Tax Changes for Individuals 2013

The IRS summarizes important tax changes that took effect in 2013. Most of these changes are discussed in more detail throughout publication 17.  Click here....

Vow of Poverty in Civil and Canon Law

The vow of poverty has many dimensions: spirituality, simplicity, solidarity, work, sustainability, interdependence. The vow of poverty binds members to one another in a common economic unit. Our actions affect one another, for better or for worse. The vow also has raises legal issues under both Civil and Canon Law. Canon 600 gives a theological [...]

FBAR filing due // Nonprofit Class Coming

Effective July 1, 2013, TD F 90-22.1, Report of Foreign Bank and Financial Accounts (FBAR), must be filed electronically.

If you have FBAR questions, please email FBARquestions@irs.gov.

For help with e-file technical questions, please email BSAEfilinghelp@fincen.gov or call the BSA E-Filing Help Desk at 1-866-346-9478.

If you are experiencing difficulty in submitting a timely electronic FBAR, please see FinCEN guidance. If there is reasonable cause for the failure, and the balance in the account is properly reported, no penalty will be imposed.

Seminars on Establishing and Running a Nonprofit

Establishing and Running a Non-Profit: Part I

This popular seminar provides an overview of the legal basics for establishing and running a non-profit organization. Presented by Amy Hereford, an attorney and entrepreneur who speaks from her experience in working with non-profit start-ups. It includes practical tips, useful resources including the Non-profit, Tax-exempt Corporation Workbook (2012), an e-book (PDF) that presents the process of establishing a non- profit in a step-by-step format with ample space for notes, charts for gathering necessary information and tables for developing time-lines and assigning responsibilities. An excellent tool for assisting in non-profit formation, orienting new board members and non-profit directors.

NPAD:703 | $25

10am-12pm Saturday July 13, 2013 & September 7, 2013

802 Couch Ave. Meramec Campus

Establishing and Running a Non-Profit: Part II

This seminar builds on the previous session and provides more information. It will explore the legal requirements of operating a non- profit business organization, board responsibilities, business law for non- profits and legal compliance. It will also explore newer business models for non-profits, including fiscal sponsorship, nonprofit alliances, non- profit/for profit joint ventures and other collaborative structures.

NPAD:703 | $25

  1pm-3pm Saturday July 13, 2013 & September 7, 2013

802 Couch Ave. Meramec Campus

Additional Information

Call: (314) 984-7777

Visit: www.stlcc.edu/Continuing_Education

Effect of Sequestration on Small Business Health Care Tax Credit

Federal budget sequestration has resulted in required cuts to certain credits and awards, effective March 1. These required cuts include a reduction to the refundable portion of the Small Business Health Care Tax Credit for certain small tax-exempt employers

Charity & Nonprofit Audit / Type III orgs

This web page will explain the IRS audit process for charities and other nonprofit organizations. IRS Exempt Organizations is continuously exploring how to improve our service to charities and other nonprofit organizations, and hopes you will find the information on this page useful.

Recent changes affecting Type III Supporting Organizations

On February 4, 2012, the Director of Exempt Organizations, Ruling and Agreements, issued a memorandum instructing EO Determinations specialists to cease issuing determinations based on the 2009 proposed regulations.
Effective immediately, EO Determinations may issue determination letters classifying organizations as either functionally integrated or non-functionally integrated Type III supporting organizations if they satisfy the criteria set forth in the final and temporary regulations.

Revised IRS Publication on Charitable Contributions

The IRS has released revised Publication 526, which explains how to claim a charitable contributions deduction, discusses the types of organizations to which you can make deductible charitable contributions, and the types of contributions you can deduct. It also discusses how much you can deduct, what records you must keep, and how to report charitable contributions. See Publication

Seminars on Establishing and Running a Nonprofit

Establishing and Running a Non-Profit: Part I

This popular seminar provides an overview of the legal basics for establishing and running a non-profit organization. Presented by Amy Hereford, an attorney and entrepreneur who speaks from her experience in working with non-profit start-ups. It includes practical tips, useful resources including the Non-profit, Tax-exempt Corporation Workbook (2012), an e-book (PDF) that presents the process of establishing a non- profit in a step-by-step format with ample space for notes, charts for gathering necessary information and tables for developing time-lines and assigning responsibilities. An excellent tool for assisting in non-profit formation, orienting new board members and non-profit directors.

NPAD:703 | $25

680 # 10am-12pm Saturday April 6, 2013

Meramec-Bus. Admin., Rm TBA (Meramec - 802 Couch Ave. Meramec Campus )

Establishing and Running a Non-Profit: Part II

This seminar builds on the previous session and provides more information. It will explore the legal requirements of operating a non- profit business organization, board responsibilities, business law for non- profits and legal compliance. It will also explore newer business models for non-profits, including fiscal sponsorship, nonprofit alliances, non- profit/for profit joint ventures and other collaborative structures.

