirements for exempt organizations
  5. Recall the activities that a tax-exempt organization should limit to protect its tax-exempt status.
  6. Identify the criteria for qualifying as a 501(c)(3) charitable organization and those organizations that may qualify as publicly supported
  7. Recall how to perform the public support test calculation
Major Topics
  1. The meaning of tax-exempt status
  2. Exempt organizations in the NFP sector
  3. 501 (c)(3) charitable organizations
  4. Public charities
  5. Public support test requirement
  6. Private foundations
  7. Other tax-exempt entities
  8. Eligibility to receive tax-deductible contributions
  9. Life cycle of an exempt organization
  10. Applying for exemption
  11. Required filings
  12. Ongoing compliance requirements
Professional Area of Focus
Nonprofit / Not-For-Profit
Tax
CPE Field of Study
Taxes
2.0
Who Should Attend
CPAs, financial professionals and NFP board members who need an overview of tax-exempt status and basic compliance issues facing not-for-profits.
Course Level
Basic
Prerequisites
None
Register Now
When
Available 24/7
Location
Online
Total CPE Credits
2.0
Format
On-Demand

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$69.00
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Tax-Exempt Status: Not-for-Profit Tax Compliance


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