Description
In this CPE course, learn about the organizational and operational requirements to establish and maintain tax exemption. It also discusses activities and transactions that NFPs should limit or avoid to protect their tax-exempt status.
Objectives
- Distinguish between organizational and operational requirements for charitable and other exempt organizations
- Determine important areas where tax-exemption can be threatened
- Identify situations that could result in IRS revocation of an organization's tax-exempt status
Highlights
- Establishing and protecting tax exemption
- Tools to verify tax exemption
- Protecting tax exemption
- Organizational and operational issues
- Recordkeeping and substantiation
- Uncertain tax positions
- Lobbying and political activities
- Private inurement and benefit
- Excess benefit transactions
- Reasonable compensation
- Excise taxes and penalties
- Revocation of exempt status