Maintaining Tax Exemption: Not-for-Profit Tax Compliance

Overview

This video-based CPE course is included in Not-for-Profit Certificate II. It can be purchased individually or as a part of the Not-for-Profit Certificate II - Tax Compliance track.

Exemption from federal income taxes is one of the privileges enjoyed by the vast majority of not-for-profits (NFPs). For charitable organizations, tax-exempt status also provides eligibility to receive tax-deductible contributions from donors. Failure to comply with federal laws and IRS reporting requirements can result in significant penalties and excise taxes at best, and loss of tax-exempt status at worst.

In this CPE course, you will learn about the organizational and operational requirements to establish and maintain tax exemption. Through real world examples, you will understand the more important areas where tax-exemption can be threatened. Also discussed are activities and transactions that NFPs should limit or avoid to protect their tax-exempt status.

Highlights

Key Topics

• Establishing and protecting tax exemption
• Tools to verify tax exemption
• Protecting tax exemption
• Organizational and operational issues
• Recordkeeping and substantiation
• Uncertain tax positions
• Lobbying and political activities
• Private inurement and benefit
• Excess benefit transactions
• Reasonable compensation
• Excise taxes and penalties
• Revocation of exempt status

Prerequisites

Experience working in or with the not-for profit industry

Objectives

Learning Outcomes

• Distinguish between organizational and operational requirements for charitable and other exempt organizations
• Determine important areas where tax-exemption can be threatened
• Identify situations that could result in IRS revocation of an organization's tax-exempt status