The Internal Revenue Service today announced an increase in the optional standard mileage rates for the final six months of 2011. The rate will increase to 55.5 cents a mile for all business miles driven from July 1, 2011, through Dec. 31, 2011. This is an increase of 4.5 cents from the 51 cent rate [...]
Categories: IRS, The Nonprofit Sector
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While nowhere near as significant as the 2008 revisions to the Form 990, the changes that the Internal Revenue Service has made to the 2010 version of the Form 990 are still noteworthy. Below is a selection of some of the more significant revisions to the 2010 Form 990: Parts of the Form 990 core [...]
A Couple of good nonprofit news items that I thought I would share: How Charities Deal with Fraud Do you know of a nonprofit organization whose funds were stolen by a “trusted” employee? What did they do after they found out? If they are like the nonprofits that this article refers to, probably not much. [...]
Categories: IRS, The Nonprofit Sector
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Tags: Contributions, Fraud
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Beyond the rate changes the IRS had a couple of other announcements: The 990 filing thresholds change with the new year and move to the permanent levels, the phase-in process for getting nonprofits ready to file the updated form 990 is over. Now organizations with $200,000 or more in gross income (or more that $500,000 [...]
Categories: IRS
| Tags: 990, 990EZ, 990N, Useful IRS Publications
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