2022 Year-End Tax Update for Not-for-Profits
Author: Clark Nuber, Sara Elizabeth H. Jones, Frances Olson
| CPE Credit: |
2 hours for CPAs
2 hours Federal Tax Law Updates for EAs and OTRPs
2 hours Federal Tax Updates for CTEC |
2022 continued to be a challenging year for many not-for-profits as they navigated the COVID-19 pandemic. We will discuss some of the relief measures that are still available as well as the impact those programs have on the annual Form 990. We will also review recent IRS activity during the year and discuss what changes we see ahead for the not-for-profit sector.
Publication Date: December 2022
Designed For
CPAs, CFOs, auditors, bookkeepers, staff accountants and others working with not-for-profit entities.
Topics Covered
- IRS Issues
- Federal and State Regulatory Matters
- COVID Relief Funding Updates
- Updates on the Tax Forms (Forms 990, 990-PF, and 990-T)
- Other Year End Planning Opportunities and Reminders
Learning Objectives
- Describe how to optimize tax relief options available to nonprofit organizations
- Identify how to report the tax relief options on the applicable tax returns
- Recognize how to gain awareness of current IRS hot topics and ways to mitigate risk on the Form 990
- Recognize reminders on annual nonprofit compliance requirements
Level
Update
Instructional Method
Self-Study
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
A basic understanding of Not-for-profits.
Advance Preparation
None
