Should we file an amended tax return?
Download: Nonprofit Law Podcast #23 (mp3, 5:50)
Shownotes
Intro
Tim Mooney… Welcome to the Nonprofit Law Podcast
Your guide to the laws impacting nonprofits.
Shownotes…. nplawcast.com
Email the show
News & Notes
We're going on holiday schedule through the end of the year... we'll have new editions every other week through the end of the year. Happy holidays!
Sign up for the free NLP newsletter... every week get the shownotes and resources sent to you by email, plus get additional free content on the laws impacting nonprofits. Go to nplawcast.com/newsletter for more info and to sign up.
When should a nonprofit amend its IRS tax return
Generally, not often - since there are no refunds to consider there is usually no economic advantage to doing it
Only if there is a substantial error
501(c)(3) that checks the box saying it engaged in political activity
501(c)(3) that exceeded its lobbying limits, only to later discover it did not and would like the excise taxes returned
501(c)(4) that miscalculated the amount of political activity it engaged in
Other substantial errors in reporting (income, etc.)
Missing schedules of a return
Best practices - write "ameded return" on the top of every page of the return in addition to checking the appropriate box for amended return on page 1
Closing
Email me with questions and suggested topics
Screencast on using the Internet, podcasting and social networking for your nonprofit - go to nplawcast.com for details
Need more than a podcast? Tim-Mooney.com
nplawcast.com
This podcast provides general information about legal topics but it is not a complete discussion of all legal issues that arise in relation to nonprofits nor is it a substitute for legal advice. This podcast does not create an attorney-client relationship. This is general legal information and the contributors make no warranties regarding the general legal information provided in this podcast , and disclaim liability for damages resulting from its use to the fullest extent permitted by the applicable law.
Sunday, November 18, 2007
Sunday, November 11, 2007
Nonprofit Law Podcast #22: Help! I lost my 501(c)(3) letter!
Help, I lost my 501(c)(3) letter!
Download: Nonprofit Law Podcast #22 (mp3, 6:43)
Shownotes
Intro
Tim Mooney… Welcome to the Nonprofit Law Podcast
Your guide to the laws impacting nonprofits.
Shownotes…. nplawcast.com
Email the show
News & Notes
Kudos to Corey and 501(c)(3) podcast... he's taking on a new job and moving, which means a brief hiatus for his show. We all look forward to his return to podcasting in January.
Sign up for the free NLP newsletter... every week get the shownotes and resources sent to you by email, plus get additional free content on the laws impacting nonprofits. Go to nplawcast.com/newsletter for more info and to sign up.
Help!! I lost my 501(c)(3) letter!
It's important - public charities are asked for copies of their letter ALL the time
Before you lose it... scan and post it to your website in a "secret" place
IF you lose it... don't panic
Form 4506-A (PDF)
IRS Tax Exempt and Government Entities (TE/GE) Customer Account Services at (877) 829-5500
Resources
IRS.gov/eo
IRS Tax Exempt and Government Entities (TE/GE) Customer Account Services at (877) 829-5500
Closing
Email me with questions and suggested topics
Screencast on using the Internet, podcasting and social networking for your nonprofit - go to nplawcast.com for details
Need more than a podcast? Tim-Mooney.com
nplawcast.com
This podcast provides general information about legal topics but it is not a complete discussion of all legal issues that arise in relation to nonprofits nor is it a substitute for legal advice. This podcast does not create an attorney-client relationship. This is general legal information and the contributors make no warranties regarding the general legal information provided in this podcast , and disclaim liability for damages resulting from its use to the fullest extent permitted by the applicable law.
Download: Nonprofit Law Podcast #22 (mp3, 6:43)
Shownotes
Intro
Tim Mooney… Welcome to the Nonprofit Law Podcast
Your guide to the laws impacting nonprofits.
Shownotes…. nplawcast.com
Email the show
News & Notes
Kudos to Corey and 501(c)(3) podcast... he's taking on a new job and moving, which means a brief hiatus for his show. We all look forward to his return to podcasting in January.
Sign up for the free NLP newsletter... every week get the shownotes and resources sent to you by email, plus get additional free content on the laws impacting nonprofits. Go to nplawcast.com/newsletter for more info and to sign up.
Help!! I lost my 501(c)(3) letter!
