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...
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...
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...
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...
The IRS has issued new guidance regarding tax-exempt groups’ obligation to provide the IRS with contributors’ identifying information. The new rule change will allow certain...
On June 21, 2018, the Financial Accounting Standards Board (FASB) has issued accounting standards update (ASU) No. 2018-08, Not-for-Profit Entities (Topic 958): Clarifying the Scope...
