by Dave Moja | Nov 12, 2020 | Tax Tips |
ISSUE: On November 4, 2020, the Security Summit warned of a new text scam created by thieves that trick people into disclosing bank account information under the guise of receiving the $1,200 Economic Impact Payment. SITUATION: Marathon Bible College...
by Dave Moja | Nov 5, 2020 | Tax Tips |
ISSUE: This year, with so many organizations conducting virtual conferences and trade shows, the question arises as to whether these events might be considered unrelated business activities. SITUATION: Denali Christian College (DCC) is a private...
by Dave Moja | Oct 21, 2020 | Tax Tips |
ISSUE: Although in most cases, you cannot contact the IRS via email, they are working on some technologies… SITUATION: Marathon Bible College (MBC) is a private college exempt under Internal Revenue Code section 501(c)(3) and 170(b)(1)(A)(ii). ...
by Dave Moja | Oct 15, 2020 | Tax Tips |
ISSUE: Have you heard? For 2020, you will not use Form 1099-MISC for fees paid to independent/outside contractors for services as we’ve done in the past. There is a new Form 1099-NEC, Nonemployee Compensation. SITUATION: Idaho Theological Seminary (ITS) is a...
by Dave Moja | Oct 7, 2020 | Tax Tips |
ISSUE: Some institutions received funding through the Department of Education under the “HEERF” program (CARES Act Section 18004(a). Now, ED has released reporting requirements regarding all four types of these funds. SITUATION: Denali Christian College (DCC) is a...
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...
