Charitable Entities

Many tax-exempt organizations have until May 15 to file information returns; IRS warns against including personal data

Many tax-exempt organizations have until May 15 to file information returns; IRS warns against including personal data

 The Internal Revenue Service reminded certain tax-exempt organizations that Wednesday, May 15, 2019, is the filing deadline for Form 990-series information returns. These types of information returns are normally due on the 15th day of the fifth month after the end of an organization’s accounting period. For organizations operating on a calendar year, the deadline is May 15, 2019. 

Payments under state or local tax credit programs may be deductible as business expenses

Payments under state or local tax credit programs may be deductible as business expenses

Business taxpayers who make business-related payments to charities or government entities for which the taxpayers receive state or local tax credits can generally deduct the payments as business expenses, the Internal Revenue Service said today.

Charity Reveals Theft Of More Than A Million Dollars On Tax Return

Charity Reveals Theft Of More Than A Million Dollars On Tax Return

The American Bar Association (ABA) has revealed that a staff member had diverted about $1.3 million from the organization over a period of eight years. The theft was made public via the company’s annual tax form, a form 990.

Why Warren Buffett Just Donated $3.4 Billion

 Why Warren Buffett Just Donated $3.4 Billion

Warren Buffett is no stranger to wealth creation. He's also no stranger to wealth donation. Here's why Warren Buffett just donated $3.4 billion and how his philanthropy is shaping the world.