Certain section 501(c)(6) organizations are now eligible for Paycheck Protection Program (PPP) loans under the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act...Read More
The PATH Act (Protecting Americans from Tax Hikes Act) required that payments for services in 2017 be reported on Form 1099-MISC by January 31 of...Read More
The U.S. Department of Labor (DOL) proposed a rule on September 30, 2020 that would make labor unions provide more information in their annual financial...Read More
On March 6, 2020, the Office of Labor-Management Standards (OLMS) published a final rule establishing a Form T–1, Trust Annual Report that requires annual reporting...Read More
Rev. Proc. 2020-08 reflects updated procedures for submission On Jan. 31, 2020, the Internal Revenue Service (IRS) released the revised electronic Form 1023, Application for...Read More
The optional standard mileage rates for business use of a vehicle will decrease slightly in 2020 after increasing significantly in 2019, the IRS announced on...Read More
In 2018, the Internal Revenue Service (IRS) made drastic changes to Form 1040, U.S. Individual Income Tax Return. It eliminated 50 lines on the main...Read More
On July 1, 2019 President Donald Trump signed the Taxpayer First Act, which requires tax-exempt organizations to file all Form 990 series returns electronically, which...Read More
Tax-exempt organizations no longer are required to submit an affirmation letter of federal exempt status to the District of Columbia Office of Tax and Revenue...Read More