NPAD:703 | $25

681 # 1pm-3pm Saturday April 6, 2013

Meramec-Bus. Admin., Rm TBA (Meramec - 802 Couch Ave. Meramec Campus )

Additional Information

Call: (314) 984-7777

Visit: www.stlcc.edu/Continuing_Education

New Mileage Rates

The Internal Revenue Service today issued the 2013 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
Beginning on Jan. 1, 2013, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:
• 56.5 cents per mile for business miles driven
• 24 cents per mile driven for medical or moving purposes
• 14 cents per mile driven in service of charitable
organizations
The rate for business miles driven during 2013 increases 1 cent from the 2012 rate. The medical and moving rate is also up 1 cent per mile from the 2012 rate.

IRS Group Rulings Questionnaire

To help them better understand the relationship between central or parent organizations of group rulings and their subordinates, and learn how they satisfy their exemption and filing requirements, IRS Exempt Organizations Section is asking more than 2,000 randomly selected central organizations to complete the Group Rulings Questionnaire. See a copy of the Questionaire.

Nonprofit Law Seminar

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Establishing and Running a Non-Profit: Part I

This popular seminar provides an overview of the legal basics for establishing and running a non-profit organization. Presented by Amy Hereford, an attorney and entrepreneur who speaks from her experience in working with non-profit start-ups. It includes practical tips, useful resources including the Non-profit, Tax-exempt Corporation Workbook (2012), an e-book (PDF) that presents the process of establishing a non- profit in a step-by-step format with ample space for notes, charts for gathering necessary information and tables for developing time-lines and assigning responsibilities. An excellent tool for assisting in non-profit formation, orienting new board members and non-profit directors.

NPAD:703 | $25

680 # 10am-12pm Saturday Sept. 29, 2012

Meramec-Bus. Admin., 205 (Meramec - 802 Couch Ave. Meramec Campus )

Establishing and Running a Non-Profit: Part II

This seminar builds on the previous session and provides more information. It will explore the legal requirements of operating a non- profit business organization, board responsibilities, business law for non- profits and legal compliance. It will also explore newer business models for non-profits, including fiscal sponsorship, nonprofit alliances, non- profit/for profit joint ventures and other collaborative structures.

NPAD:703 | $25

681 # 1pm-3pm Saturday Sept. 29, 2012

Meramec-Bus. Admin., 205 (Meramec - 802 Couch Ave. Meramec Campus )

Additional Information

Call: (314) 984-7777

Visit: www.stlcc.edu/Continuing_Education

FBAR Due June 30

The annual Report of Foreign Bank and Financial Accounts, Form TD F 90-22.1,  must be received by the Department of the Treasury on or before June 30.
Related link:

• Report of Foreign Bank and Financial Accounts (FBAR)

Clean Copy of your OCD listing

You can contact the OCD publisher and ask for a PDF copy of the page(s) on which your organization is listed They will attach it to an email so you will have it quickly. Send your request to Agnes Orlowska at the address listed on their Contact Us page.

New from the IRS

New Publication on Tax on Unrelated Business Income of Exempt Organizations

The IRS has released Publication 598, Tax on Unrelated Business Income of Exempt Organizations, in which it describes which organizations are subject to the tax, return filing requirements, what an unrelated trade or business is, and how to calculate unrelated business taxable income. - read more

Online Tool to Check Charitable Organizations

The Internal Revenue Service has launched a new online search tool, Exempt Organizations Select Check, to help users more easily find key information about tax-exempt organizations, such as federal tax status and filings.   - read more

Payroll Tax Cut Extended

Under the Middle Class Tax Relief and Job Creation Act of 2012, enacted February 23, 2012, workers will continue to receive larger paychecks for the rest of this year based on a lower social security tax withholding rate of 4.2 percent, which is two percentage points less than the 6.2 percent rate in effect prior to 2011. This reduced rate, originally in effect for all of 2011, was extended through the end of February by the Temporary Payroll Tax Cut Continuation Act of 2011, enacted Dec. 23.

FAQs on New Payment Card Reporting Requirements

The Internal Revenue Service is providing special transitional relief to banks and other payment settlement entities required to begin reporting payment card and third-party network transactions to the IRS on new Form 1099-K. The IRS gave new guidance on independent contractors. Read more....

Reporting employer health care coverage on Form W-2

An Oct. 31 webinar will explain the Affordable Care Act provision that requires some employers to report health care coverage on Form W-2.
Related links:

• IR-2011-31, IRS Issues Interim Guidance on Informational Reporting of Employer-Sponsored Health Coverage
• Employer-Provided Health Coverage Informational Reporting Requirements: Frequently Asked Questions

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.