How likely is it that your nonprofit will get audited? What do nonprofit audits entail? Read on to find out everything you need to know.
Avoiding IRS Tax Audits of Your Nonprofit
By far the least welcome interaction your nonprofit can have with the IRS is an audit -- the process where an IRS employee examines your nonprofit's tax returns, books, and records.
IRS Investigation of Colleges and Universities Reveals UBIT and Compensation Issues
The IRS recently announced completion of a five-year long compliance project involving tax-exempt colleges and universities.
When Is a Nonprofit Required to Have an Independent Audit?
An independent audit is not the same as an IRS audit.
Do Nonprofits Really Need to Worry About IRS Audits?
There have been many stories in the news lately about certain types of nonprofits (social welfare organizations) being targeted for IRS audits due to their conservative political orientation.
Reporting Excess Benefit Transactions to the IRS
A nonprofit engages in an "excess benefit transaction" when it enters into a transaction with a "disqualified person"--such as an officer, director, or key employee--that unreasonably benefits the
How to Avoid IRS Intermediate Sanctions for Insiders
The IRS is very serious about preventing excessive compensation of nonprofit employees and officers, sweetheart deals with insiders, personal use of nonprofit assets, and other abuses,