Small Business Health Care Tax Credit

News Release IR-2011-90 reminds small businesses, small non-profit organizations and professional service providers that there is still time to claim the Small Business Health Care Tax Credit, and encourages them to find out if they or their clients are eligible to claim the credit on their tax returns as the upcoming filing extension tax deadlines near.

Medicare Preventive Benefits Chart

The National Council on Aging in conjunction with other sponsors recently developed and distributed a chart that summarizes the preventative benefits covered by Medicare.   You may find this to be a helpful reference.  Chart....

Online Symposium on Religious Life

Join us in 2012 for an ongoing, online conversation on emergent Religious Life at the national and local levels. The conversation will be:

National and Local
Online and Face to Face
Interdisciplinary

National Online Forum

In partnership with Giving Voice, four online forums, each convened on a Sunday at 2pm Eastern and lasting about 90 minutes. Presenters, respondants, and participants can particpate from their computers, either individually, or in group settings. By doing an online forum, we are hoping for a participation of members in active ministry who couldn't travel for the event. But it will be flexible enough for small groups to gather in homes or in larger group settings. These groups can then continue the conversation locally and share their insights in an online forum. 
For the Call for Papers or to Register ....

Webcast on Immigration

Webcast on August 16, 2011: Immigration for Religious
This one hour webcast will introduce the law of immigration to those within the institute who are charged with managing religious immigration cases, or need to understand the immigration process so that they can coordinate formation or ministry. See CSJ Ministries Webcast Newsletter or click here to register.

New Group Ruling Letter Issued

The new Group Ruling letter for tax exemption for the USCCB has been issued. It can be accessed online here..... You will also find copies of the cover letter and the group ruling application.

IRS Webinar

The IRS will be hosting a webinar on International Activities of Domestic Charitable Organizations on August 4, 2011 at 2 pm ET.

New YouTube Video: How to Get Your Tax- Exempt Status Back

Did your organization lose its tax-exempt status because it failed to file for three consecutive years?  Go to the IRS YouTube channel to watch a video about How to Get Your Tax-Exempt Status Back today.

IRS releases list of 275,000 organizations that have lost exempt status

The Internal Revenue Service today announced that it has released a listing of  approximately 275,000 organizations that under the law have automatically lost their tax-exempt status because they have not filed annual reports as legally required for the past three years. If an organization appears on the list of auto-revoked organizations  it is because IRS records indicate the organization has a filing requirement and has not filed the required returns or notices for 2007, 2008 and 2009.
The IRS has issued guidance on how organizations can apply for reinstatement of their tax-exempt status, including retroactive reinstatement. In addition, the IRS announced transition relief for certain smaller tax-exempt groups – those with annual gross receipts of $50,000 or less for 2010 and eligible to file Form 990-N, the e-Postcard.  The relief allows eligible revoked groups to gain retroactive tax-exempt status and pay a reduced application fee of $100 rather than the typical $400 fee. More information, including FAQs and a Fact Sheet, can be found on the IRS website.

Taxing the Tax‐Exempt Sector—A Growing Danger for Nonprofit Organizations

A joint project of the Center for Civil Society Studies at the Johns Hopkins Institute for Policy Studies in cooperation with the Alliance for Children and Families, Alliance for Nonprofit Management, American Association of Museums, Community Action Partnership, LeadingAge, League of American Orchestras, Lutheran Services in America, and United Neighborhood Centers of America. More information....

Health Insurance Deduction Reduces Self Employment Tax

In 2010, eligible self-employed individuals can use the self-employed health insurance deduction to reduce their social security self-employment tax liability in addition to their income tax liability. As in the past, eligible taxpayers claim this deduction on Form 1040 Line 29. But in 2010, eligible taxpayers can also enter this amount on Schedule SE Line 3, thus reducing net earnings from self-employment subject to the 15.3 percent social security self-employment tax.  More....