IRS Issues Electronic Filing Mandate for Form 990-EZ
On July 15, 2021, the IRS announced in an Exempt Organization update the electronic filing mandate for Form 990-EZ.
The Members Are Back … What About the Employees?
The unemployment rate for leisure and hospitality, 10.1 percent, is nearly twice the national average. However, there are Help Wanted signs everywhere and a bountiful number of job postings. How are private clubs responding to this challenge?
Can Not-for-Profits Use Gift Cards?
Not-for-profit organizations may be tempted to give gift cards to employees, volunteers, or those in need, but they need to be mindful of IRS de minimis fringe benefits rules, among other gift card considerations.
Webinar Recording: Are You Ready for ASC 842? Simplify Your Lease Accounting
As the recovery continues, many businesses and exempt organizations are taking another look at the new lease accounting standard and requirements. Learn how to simplify the process.
How Private Clubs Can Claim the Employee Retention Credit When Restrictions Are Lifted
Most state and local governments have been lifting COVID-19 restrictions, leaving club management wondering how and if they still qualify for the ERC, especially in the quarter that restrictions are lifted.
Change in Accounting for Certain Residential Rental Property
Certain types of residential rental property placed in service prior to 2018 can claim a shorter depreciation recovery period, potentially generating significant tax benefits. Affected taxpayers have until April 15, 2022 to file an amended return.
