IRS Launches Virtual Exempt Organizations Workshop

There's a new learning alternative for tax practitioners, financial professionals, and others who have an interest in the tax matters relating to not-for-profit entities. Effective immediately, the Internal Revenue Service has begun offering its popular Exempt Organizations Workshop in an online format on the Internet.

The five modules of the workshop, which take approximately three hours to complete, can be accessed at www.stayexempt.org . These modules cover the following topics:

  • Tax-exempt status - Learn what tax-exempt status is and what you need to know and do so that the organization won't lose its status.
  • Unrelated business income - Learn which activities qualify as unrelated business income and how this income should be reported.
  • Employment issues - Learn how different types of workers should be classified, what the tax withholding requirement are for those workers, and what types of payroll tax forms need to be filed.
  • Form 990 - Learn when to file a Form 990, how the form should be filled out, and what happens when a tax-exempt organization gets audited by the IRS.
  • Required disclosures - Learn which records of a tax-exempt organization need to be made available to the public and what type of information must be provided to donors so that they can take the appropriate tax deduction for their contributions.

Designed to appeal to small and mid-sized tax-exempt organizations, the workshop, "Stay Exempt – Tax Basics for 501(c)(3)s," is available at no charge. In particular, the IRS designed the workshop for organizations that have no tax experts on staff or that have limited access to outside tax advisors.

In addition to the workshop material, the Stay Exempt web site provides links to a variety of tax forms, including payroll tax forms, all of the Forms 990, and Form 1120-POL for political organizations. There are also links to many of the IRS publications, notices, and articles that might be of interest to exempt organizations.

The "Stay Exempt" course was originally launched in 2001 and has been offered by the IRS in a series of tax workshops across the country. The Stay Exempt web site is a product of the IRS’s office of Exempt Organizations.

You may like these other stories...

Cybersecurity is no longer the domain of an organization's IT staff. It's moved to the boardroom, and in a big way. Accountants and financial managers may have been thinking it's just the province of the tech...
Boehner addresses GOP priorities ahead of midterm electionsHouse Speaker John Boehner (R-OH) on Thursday delivered what amounted to closing arguments ahead of the November elections, laying out a list of Republican...
Former DOJ Tax Division head Kathryn Keneally joining DLA Piper in New YorkGlobal law firm DLA Piper announced on Thursday that Kathryn Keneally, the former head of the US Justice Department Tax Division, is joining the firm...

Already a member? log in here.

Upcoming CPE Webinars

Sep 24
In this jam-packed presentation Excel expert David Ringstrom, CPA will give you a crash-course in creating spreadsheet-based dashboards. A dashboard condenses large amounts of data into a compact space, yet enables the end user to easily drill down into details when warranted.
Sep 30
This webcast will include discussions of important issues in SSARS No. 19 and the current status of proposed changes by the Accounting and Review Services Committee in these statements.
Oct 21
Kristen Rampe will share how to speak and write more effectively by understanding your own and your audience's communication style.
Oct 23
Amber Setter will show the value of leadership assessments as tools for individual and organizational leadership development initiatives.