Mastering Nonprofit Tax Compliance: Reporting, Governance & Risk Management

Credit(s)

IRS CPE Credits: 1 Tax hour

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