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Audit automation: Exploring the benefits of Checkpoint Engage Single Audit

ThomsonReuters

When it comes to Single Audits of local governments, nonprofits, school districts, and HUD engagements, auditors must navigate through a complex set of rules that are constantly changing. These challenges compound quickly as the volume of audits increases. However, there is an answer: audit automation.

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What are the tax obligations for charities and nonprofits?

ThomsonReuters

How to file taxes for nonprofits What are the 501(c)(3) reporting requirements? Helping clients with Form 990 and charity exemptions Charities and nonprofits must comply with tax obligations in order to maintain their tax-exempt status. Ensure that the nonprofit organization’s tax-exempt status is up to date.

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IRS Webpage Addresses Tax Rules for Employer-Provided Parking

ThomsonReuters

A recently revised IRS webpage intended for charities and nonprofit employers highlights the tax rules applicable to employer-provided parking and what to expect if the IRS audits this benefit. IRS Webpage: Qualified Parking Fringe Benefit (Apr. Available at [link]. a (“How to Value Qualified Parking Benefits”).

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Sustainability, audits, and DEI: Tying it all together

ThomsonReuters

What is sustainability auditing ? So, what is sustainability auditing ? Sustainability auditing is considered a major component of a company’s business strategy as it helps ensure that a company is both sustainable and profitable. Do sustainability reports have to be audited? . Develop and revise content .

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Understanding Form 8283 and non-cash charitable contributions

ThomsonReuters

It is imperative to follow these instructions meticulously to ensure accurate reporting and to avoid potential discrepancies that might raise red flags for your clients during an IRS audit. Blog For information on how to properly report cash donations, check out our article on Schedule A and tax-deductible donation s to charities.

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Cedar Raises $102M For Medical Billing

PYMNTS

based Novant is a nonprofit network consisting of more than 1,500 physicians and 15 medical centers in North Carolina, Virginia and South Carolina, according to its 2018 audited financial statements. Cedar also announced what it called an “innovation partnership” with Novant Health. Winston, N.C.-based

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Schedule A and tax-deductible donations to charities

ThomsonReuters

Tax-deductible charitable donations can be made to qualified nonprofit organizations, such as religious institutions, educational institutions, humanitarian groups, and more. Retain these records for at least three years in case of an IRS audit. Blog Learn how to implement effective tax planning for 1040 clients. Keep records.

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