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...
by Dave Moja | Aug 26, 2020 | Tax Tips |
ISSUE More than 1 million Individual Taxpayer Identification Numbers are set to expire at the end of 2020 as the Internal Revenue Service completes the expiration of ITINs assigned prior to 2013. The IRS continues to urge affected taxpayers to submit their renewal...
by Dave Moja | Aug 19, 2020 | Tax Tips |
ISSUE The IRS and the Security Summit continue to issue “Tips for Tax Professionals” (that contain good information for all of us). Today we look at Part 4 of the six-part series, “Working Virtually: Avoid Phishing Scams.” SITUATION Idaho Theological Seminary (ITS)...
