The IRS has overhauled the 2020 Form 990T “Exempt Organization Business Income Tax Return” and created a new Schedule A “Unrelated Business Taxable Income From an Unrelated Trade or Business” to allow reporting of separate unrelated business activities.
Will the public change the way it makes donations as a result of the Job Cuts and Jobs Act? And will your non-profit be impacted by those behavioral changes? These questions are being asked by non-profit leaders across the country. There is a fear that a decrease in charitable giving will cause operating shortfalls and jeopardize your public charity status. One way to maximize your organization’s public support, no matter how charitable giving changes, is to make sure you are not in jeopardy of losing your charitable status