Non-profit officers face May deadline

Officers signing their non-profits' radically revised IRS Form 990 this year may want to read the small print on risking perjury by making false statements about filing at the state level for fund-raising and other activities, according to Martignetti Planned Giving Advisors, LLC, a New York-based consultancy group that advises non-profits.

"Charity registration and licensing throughout the 50 states has long been a regulatory morass that most non-profits avoided or ignored. Enforcement by the states has been nearly non-existent and many states don't have penalties for noncompliance," said Tony Martignetti, Esq., Managing Director of Martignetti Planned Giving Advisors. "This year the IRS stepped in and changed the game."

Martignetti noted that the new Form 990 — signed under penalty of perjury by an officer — makes it impossible to legally avoid state registrations because it calls for a list of the states in which a copy of the Form 990 is required to be filed.

"You can only answer that, however, after you research every state, figure out where to register, then search out whether those states require your 990," Martignetti said. "A question on Schedule G asks where 'the organization is registered or licensed to solicit funds or has been notified it is exempt from registration or licensing.' Again, a substantial and time-consuming amount of research is required to confidently respond."

Martignetti Planned Giving Advisors has addressed those issues with its newly published e-manual Charity Registration: State-by-State Guidelines for Compliance. Organized by state, the e-book is fully clickable and searchable. This is the only state-by-state manual available for the entire registration and licensing process, including filing forms.

You may like these other stories...

The IRS cautions freelancers and other self-employed individuals to stay on top of the deadlines for filing federal tax returns and the due dates for making payments. Miss just one, says the IRS, and it might exact a sizable...
Bipartisan Cooperation on Tax Refund FraudAs noted in Politico, Senators Wyden and Hatch have introduced a tax refund fraud bill. According to a summary from Senator Hatch's office, the bill would enhance "the...
Camp Hopes Estate Tax Will Be on Its Way OutAn article in Bloomberg said that Republicans are considering voting this year to repeal the U.S. estate tax, according to House Ways and Means Chairman Dave Camp (R.-Mich.). He...

Upcoming CPE Webinars

Aug 5
This webcast will focus on accounting and disclosure policies for various types of consolidations and business combinations.
Aug 20
In this session we'll review best practices for how to generate interest in your firm’s services.
Aug 21
Meet budgets and client expectations using project management skills geared toward the unique challenges faced by CPAs. Kristen Rampe will share how knowing the keys to structuring and executing a successful project can make the difference between success and repeated failures.
Aug 28
Excel spreadsheets are often akin to the American Wild West, where users can input anything they want into any worksheet cell. Excel's Data Validation feature allows you to restrict user inputs to selected choices, but there are many nuances to the feature that often trip users up.