IRS Resources for Nonprofits
Small to medium-size nonprofits have several responsibilities to maintain their tax-exempt status and may be unaware of some of the activities that can jeopardize it. The IRS has recently released many resources to help.
Government Contracting Basics: Five Types of Government Contracts Including Risks, Pros and Cons
Learn more about these five types of government contracts presented in detail - including what they entail, their risks, and the pros and cons of each.
Proactive Accounting and Technology Mean Better Outcomes for Construction Companies
Construction firm owners and project managers need better solutions to keep pace with a shifting, uncertain market. Automated, AI-powered software tools are powering future-forward construction accounting practices.
§179D Energy-Efficient Commercial Building Deduction Expanded to Benefit Non-Profit Organizations
For businesses contemplating a commercial project, the §179D deduction, a provision from the Inflation Reduction Act, is now available for any qualifying commercial energy-efficient building.
Why Do Nonprofits Need Financial Statement Services? Part 2: Federal Compliance
Federal compliance requirements like single audits require nonprofits to have financial statement services performed.
Accounting System Compliance Risk – Before and After Contract Award
Government contractors should perform an internal assessment of their compliance before an audit is performed and participate in the audit process to ensure a favorable result.
The Davis-Bacon Act and the Construction Industry
2022 proposed changes to the Davis-Bacon Act could have complex implications for federal construction contractors, who are already dealing with prevailing wage requirements from recent legislation.
Idle or Not Idle? That is the Question
The pandemic and the resulting changes in employee work routines and locations have created a potential cost-allowability issue that many government contractors have not previously encountered – potential idle facilities and/or idle capacity.
Why Do Nonprofits Need Financial Statement Services? Part 1: State and Grantor Compliance
Nonprofit compliance requirements vary from state to state. Private foundations, agencies, and other grantors often have their own requirements, too. It’s important for organizations to understand what these are before accepting any funding.
New Form 990-N Sign-In Process
Starting August 1, 2022, Form 990-N filers – small nonprofits – are required to use a more streamlined, modern online filing system. ID.me, the IRS’s ID authentication system, will be required for new users.