by Dave Moja | Sep 30, 2020 | Tax Tips |
ISSUE Where can your institution go for training on not-for-profit or exempt organization issues? The web provides many excellent options. SITUATION Marathon Bible College (MBC) is a private college exempt under Internal Revenue Code section 501(c)(3) and...
by Dave Moja | Sep 23, 2020 | Tax Tips |
ISSUE For most institutions with fiscal years, your next Form 990-T filing (if applicable) will be on the 2019 form. Head’s up, the 2020 Form 990-T (draft) is organized differently from what we have seen annually since 1951. SITUATION Denali Christian College (DCC)...
by Dave Moja | Sep 16, 2020 | Tax Tips |
ISSUE Annually, the IRS issued updated amounts and information with respect to per diem rates for employee business expenses under I.R.C. Section 274(d). The 2020-2021 information has been released in the form of IRS Notice 2020-71. SITUATION Troas Bible College...
by Dave Moja | Sep 9, 2020 | Tax Tips |
ISSUE The “Setting Every Community Up for Retirement Enhancement” Act of 2019 (SECURE Act) was signed into law on December 20, 2019. Forbes stated of this Act, “it is one of the most dynamic changes to retirement legislation since the Pension Protection Act of 2006,...
by Dave Moja | Sep 2, 2020 | Tax Tips |
ISSUE On August 8, 2020, the President of the United States issued a Presidential Memorandum directing the Secretary of the Treasury (Secretary) to use his authority pursuant to section 7508A of the Internal Revenue Code (Code) to defer the withholding, deposit, and...
