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Understanding Effective Grant Management

February 9, 2017

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When: Thursday, Feb. 23, 2017, 2 p.m. to 5 p.m.

Where: # 202 J.C. Penney Conference Center on the UM-St. Louis North Campus

Fee: $ 25

Program Description: Come to this class to learn the basics of effective grant management and implementation, and to learn the proper accounting procedures and practices you will need to employ as you put your grant funds into action.

Instructor Dan Sise, JD, joined the Nonprofit Management and Leadership Program (NPML Program) at UM-St. Louis in October, 2008, and serves as the NPML Program’s Academic Coordinator and Community Engagement Manager. A 1997 graduate of the University of Illinois College of Law, Dan is currently licensed to practice law in Missouri and Illinois. In the course of his legal career, Dan has dealt with a wide range of issues, including regulatory compliance, insurance coverage and defense, community redevelopment, and nonprofit governance and oversight. He serves on

Dangerous W-2 Phishing Scam Evolving; Targeting Schools, Restaurants, Hospitals, Tribal Groups and Others

February 3, 2017

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WASHINGTON – The Internal Revenue Service, state tax agencies and the tax industry issued an urgent alert today to all employers that the Form W-2 email phishing scam has evolved beyond the corporate world and is spreading to other sectors, including school districts, tribal organizations and nonprofits.

In a related development, the W-2 scammers are coupling their efforts to steal employee W-2 information with an older scheme on wire transfers that is victimizing some organizations twice. “This is one of the most dangerous email phishing scams we’ve seen in a long time. It can result in the large-scale theft of sensitive data that criminals can use to commit various crimes, including filing fraudulent tax returns. We need everyone’s help to turn the tide against this scheme,’’ said IRS Commissioner John Koskinen.

When employers report W-2 thefts immediately to the IRS, the agency can take steps to help protect employees from

IRS Releases Updated Form 990-EZ; New Options to Help Exempt Organizations Avoid Errors, File a More Accurate Return

January 31, 2017

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WASHINGTON — The IRS announced today the release of an updated Form 990-EZ, Short Form Return of Organization Exempt From Income Tax, that will help tax-exempt organizations avoid common mistakes when filing their annual return.

The updated Form 990-EZ includes 29 “help” icons describing key information needed to complete many of the fields within the form. The icons also provide links to additional helpful information available on IRS.gov. These “pop-up” boxes share information to help small and mid-size exempt organizations avoid common mistakes when filling out the form and filing their return.

EO Update: e-News for Charities & Nonprofits

January 3, 2017

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1.  Form 990-N e-Postcard page unavailable 12/26/16 to 1/6/17

The Annual Electronic Filing Requirement for Small Exempt Organizations — Form 990-N (e-Postcard) page will be down from December 26, 2016 at 11:59 a.m. until January 6, 2017 at 1:00 p.m. EST due to an annual planned maintenance. We apologize for this inconvenience.

2.  Tax Preparedness Series: Remember donations may cut tax bills

As tax filing season approaches, the IRS reminds taxpayers who give money or goods to a charity by December 31, 2016 that they may be able to claim a deduction on their 2016 federal income tax return and reduce their taxes.

3.  Helpful tax tips

Review these helpful tax tips.

Select Nonprofit Accounting Issues and Updates

January 3, 2017

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When: Thursday, Jan. 26, 2017, 2 p.m. to 5 p.m. Where: # 202 J.C. Penney Conference Center on the UM-St. Louis North Campus Fee: $ 25

Program Description: Changes are coming for nonprofit financial statements. This class will cover some specific, technical topics that nonprofits need to know as they prepare for future changes in their financial management and reporting. Topics include:

  • Changes to net asset classifications
  • Disclosure of allocation methods
  • Functional expense information
  • Reporting of investment returns
  • Reporting of leases
  • And more…

Some of these are fairly technical topics that nonprofits should start hearing about and planning for now so they can address them more proactively, prior to audit time.

Instructor Linda Howdeshell founded her firm to serve nonprofits in May 2015 after almost 30 years of working with nonprofits. Linda works with clients to improve efficiency of systems and internal controls. She serves on the Not-for-Profit Committee of the

Employers & Health Coverage Providers: You Have More Time in 2017 to Provide Information Forms to Covered Individuals

December 8, 2016

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The IRS extended the 2017 due date for employers and coverage providers to furnish information statements to individuals. The due dates to file those returns with the IRS are not extended. This chart can help you understand the upcoming deadlines.

