tax rules

This is a guest article provided by Cassidy Jakovickas, CPA at MBS Accountancy. Since being introduced in 2020, the Employee Retention Credit (ERC) has made headlines because of its lucrative potential…

Sales tax applies to the sale of tangible personal property, unless the sale is covered by a specific legal exemption or exclusion. Individuals, businesses, and groups that sell taxable merchandise…

According to the IRS, an unrelated business income is an activity that is unrelated to the organization’s goal, according to these three requirements: 1. It is a trade or business.…

Do nonprofits pay taxes? In short, the answer is both yes and no. For the most part, nonprofits and churches are exempt from the majority of taxes that for-profit businesses…

Any organization that meets the filing requirements is required to complete 1099s, regardless of tax-exempt status. Form 1099 is a required IRS report that documents the amount of certain types…

The holiday season is a popular fundraising season for charitable organizations. Nonprofit organizations often receive donations in different forms, such as volunteer hours, cash, pledges, or in-kind donations. To help…

You read that right. Aplos is now a trusted partner of the IRS, and is offering free eFiling of the Form 990-N (e-Postcard) for any small tax-exempt organizations. And just…

There are several different types of payroll taxes. Most employees or self-employed individuals pay taxes, either directly withheld through a payroll deduction or when filing their personal income tax return.…

Many people may have not even received their personal tax refund—or worse yet, just paid their tax bill—when the nonprofit tax form is due. It’s the dreaded Form 990 (or…