It's important - public charities are asked for copies of their letter ALL the time
Before you lose it... scan and post it to your website in a "secret" place
IF you lose it... don't panic
Form 4506-A (PDF)
IRS Tax Exempt and Government Entities (TE/GE) Customer Account Services at (877) 829-5500
Resources
IRS.gov/eo
IRS Tax Exempt and Government Entities (TE/GE) Customer Account Services at (877) 829-5500
Closing
Email me with questions and suggested topics
Screencast on using the Internet, podcasting and social networking for your nonprofit - go to nplawcast.com for details
Need more than a podcast? Tim-Mooney.com
nplawcast.com
This podcast provides general information about legal topics but it is not a complete discussion of all legal issues that arise in relation to nonprofits nor is it a substitute for legal advice. This podcast does not create an attorney-client relationship. This is general legal information and the contributors make no warranties regarding the general legal information provided in this podcast , and disclaim liability for damages resulting from its use to the fullest extent permitted by the applicable law.
Tuesday, November 6, 2007
Nonprofit Law Podcast #21: Nonprofit insurance
Nonprofit insurance
Download: Nonprofit Law Podcast #21 (mp3, 9:30)
Shownotes
Intro
Tim Mooney… Welcome to the Nonprofit Law Podcast
Your guide to the laws impacting nonprofits.
Shownotes…. nplawcast.com
Email the show
What the heck is D&O insurance, and do we need it?
Directors and Officers Insurance
Does NOT cover everything under the sun
Covers breaches of duty to the nonprofit by directors and officers
D&O pays for "wrongful acts."
D&O insurance usually covers:
* Employment-discrimination, harassment, and wrongful termination
* Failure to provide services to parties
* Mismanagement of assets (negligence, etc.)
D&O insurance usually does NOT cover:
* bodily injury
* property damage
* other torts on your premises/property
Other insurance, (usually general liability) covers these claims.
Insurance is lawyer coverage as much as it is claim coverage
Depending on your situation, here's some thoughts on insurance:
General liability may be the better first buy... D&O as you get larger
Consult a good insurance broker with experience in nonprofits
Talk with your state's nonprofit association for more
Resources
Nonprofit Directors and Officers Insurance: The Good, the Bad, and the Ugly - Guidestar.org
Directors and Officers Liability Insurance - NPCCNY
Don Kramer's Nonprofit Issues regarding the Federal Volunteer Protection Law
Closing
Email me with questions and suggested topics
Screencast on using the Internet, podcasting and social networking for your nonprofit - go to nplawcast.com for details
Need more than a podcast? Tim-Mooney.com
nplawcast.com
This podcast provides general information about legal topics but it is not a complete discussion of all legal issues that arise in relation to nonprofits nor is it a substitute for legal advice. This podcast does not create an attorney-client relationship. This is general legal information and the contributors make no warranties regarding the general legal information provided in this podcast , and disclaim liability for damages resulting from its use to the fullest extent permitted by the applicable law.
Download: Nonprofit Law Podcast #21 (mp3, 9:30)
Shownotes
Intro
Tim Mooney… Welcome to the Nonprofit Law Podcast
Your guide to the laws impacting nonprofits.
Shownotes…. nplawcast.com
Email the show
What the heck is D&O insurance, and do we need it?
Directors and Officers Insurance
Does NOT cover everything under the sun
Covers breaches of duty to the nonprofit by directors and officers
D&O pays for "wrongful acts."
D&O insurance usually covers:
* Employment-discrimination, harassment, and wrongful termination
* Failure to provide services to parties
* Mismanagement of assets (negligence, etc.)
D&O insurance usually does NOT cover:
* bodily injury
* property damage
* other torts on your premises/property
Other insurance, (usually general liability) covers these claims.
Insurance is lawyer coverage as much as it is claim coverage
Depending on your situation, here's some thoughts on insurance:
General liability may be the better first buy... D&O as you get larger
Consult a good insurance broker with experience in nonprofits
Talk with your state's nonprofit association for more
Resources
Nonprofit Directors and Officers Insurance: The Good, the Bad, and the Ugly - Guidestar.org
Directors and Officers Liability Insurance - NPCCNY
Don Kramer's Nonprofit Issues regarding the Federal Volunteer Protection Law
Closing
Email me with questions and suggested topics
Screencast on using the Internet, podcasting and social networking for your nonprofit - go to nplawcast.com for details
Need more than a podcast? Tim-Mooney.com
nplawcast.com
This podcast provides general information about legal topics but it is not a complete discussion of all legal issues that arise in relation to nonprofits nor is it a substitute for legal advice. This podcast does not create an attorney-client relationship. This is general legal information and the contributors make no warranties regarding the general legal information provided in this podcast , and disclaim liability for damages resulting from its use to the fullest extent permitted by the applicable law.
Subscribe to:
Posts (Atom)
