Louis E. Michelson, A Professional Corporation

Providing Legal and Tax Advisory Services to Nonprofit Organizations

Entries Tagged as 'Form 990'

Legislative Alert Assembly Bill 2855 Charitable Solicitations: Financial Disclosures

April 8th, 2016 · Comments Off on Legislative Alert Assembly Bill 2855 Charitable Solicitations: Financial Disclosures · AB 2855, charitable solicitations, financial disclosures, Form 990

AB 2855 is a bill that adds Section 17510.86 to the California Business and Professions Code which will impose financial disclosure requirements on nonprofits and significant enforcement provisions. The bill has (a) requirements related to a charity’s web site and (b) a required disclosure statement. Web Site Requirements. This bill would require an Internet web […]

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Credit for New UCLA Extension Class: Nonprofit Organizations: Compliance and Governance

September 22nd, 2015 · Comments Off on Credit for New UCLA Extension Class: Nonprofit Organizations: Compliance and Governance · California Exempt Status, Federal Income Taxes, Form 990, Governance, Loss of Tax-Exempt Staus, nonprofit checklist, policies and procedures, state compliance, tax exemption

UCLA Extension can offer students of this class with credit as follows: ● CPAs will receive attendees36 hours of CPE credit ● Attorneys will receive 34 hours of MCLE credit, including 1 hour of Ethics ● Class credit towards a UCLA Extension certificate in accounting ● Class credit towards a UCLA Extension certificate in tax. […]

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Forming and Representing Nonprofit 501(c)(3) Organizations Seminar

March 30th, 2015 · Comments Off on Forming and Representing Nonprofit 501(c)(3) Organizations Seminar · California Exempt Status, California nonprofit law, Form 990, Governance

Please join us as we discuss the process of forming a Nonprofit Corporation in the state of California. This seminar will cover the following topics: ● What is a Nonprofit Corporation? ● Formation of a California Nonprofit ● Applying for Tax-Exemption, Federal (Form 1023 and 1023-EZ) ● Applying for Tax-Exemption, California (Form 3500 or 3500A) […]

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Governance 101: Providing Form 990 to Board Members

July 12th, 2012 · Comments Off on Governance 101: Providing Form 990 to Board Members · Form 990, Governance

Pop quiz on governance for nonprofits: Question 1.  Are each of your Board members provided with a copy of the final Form 990 before that form is filed with the IRS? Question 2.  What if the nonprofit notifies each of the Board members that the Form 990 is available on request.  Does this procedure accomplish […]

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Reporting Changes to the IRS

April 21st, 2012 · Comments Off on Reporting Changes to the IRS · Federal Income Taxes, Form 990

When must a tax-exempt organization report changes to the IRS.  The events that trigger a reporting requirement to the IRS are changes in an organization’s name or address and structural and operational changes. If an organization files an annual return, it must report the changes on its return. If it is not required to file […]

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New IRS Form 8940 for Miscellaneous Determination Requests

August 21st, 2011 · Comments Off on New IRS Form 8940 for Miscellaneous Determination Requests · Form 990, Loss of Tax-Exempt Staus, Private foundations

The IRS has released a new form that tax-exempt organizations will use to request determinations (other than initial exemption applications) about their tax-exempt status. In addition to foundation status issues, organizations will use Form 8940, Request for Miscellaneous Determination, to obtain advance approval of certain activities and exemption from Form 990 filing requirements. The simple […]

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IRS FAQs on Governance – Form 990, Part VI

July 15th, 2011 · Comments Off on IRS FAQs on Governance – Form 990, Part VI · Form 990, Governance

The IRS updated their Frequently Asked Questions and Tips (August 3, 2012) regarding Form 990, Part VI – Governance, Management and Disclosure.  Some of the FAQs have earlier posting dates.  The following are some of the questions included: Are all organizations required to complete Part VI and answer all of its questions regarding an organization’s […]

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New Useful Resource: Form 990 Policy Series Memoranda Now Available Online

May 17th, 2011 · Comments Off on New Useful Resource: Form 990 Policy Series Memoranda Now Available Online · Federal Income Taxes, Form 990, Governance

The Form 990 Policy Series Memoranda, developed to respond to governance questions in the new Form 990, are now available online!  They can be accessed, without charge, at the web site of Public Counsel, the nation’s largest pro bono law firm.  See http://www.publiccounsel.org/useful_materials?id=0025 or go to publiccounsel.org, click on Practice Areas, then Community Development, then […]

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