Archive: Unrelated Business Income Tax

  • Clear Filters

How to Get Your ACA Tax Credit When You’re a Tax-Exempt Organization

Under the Affordable Care Act (ACA), a small employer can claim a portion of insurance premiums paid as a tax credit. But what do you do if you are a tax-exempt organization? Don’t worry! You can still claim the credit if your organization is eligible. Eligible tax-exempt organizations can claim up to 35% of premiums paid. […]
February 12, 2015

EFT Payment Requirement Threshold Reduced to $5,000

The District of Columbia requires business taxpayers to make tax payments over a certain threshold by electronic funds transfer (“EFT”).  The most recent guidance issued by the D.C. Office of Tax and Revenue regarding EFT payments says that business taxpayers must pay EFT for all tax payments exceeding $10,000.  However, over the last couple of […]
January 10, 2013
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  • Aronson

Other Ways Nonprofits Can Get In Trouble With The IRS

According to the Washington Post , roughly 8,400 nonprofits in the Washington D.C. area recently lost their tax-exempt status because of failure to file the necessary annual returns. The IRS has renewed their commitment to ensuring that nonprofits are complying with the rules and regulation that govern their tax-exempt status. Besides failure to file an annual […]
August 1, 2011

Where Do My Tax Dollars Go? – There’s an App for That!

On the heels of tax season, you may be wondering where your tax dollars are going. The White House launched an online tool that lets people see just that. As mentioned in the Hill blog, the White House’s Federal Tax Receipt tool allows taxpayers to enter their tax information and in return provides a breakdown of tax dollars […]
April 20, 2011

IRS Interim Report on Compliance in the Non-profit Sector

The Internal Revenue Service released an interim report on May 7, 2010, summarizing responses to compliance questionnaires sent to 400 public and private colleges and universities in 2008. Colleges and universities make up one of the largest nonprofit segments in terms of revenue and assets as well as the most complex organizations in the tax-exempt […]
June 8, 2010

Do the church’s auxiliary activities create a tax liability?

It’s dangerous relying on the assumption that all sources of income are exempt from federal income tax. Churches need to know the IRS code and how it applies to the various revenue generating activities of the church.  For example, if a church sells coffee, is this income subject to federal income tax?  The answer is, […]
January 18, 2010