by Dave Moja | Mar 31, 2021 | Tax Tips |
ISSUE: The Taxpayer First Act contains a provision which requires certain exempt organizations to file information and tax returns electronically for tax years beginning after 7/1/19 – this includes Form 990-T, Exempt Organization Business Income Tax Return. For...
by Dave Moja | Mar 24, 2021 | Tax Tips |
ISSUE: On March 19, 2021 the Department of Education (ED) issued several sets of HEERF guidance including “Higher Education Emergency Relief Fund (HEERF I, II, and III) Lost Revenue Frequently Asked Questions.” FAQs #3 and #4 seem to unearth an unsettling issue that...
by Dave Moja | Mar 17, 2021 | Tax Tips |
ISSUE: The Consolidated Appropriations Action, 2021 (CAA) – (enacted December 27, 2020) expanded the Employee Retention Credit to entities that received a PPP loan/grant and extended the credit through June 30, 2021. A few weeks ago we looked at the concept of...
by Dave Moja | Mar 7, 2021 | Tax Tips |
ISSUE: PPP Loans/Grants received differing treatments on audited financial statements for years ended in 2020. How should those amounts be reported on Form 990? SITUATION: Troas Bible College (TBC) is a private college exempt under Internal Revenue Code...
by Dave Moja | Feb 10, 2021 | Tax Tips |
ISSUE: The IRS has not updated their Employee Retention Credit (expanded and extended) FAQs. However, we eagerly await further guidance. Today we have Part II of a three-part series on the ERC. SITUATION: Marathon Bible College (MBC) is a private college...
by Dave Moja | Jan 28, 2021 | Tax Tips |
ISSUE: The Consolidated Appropriations Action, 2021 (CAA) – (enacted December 27, 2020) expanded the Employee Retention Credit to entities that received a PPP loan/grant and extended the credit through June 30, 2021. Today we have Part I of a three-part series...