Action 2017 Reporting Due Dates for… Applicable Large Employers – Including Those That Are Self-Insured Self-insured Employers That Are Not Applicable Large Employers Coverage Providers  – other than Self-Insured Applicable Large Employers*  Provide 1095-B to responsible individuals

  Not Applicable** Mar. 2 Mar. 2 File 1094-B and  1095-B with the IRS Not Applicable** Paper: Feb. 28E-file: Mar. 31* Paper: Feb. 28E-file: Mar. 31* Provide 1095-C to full-time employees Mar. 2 Not Applicable Not Applicable File 1095-C and 1094-C with the IRS Paper: Feb. 28E-file: Mar. 31* Not Applicable Not Applicable

* If you file 250 or more Forms 1095-B or Forms 1095-C, you must electronically file them with the IRS. Electronically

Private Foundations and Impact Investing

November 30, 2016

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Bryan Cave recently organized a half-day symposium examining the opportunities and legal considerations related to responsible and impact investing strategies. The Responsible and Impact Investing Symposium, held on November 10, was co-presented by Fordham University’s Gabelli School of Business and featured leaders in this growing field who discussed opportunities and legal considerations for investors, private foundations, financial advisers and for-profit entities, from start-ups to established ventures. More than 135 guests attended the event.  With respect to private foundations, we focused our discussion on the use of program related investments and what we hope is a growing trend to use these tax-advantaged tools to make a difference in our communities.   Below are the foundation slides from the event.  Special thanks to my co-speakers, John Oddy from Foundation Source and Dana Bezerra from the Heron Foundation.

For a complete list of speakers and the program agenda, please click here

For additional

TE/GE Announces New Information Document Request Management Process

November 22, 2016

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The Tax Exempt and Government Entities Division of the Internal Revenue Service has issued new internal guidance for its agents on issuing information document requests (IDRs). The IRS issues IDRs to gather information during an examination. The new process will go into effect on April 1, 2017. Prior to its implementation, TE/GE will provide training to its agents on the new process.

Under the new process:

  • Taxpayers will be involved in the IDR process.
  • Examiners will discuss the issue being examined and the information needed with the taxpayer prior to issuing an IDR.
  • Examiners will ensure that the IDR clearly states the issue and the relevant information they are requesting.
  • If the taxpayer does not timely provide the information requested in the IDR by the agreed upon date, including extensions, the examiner will issue a delinquency notice.
  • If the taxpayer fails to respond to the delinquency notice or provides an
  • Don’t forget to register for the free webcast about Clarifying the Universal Availability and Other 403(b) Retirement Plan Requirements

    October 25, 2016

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    When: October 27, 2016; 2 p.m. (Eastern)

    How: Register for this event. You will use the same link to attend the event.

    Learn about:

    • Hours of service
    • Changes in employee status
    • Student participation
    • Other 403(b) rules

    This hour long webcast will provide answers to many of the questions we received for the May 19, 2016, Understanding the Universal Availability Rules in a 403(b) Retirement Plan webcast. We encourage you to review the prior webcast before attending this one.

    Continuing education (CE) certificates of attendance will not be offered for this program.

    IRS Overhauls the Retirement Plan Correction Program

    October 21, 2016

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    With the looming end of the determination letter program as we know it, the IRS has issued an updated Revenue Procedure for the Employee Plans Compliance Resolutions System (EPCRS). Released on September 29, 2016, Rev. Proc. 2016-51 updates theEPCRS procedures, replaces Rev. Proc. 2013-12 and integrates the changes provided in Rev. Proc. 2015-27 and Rev. Proc. 2015-28. The updated revenue procedure is effective January 1, 2017 and its provisions cannot be used until that date. Rev. Proc. 2013-12, as modified by Rev. Proc. 2015-27 and Rev. Proc. 2015-28, should be used for any corrections under the EPCRS for the remainder of 2016. Highlights from the new revenue procedure are outlined below.

    Changes

    • Determination Letter Applications. Determination letter applications are no longer required to be submitted as part of corrections that include plan amendments. The new revenue procedure also clarifies that any compliance statement for a correction through plan amendment
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