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How to Form and Sustain Sucessful Partnerships and Collaborations

January 31, 2018

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Thursday, Feb. 22, 2018 from 1-4 p.m. in #402 J.C. Penney Conference Center on the UMSL north campus. (Note, members of the Community Builders Network (CBN) will have an additional discussion/meeting from 4-5 p.m.)

The NPML Program is proud to partner with the Community Builders Network (CBN) for this presentation. Learn more about CBN at: http://www.communitybuildersstl.org/

Is your organization currently participating in partnerships with other organizations and/or groups? Are you planning to do so? Do you want the existing partnerships to be even more successful, or want to optimize the chances that future partnerships and collaborations will be so? This workshop is for current and aspiring nonprofit executives, managers, and board members who want to learn the most promising principles and practices to form and sustain successful partnerships and collaborations. It will also provide an opportunity to learn and share obstacles to, and strategies for success. The workshop will mix plenary presentation and discussion,

The Good, the Bad, and the Tax-Exempt Organization: The New Tax Bill’s Effect on Benefits and Compensation Offered by Institutions of Higher Education

January 23, 2018

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On December 22, President Trump signed “An Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018” (“Bill”) into law. The Bill was previously named the much-shorter “Tax Cuts and Jobs Act,” but was changed after a senator pointed out that the name violated an obscure Senate rule.

The new employee benefit and executive compensation provisions in the Bill affect both individuals and employers. The good news for colleges and universities is that the harshest employee benefit provisions directed at colleges and universities were not included in the final Bill. The bad news is that the executive compensation and fringe benefit changes directed at tax-exempt organizations are unfavorable to institutions of higher education.

THE GOOD: CHANGES EXCLUDED FROM THE FINAL BILL

The House passed a version of the Bill that would have repealed the exclusion from income for

Form 1023-EZ Revisions

January 19, 2018

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Form 1023-EZ Revisions

January 19, 2018

Authored by: Keith Kehrer

The IRS revised Form 1023-EZ, Streamlined Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code, and its instructions to help small charities apply for 501(c)(3) tax-exempt status. These revisions don’t change the Form 1023-EZ user fee. Here’s a summary of the revisions we made to the Form 1023-EZ.

  • A text box was added to Part III requesting a brief description of the organization’s mission or most significant activities. This change was recommended by the IRS National Taxpayer Advocate and is designed to provide a better understanding of the most significant activities that an organization engages in to further its exempt purposes.
  • Questions about annual gross receipts, total assets and public charity classification were added to the Form 1023-EZ. These questions are also on the Form 1023-EZ Eligibility Worksheet in the Instructions for Form 1023-EZ  that organizations must certify they have completed.
  • Question

4 Steps for Compliance with the New Disability Claims Procedures

Did you read our post “Work Now, Party Later,” advising you to do just that in response to the new Department of Labor rule governing disability claims procedures? If so—party on! If not, we hope you enjoyed your holiday celebrations, because it is now time to work.

On January 5, the Department of Labor announced its decision that the new disability claims procedure rules will take effect on April 1 of this year. Here is our suggested plan of attack for employers:

Step 1: Review our previous blog post to familiarize yourself with the new rules.

Step 2: Identify which of your plans offer disability benefits.

Remember to check both your ERISA qualified and nonqualified plans.

Step 3. Determine whether you need to amend your plan and/or SPD.

Under the new rules, participants who file a disability claim must receive an expanded explanation of their adverse benefit determination and a notice of their

IRS Office of Professional Responsibility webinar Jan. 17

January 5, 2018

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Topic: The Office of Professional Responsibility: What you need to Know about Practicing before the IRS (rebroadcast) Date: Wednesday January 17, 2018 Times: 2:00 p.m. Eastern; 1:00 p.m. Central; Noon Mountain; 11:00 a.m. Pacific Duration: Two hours

Webinar featuring OPR Director Stephen Whitlock with live Q&A at the end of the presentation

Topics include:

  • Regulations governing tax practice before the IRS (Circular 230, Rev. 6/2014)
  • Due diligence obligations of tax professionals
  • Overview of other key Circular 230 provisions
  • Practitioner responsibilities to their clients and to the tax administration system
  • Best practices for all tax professionals
  • Office of Professional Responsibility policies and procedures

Register for the webinar

Earn two CE credits in ethics

To receive a certificate of completion and CE credit, you must:

  • View the live presentation on 1/17/18 for at least 100 minutes from the start of the program.
  • To confirm your attendance and receive

The Effect of Tax Changes On Transfers from IRAs to Charity

The Tax Cuts and Jobs Act of 2017 (TCJA) eliminated all miscellaneous itemized deductions that are subject to the 2% floor, capped state and local taxes deduction at $10,000, and doubled the standard deduction for single persons to $12,000 and married couples to $24,000.  As a result of this triumvirate of changes, the individual taxpayer who is over age 70½ is now faced with new computation to make to determine how best to report deductions on the Form 1040 beginning this year and a new opportunity, if managed correctly, to maximize deductions and minimize taxable income.

IRC § 408(d)(8) permits anyone who is over age 70½ to transfer up to $100,000 per year from his/her IRA directly to public charities without reflecting the distribution in taxable income on the taxpayer’s Form 1040.  This technique allows the IRA owner to satisfy the taxpayer’s charitable giving and his/her Required Minimum Distribution (“RMD”)

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