Description: |
WHY ATTEND THIS COURSE? For tax exempt organizations, it is not about calculating income tax. It is about showing to the IRS at inception and annually that the organization is entitled to be classified as a tax exempt organization because of its purpose, management, and activities. Exempt organizations have unique tax rules and special forms. The IRS is especially sensitive to abuses of exempt status. From fundamentals needed to obtain exemption and to prepare Form 990, this program teaches what the informed CPA in public practice and inside a tax exempt organization must know.
DESIGNED FOR... CPAs having any involvement with tax-exempt organizations and preparation of Forms 1023, 1024, and 990. May also be suitable for public practice.
OBJECTIVE
Participants will be able to:
• Advise exempt organizations on a wide range of tax issues, including:
– unrelated business income
– executive compensation
– fringe benefits
– unrelated debt financed income
– the tax treatment of special events
• Advise clients regarding lobbying expenditures
• Explain the intermediate sanction rules to organization managers
• Address issues faced by social clubs
• Deal with current IRS audit issues
MAJOR SUBJECTS
• Common tax issues in exempt organizations
• Lobbying expenses (including Section 501(h) election)
• Intermediate sanctions
• Relationships with controlled subsidiaries
• Tax issues relating to publications and advertising revenue
• Unrelated debt financed income—advanced issues
• Social clubs—special problems
• Other exempt organizations
• Case studies/recent developments in federal taxation relating to exempt organizations
• Report on IRS audit initiatives directed at exempt organizations
Speaker Bio: Don Paul Cochran is a solo practitioner in Apple Valley, Minnesota. His 36 years of practice has been focused primarily in the areas of small business legal and tax consulting, and individual tax, estate, and financial planning. Don has practiced law in both Iowa and Minnesota. He is a member of the Minnesota and Iowa State Bar Associations, and the Minnesota Society of CPAs.
As an instructor for Nichols Patrick CPE Inc. Don is much sought after as a presenter of CPE seminars sponsored by state societies of CPAs, CPA firms, and associations of CPAs. Don is also a featured speaker at several national tax conferences.
|
Comments are closed.