Story Pitch: Top Tax Tips for Nonprofit Organizations

Nonprofit organizations may be exempt from paying income taxes, but many still have to fill out paperwork for the IRS. Returns for nonprofit organizations have very different requirements, qualifications, and deadlines than personal or for-profit business returns. This may leave many charitable and private foundations with the following questions:

 Who has to file a return?
 When is it due?
 Can it be e-filed?
 Do 990 returns have to be made available to the public?
 What's UBI and what are the consequences of having it?

The IRS has also made changes in 2011 to the criteria allowing certain tax-exempt organizations to file an e-Postcard rather than a 990 or 990EZ. Does your tax-exempt organization now qualify?

The Pennsylvania Institute of Certified Public Accountants (PICPA) has the answers to these questions and more. For more information, or to schedule an interview with a local CPA, contact Kathleen Miller at (215)872-6188 or kmiller@picpa.org, or Jacqueline Barnard at (267)675-6255 or jbarnard@picpa.org.