COVID-19-Related Relief Is Signed Into Law
On December 27, President Trump signed the Consolidated Appropriations Act of 2021 (CAA), which provides pandemic relief, as well as other tax and health-related provisions. The CAA contains the COVID-Related Tax Relief Act of 2020 (COVIDTRA), as well as a government funding law. Here are some of the highlights. Direct payments to certain individuals. The…
When Nonprofit Organizations Should Return Donations
A donor makes a cash contribution to a nonprofit community health organization. The donor itemizes income tax deductions and meets the IRS’s substantiation requirements. So he’s entitled to take a deduction for the donation. The nonprofit is happy to accept his gift and uses the money to further its charitable mission. Everyone wins — that…
Congress Passes Year End Funding and Pandemic Aid Package
The bill includes tax deductibility of PPP expenses and new round of PPP loans
Dealing with the Patchwork of State Requirements for Nonprofits
Not-for-profits are held to strict reporting standards. For instance, your organization is required to annually file Form 990 with the IRS to preserve your tax–exempt status, among other requirements. But reporting isn’t limited to the federal level. Most states have their own laws regulating charitable solicitations. Registration requirements are designed to increase transparency and improve…
Will Your Work-From-Home Policy Continue, Post-Covid-19?
Earlier this year, employers were polled by Mercer, a global benefits consulting service, to give their preliminary thinking about flexible work arrangements in a post-pandemic environment. Their answers suggest that, in some cases, companies and nonprofit organizations with employees working remotely have become more receptive to these arrangements. Here are some quick survey highlights: 68%…
Future-Ready your Accounting Department with a Strategic Move to the Cloud
By Yevgeniy Sukhenko, Senior Controller, Outsourced Accounting & Advisory Services The COVID-19 pandemic only accelerated the inevitable for accounting departments around the globe. In March 2020, businesses and nonprofits moved to the cloud quickly and abruptly, whether the organization was ready or not. The days of operating an accounting department with only software housed on…
GRF’s Jackie Cardello is Interviewed by Inside Public Accounting
Ms. Cardello tackled several questions about her role as managing partner for Inside Public Accounting.
Keep Employees Safe From COVID-19 Without Discrimination
How can an employer keep its workforce safe from COVID-19 exposure on the job, while still following medical privacy rules? The Equal Employment Opportunity Commission (EEOC) may be able to help, as it reviews how COVID-19 workplace issues intersect with recommendations from the Centers for Disease Control (CDC) and with various laws. The relevant laws include…