2020 Not-for-Profit Tax Update
Listen in as our not-for-profit experts discuss how the following tax topics as they apply to Not-for-Profit businesses and organizations
Withum’s not-for-profit weekly virtual learning series: Navigating New Roads.
- Extended dates for filing Forms 990, 990-EZ, 990-PF and
990-T - Non-itemizers contribution deduction for 2020 and increased 2020 itemizer individual and corporate contribution deduction limitations
- Rescinding of the IRC Section 512(a)(7) unrelated business income tax on parking paid for or provided to employees
- Proposed regulations relating to the “siloing” of income from different unrelated business income-generating activities which lessen the ability to offset unrelated business income losses against positive unrelated business income
- The new single excise tax rate for private foundation net investment income
- Potential proposed regulations relating to Donor Advised Funds (DAFs) which would limit the ability for gifts from these funds to be considered public support to the organization receiving the gift
- New proposed regulation on IRC Section 4960, the excise tax on excess tax on compensation over $1,000,000
View this on-demand webinar to:
- Analyze the new non-itemizer deduction rule new contribution deduction limitations
- Determine the process for UBIT refunds
- Explain the limitations on offsetting UBIT losses against positive UBIT income
- Identify issues from potential DAF proposed regulations and new IRC Section 4960 proposed regulations
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