During periods of economic stress, both civil and criminal incidents of fraud tend to rise as businesses face increased financial pressures. The current climate is posing exceptional challenges resulting from […]
IRS Puts Brakes on ERC Processing
According to the IRS, a moratorium on processing of new ERC claims through year’s end will allow IRS to add more safeguards to prevent future abuse, to protect businesses from […]
How to Organize a Nonprofit: The 501(c)(3) and More
Most of the estimated 1.5 million nonprofit organizations in the United States are 501(c)(3) organizations, but there are many other categories of nonprofits. The nonprofit’s membership, mission and structure dictate […]
Getting a Handle on Fiduciary Responsibility and Risk Management
One of the main responsibilities of nonprofit board members is to maintain financial accountability. Board members act as trustees of assets and, therefore, must exercise due diligence to make sure […]
IRS Imposes E-Filing Requirements for Form 8300
Businesses that receive more than $10,000 in cash must report transactions to the U.S. government. The IRS says this rule helps the government fight tax evaders, drug dealers, terrorists and […]