Elaine's Tax Tips for Nonprofits

Offering helpful tips to nonprofit organizations in areas of federal tax compliance.

Monday, June 8, 2020

COVID-19 Update #11 - The PPP Loan Game Changer

›
The past two months have seen a flurry of activity as professionals and regulatory agencies interpreted all the aspects of the legislation...
Thursday, May 14, 2020

Proposed New Guidance for Group Rulings Indicates Future Changes for All Groups

›
Proposing sweeping reform and updating archaic guidance for organization's holding group rulings, the IRS issued Notice 2020-36 proposin...
Friday, April 24, 2020

COVID-19 Update #10 - The Housing Allowance and the PPP

›
Over the past two weeks many churches have applied for the a loan through the Paycheck Protection Program (PPP).  In determining average mon...
Tuesday, April 14, 2020

COVID-19 Update #9 - Deferral of Tax Deposits

›
The CARES Act provides for employers and self-employed individuals to shift the timing of certain tax payments over the next few months in t...
Tuesday, April 7, 2020

COVID-19 Update #8 - Update on the Paycheck Protection Program

›
The Paycheck Protection Program has created a whirlwind of activity over the past 10 days.  While it was the goal of everyone to provide nee...
Wednesday, April 1, 2020

COVID-19 Update #6 - Individual Economic Impact Payments

›
To further assist in stabilizing the economy the CARES Act provides for economic impact payments to be automatically distributed to taxpayer...
Monday, March 30, 2020

COVID-19 Update #5 - The Paycheck Protection Program - SBA Loans Available to Nonprofit Organizations

›
Special Note:  Guidance and information has been issued from several sources over the past week.  In an attempt to provide accurate informat...
‹
›
Home
View web version

About Me

My photo
Elaine Sommerville
I am a CPA with 30 years of experience working with nonprofit organizations in areas of tax compliance for both federal and state issues. I am the sole shareholder of Sommerville & Associates, P.C. located in Arlington, Texas. I am a frequent speaker for the Texas Society of CPAs, The Church Network and an instructor for the AICPA.
View my complete profile
Powered by Blogger.