Every Nonprofit's Tax Guide: How to Keep Your Tax-Exempt Status & Avoid IRS Problems

The Essential Tax Reference Book for Every Nonprofit

Dealing with the IRS and its rules is the price all nonprofits pay in return for the substantial tax benefits they receive. Failure to comply with nonprofit tax laws can lead to dire consequences—revocation of your tax-exempt status or the imposition of taxes and penalties on your nonprofit or even on your officers, directors, or employees personally.

Fortunately, most nonprofits can handle IRS compliance tasks themselves or with minimal help. Every nonprofit organization needs this essential, all-in-one tax reference book to avoid common tax problems and issues. Every Nonprofit's Tax Guide contains step-by-step guidance on complex tax laws and regulations governing nonprofits.

This book explains how to file an annual information return with the IRS, the difference between employees and independent contractors, proper recordkeeping, the deductibility of charitable contributions, conflicts of interest, UBIT, lobbying rules, and more. With this comprehensive and thorough overview of nonprofit tax rules, you and your nonprofit can avoid IRS issues.

Turn to Every Nonprofit's Tax Guide whenever you have questions about IRS rules or nonprofit compliance issues. From ongoing compliance requirements to avoiding losing your tax-exempt status, this updated edition covers everything nonprofits need to know to prevent a run-in with the IRS.

ISBN-13: 9781413331158

Media Type: Paperback(Eighth Edition)

Publisher: NOLO

Publication Date: 09-26-2023

Pages: 480

Product Dimensions: 7.00(w) x 9.00(h) x 1.25(d)

Stephen Fishman has dedicated his career as an attorney and author to writing useful, authoritative, and recognized guides on business, taxation, and intellectual property matters for small businesses, entrepreneurs, independent contractors, and freelancers. He is the author of 20 books and hundreds of articles, and has been quoted in The New York Times, Wall Street Journal, Chicago Tribune, and many other publications. Among his books are Every Landlord’s Tax Deduction Guide, Deduct It! Lower Your Small Business Taxes, and Working for Yourself: Law & Taxes for Independent Contractors, Freelancers & Gig Workers of All Types, published by Nolo. He is a two-time recipient of the Independent Book Publishers Association’s Benjamin Franklin Award.

Table of Contents

Introduction 1. Nonprofits and the IRS 2. Annual IRS Filings—The Form 990 3. Record Keeping and Accounting 4. Volunteers, Employees, and Independent Contractors 5. Charitable Giving—The Basics and Cash Donations 6. Property Donations 7. Excessive Compensation, Sweetheart Deals, and Other Ways to Get in Trouble With the IRS 8. Nonprofits That Make Money and UBIT 9. Lobbying and Political Campaign Activities 10. Help Beyond This Book Appendix Index