Nonprofit organizations operate under unique tax rules and compliance obligations that require careful navigation to maintain their tax-exempt status. This comprehensive webinar, led by tax attorney and CPA Nick Preusch, provides an in-depth look at the federal and state regulations that govern nonprofit tax compliance. Participants will explore critical aspects of IRS Form 990 reporting, tax-exempt status maintenance, unrelated business income tax (UBIT), governance best practices, and common compliance pitfalls that could jeopardize tax-exempt status.
This session is designed for nonprofit executives, accountants, board members, and compliance officers who want to ensure their organizations adhere to tax laws while maximizing their tax-exempt benefits.
Webinar Objectives
By the end of this webinar, participants will be able to:
- Identify the key tax compliance requirements for nonprofit organizations.
- Understand the implications of unrelated business income tax (UBIT) and strategies to mitigate associated risks.
- Navigate essential IRS filings, including IRS Form 990.
- Address state tax obligations, including sales and property tax considerations.
- Implement best practices for governance and compliance to safeguard tax-exempt status.
Webinar Agenda
- Introduction to Nonprofit Tax Compliance
- Overview of federal and state regulatory requirements
- Importance of tax-exempt status and compliance pitfalls
- IRS Form 990 and Essential Filings
- Key components and common errors
- Reporting requirements and public disclosure
- Unrelated Business Income Tax (UBIT) Explained
- Defining UBIT and identifying taxable activities
- Strategies to minimize tax liabilities
- State Tax Obligations
- Understanding nonprofit sales tax exemptions
- Property tax considerations and compliance strategies
- Governance Best Practices for Compliance
- Internal policies to maintain tax-exempt status
- Risk management and financial oversight
- Q&A Session
- Addressing participant questions and real-world scenarios
Webinar Highlights
- Led by industry expert Nick Preusch, CPA, JD, LLM, MSA, with extensive experience in nonprofit tax law.
- Practical insights into compliance strategies and best practices.
- Clear explanations of IRS Form 990 reporting and UBIT rules.
- Guidance on navigating state tax obligations for nonprofits.
- Interactive Q&A session to address specific participant concerns.
Who Should Attend
- Accountants
- Tax Preparers
- EA’s
- CFOs / CEOs
- Financial Compliance Professionals
- Tax Attorneys
