Self-Study

Not-for-Profit Tax Compliance Track

The 8-hour CPE-eligible Tax Compliance bundle provides an overview of tax and compliance requirements that apply to tax-exempt, not-for-profit entities. This 5-course set covers topics such as activities that can jeopardize tax-exempt status, the public support test requirement, reconciling Form 990 to financial statements and much more.

Objectives

  • Differentiate between and recognize the basic compliance requirements of various types of tax-exempt organizations and recall the activities that a tax-exempt organizations should limit to protect its tax-exempt status
  • Identify the various federal and state filing requirements, including the IRS Form 990 series of returns, state sales tax exemptions and charitable registrations
  • Recall the structure and core components of Form 990 and related schedules and identify common adjustments needed to reconcile Form 990 to financial statements prepared in accordance with GAAP
  • Recall when a tax-exempt organization may be subject to unrelated business income taxes (UBIT) and indentify the applicable filing requirements
  • Recognize the unique compliance requirements and restrictions related to private foundations

Additional Information

Designed For

CPA and non-CPA staff at small to mid-sized firms who perform not-for-profit financial reporting engagements, including partners and managers at these firms who wish to enter the NFP industry and need a basic understanding of the sector.

Board members and financial or non-financial staff members at not-for-profit organizations who are new to NFPs or who wish to expand on their understanding of the fundamental financial management issues that are unique to NFPs.

Vendor

American Institute of CPAs

Field of Study

Taxes

Course Number

17AIS0046

Level of Knowledge

Basic

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