Seminar Follow Up For those who were not able to attend, here is the recording for our Thursday, February 18, webinar on the Employee Retention Credit, Post Consolidation Appropriations Act for TY2021. This is the link to the IRS Form 7200 for claiming the ERC for TY2020. The slides from Sarah's presentation are on our website along with Two Sample ERC Qualified Wages Worksheets. Questions from yesterday's seminar are addressed in our updated Q&A. Please contact Sarah if you would like further assistance, review or if you would like to use Sarah's ERC excel worksheet. Reminders: We've added resources [...]

Form 990 Reminder: Every 501(c) must file a 990 every year Dear Scholz Nonprofit Law clients, current and past, and friends in the community: Thank you for the opportunity to work with you. We greatly appreciate the work you do in the community and the trust you place in us to assist you. We look forward to being able to serve you in 2021. This is a reminder that all nonprofits have an obligation to submit various reports to the IRS and to the state each year. Below is an explanation of these key tax filings and their [...]

In case you hadn't noticed (ha), there's this important thing called an election coming up. I want to make sure you know the ways 501c3 organizations can be involved in getting people to vote. That's not "political" or lobbying-- just straight-up education and charitable work to ensure that everyone has a voice in our democracy and the election is robust, fair, and serves the public interest. Join Scholz Nonprofit Law this Thursday, September 17th at Noon for a webinar: Election 2020: 501c3s Have a Role REGISTER HERE. We will review key do's and don'ts and answer questions. Send me [...]

All tax-exempt organizations, including 501(c)(3), 501(c)(4) and 501(c)(6) organizations, must file some variation of Form 990 with the IRS. As a reminder, if your organization fails to file Form 990 for three consecutive years, your tax-exempt status will be revoked and your organization will have to reapply for tax-exempt status. If your organization’s fiscal year is the calendar year, your organization is required to file some version of the Form 990 by July 15, 2020 (which is the extended date because of COVID) or seek an extension. If your total revenues were $50,000 or less, you may file Form 990-N. Form 990-N, [...]