Telemedicine and Potential Tax Implications for Tax-Exempt Providers

Telemedicine and remote patient monitoring has been a clinical reality and a critical component of healthcare for nearly 60 years, allowing doctors to treat patients who may be too ill to travel. The technology has expanded in scope significantly over those six decades, but despite its widespread use, the IRS has yet to issue tax guidance specific to this form of remote treatment.

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You’re Invited: Webinar – Annual Nonprofit Tax Update

Join us next Thursday, September 22, from 1-2 p.m. EST for our seventh session in the 2016 BDO KNOWLEDGE Nonprofit and Education Webinar Series, the Annual Nonprofit Tax Update.

Laura Kalick, Marc Berger and Joyce Underwood will discuss the latest IRS initiatives and audit focus, issues related to state taxation and new UBIT positions. Attendees will also hear the latest on new rulings and legislative proposals and how they could impact nonprofit organizations.

The session is worth one CPE credit in Tax. Click here to learn more and register.

If you can’t make it, keep an eye on our Webinar resource page and on Twitter at @BDONonprofit for the archived webinar.

Click here to subscribe to our blog.

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Understanding the Changes to Nonprofit Financial Reporting

By now, our readers are well aware that changes are afoot in the realm of nonprofit financial reporting. In fact, our recent poll indicates that a majority (61 percent) of our readers have reviewed the ASU on the presentation of financial statement of not-for-profit entities, yet only 27 percent have an implementation plan in place.

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POLL RESULTS: Reactions to the Biggest Nonprofit Accounting Change in 20 Years

Last week, we asked the readers of the Nonprofit Standard to voice their opinions on the Financial Accounting Standards Board (FASB) ASU No. 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities, widely considered the biggest change to nonprofit financial reporting in two decades. Over 30 of you responded to the questions we posed, letting us know your thoughts on this critical industry development.  Continue reading

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Reader Poll: What’s Your Take on the New FASB Standard?

Last week, we announced the much-anticipated arrival of the biggest change to nonprofit financial reporting in over twenty years. As our readers know, the Financial Accounting Standards Board (FASB) issued an updated not-for-profit accounting standard, ASU No. 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities, on August 18, 2016. Continue reading

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Biggest Change to Nonprofit Financial Reporting in 20 Years Has Arrived

The Financial Accounting Standards Board (FASB) has just released the Accounting Standards Update (ASU), Not-for-Profit Entities (Topic 958) – Presentation of Financial Statements of Not-for-Profit Entities, which you can find here. If you’ve been following our blog, you’ll know this marks the biggest change to nonprofit financial reporting in more than two decades.  Continue reading

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Lawsuits Target Higher Ed: What Retirement Plan Sponsors Need to Know

Retirement plan excessive fee litigation surrounding 403(b) plans was a hot topic in the employee benefit plan world this past week. Several universities that sponsor 403(b) plans were added to excessive fee litigation filed by the law firm of Schlichter, Bogard & Denton, bringing the total to eight universities having to defend their decisions for their retirement plans. These suits are the first of their kind in the 403(b) plan industry, while these lawsuits have been occurring for the past decade for 401(k) plans.

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International Grantmaking Issues for Nonprofits

International risks for nonprofits took center stage in recent headlines, and as organizations increasingly expand beyond domestic borders, it’s clear the conduct of foreign employees can have a real impact on an organization’s ability to carry out its mission and maintain its reputation.

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New Deferred Compensation Regulations: What Nonprofits Need to Know

The IRS recently released proposed regulations that provide guidance for the nonqualified deferred compensation arrangements of tax-exempt organizations. Continue reading

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Uniform Guidance Procurement Rules Are Coming… Is Your Organization Prepared?

Time is running out! For organizations that receive federal funding subject to Uniform Guidance (UG), 2 CFR 200, the time to update procurement standards is rapidly approaching. Continue reading

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