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)

Covenant Project

This newly launched project provides comprehensive service to religious institutes that wish to explore coming to their historical completion. In this difficult but grace-filled time, a community can live today's challenges with the same courage, fidelity and creativity that have marked its entire history. We assist communities in developing a time-line, in identifying the covenant(s) and/or partnership(s) that will be helpful along the way and in putting the necessary documents in place. Click here....

Online Symposium on Consecrated Life

Third Session - July 8, 2012, 2pm ET Sisters on the Cosmological Frontier

Frontier Sisters: From the time they arrived in the New World in 1727 up to today, the profound frontier spirit of Catholic sisters have shaped the social and cultural landscape of the nation. While we know that the wild frontier of the New World has long been tamed, Catholic sisters in the 21st century have entered an equally challenging and unexplored frontier, that of the cosmological which is giving rise to a new context for the theology of religious life and its lived expression in the world. Join us as we explore religious life on the evolutionary edge!
Gail Worcelo is the co-founder of Green Mountain Monastery, along with the late Passionist priest and cultural historian Thomas Berry. Gail is a liturgical dancer, clinical psychologist and retreat leader who is passionate about her own growth in Christ consciousness and in linking with others who as Chardin said, "are striving to unite in depth to support evolution's advance."To Register....

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....

Expanded Minsiterial Exception Case

On Jan. 11, the Supreme Court issued a ruling in a significant church employment dispute, giving religious organizations wide latitude in hiring and firing clergy and other employees who perform religious duties. In its unanimous decision, the high court explicitly recognized a legal doctrine known as the “ministerial exception.”
The case, Hosanna-Tabor Evangelical Lutheran Church and School v. Equal Employment Opportunity Commission, involved the dismissal of a teacher at a Lutheran school in Michigan who performed both secular and religious duties. The teacher argued that she had been fired in violation of laws protecting people with disabilities. Specifically, she claimed that the religious school had retaliated against her for asserting her rights under the Americans with Disabilities Act. But the high court ruled that the ministerial exception trumps anti-discrimination laws. “The interest of society in the enforcement of employment discrimination statutes is undoubtedly important,” Chief Justice John Roberts Jr. wrote for the court. “But so too is the interest of religious groups in choosing who will preach their beliefs, teach their faith, and carry out their mission.” Read more....

Directors personally liable for negligence of a nonprofit board

Directors and officers must exercise reasonable inquiry, skill and diligence in performing their duties and must have a reasonable basis for their reliance on any information provided them. If it is determined that officers or directors of a nonprofit corporation have not fulfilled their fiduciary duties with respect to the management of the organization, creditors may be able to hold the directors personally liable for the nonprofit’s debts. Read more....

Online Symposium on Consecrated Life

First Session - January 8, 2012, 2pm ET A Prophetic Moment: Transforming the Shadow and Bringing Religious Life into the 21st Century

Religious life is a call from God to be a distinct voice in the wilderness. Within this wilderness is shadow material that begs to be uncovered and transformed. Is this the prophetic work that Religious are called to in the 21st century? In light of the vows and the trends of the Church, these shadow elements and their transformational possibilities will be explored.
Presenter: Linda Buck, CSJ is a Sister of St. Joseph of Orange. She is a Licensed Marriage & Family Therapist and holds a Master’s degree from Pepperdine University in Clinical Psychology. She is an Adjunct Professor at Pepperdine University and a Certified Spiritual Director. Linda provides workshops and retreats focusing on the integration of spirituality and psychology.
Register: www.ahereford.org/symposium