Non-Profit Organizations Publications

Increase in Safe Harbor Expense Threshold Creates Opportunity for Small and Medium-Sized Businesses

With the release of Notice 2015-82, the IRS has provided a valuable end of year tax-planning tool to businesses looking to expense tangible property purchases. The tangible property regulations have been in effect since January 1, 2014. The regulations included a safe harbor under which businesses may expense, rather than capitalize, certain tangible property. One…

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Is Your Estate Plan Jeopardizing your S-Corporation?

Many of us are familiar with the basic S-corporation mantra – avoid the so-called double taxation of regular C-corporations, all while maintaining the limited liability and practical advantages of a corporation. While many business owners engage in detailed planning to ensure compliance with Subchapter S of the Internal Revenue Code in order to maximize the…

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IRS Form 1023-EZ: Nonprofits Rejoice – but is the Potential for Fraud Real?

On July 1, 2014, the Internal Revenue Service (IRS) released Form 1023-EZ, a streamlined alternative to the venerable IRS standard-bearer in the world of nonprofits – Form 1023 Application for Recognition of Exemption Under Section 501(c)(3). The original Form 1023, weighing in at a robust 26 pages (including 7 schedules), can be burdensome, especially for…

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