The House Ways and Means Committee released proposed tax legislation on May 12, 2025 which included potential changes having considerable impact on the tax-exempt community. There are many steps left in the legislative process before the proposed bill may become law...
In today’s digital landscape, securing data is more critical than ever. With the rise of ransomware, data breaches, and stringent compliance regulations, organizations are actively seeking ways to enhance their backup strategies. Two common options for creating and...
Speaking with several nonprofit leaders and boards a few years ago, conversations around the likelihood of being hit with a cyberattack appeared to be remote. With limited resources, those leaders often found it difficult to put money into protecting against something...
What is Fog Ransomware?Fog ransomware is a sophisticated form of malicious software that encrypts files, rendering them inaccessible until a ransom is paid. Unlike traditional ransomware, Fog employs advanced techniques to evade detection. It often enters systems...
In today’s digital world, “the cloud” has revolutionized the way organizations, store, manage, and process data. However, as more organizations utilize cloud technology, the vulnerabilities surrounding that technology have grown exponentially. Failure to adapt and...
The saga surrounding the Beneficial Ownership Information (“BOI”) reporting requirementscontinues… On February 18, 2025, the U.S. District Court for the Eastern District of Texas granted FinCEN astay order on its previously issued preliminary nationwide injunction on...
On December 3, 2024, the U.S. District Court for the Eastern District of Texas issued a nationwide preliminary injunction against enforcing the Beneficial Ownership Information (“BOI”) reporting requirements mandated by the Corporate Transparency Act (“CTA”). Read...
The Corporate Transparency Act (“CTA”) expanded anti-money laundering laws and created new reporting requirements for certain companies doing business in the United States. Beginning in 2024, in an effort to create a national database for use by national security and...
From time to time, we receive inquiries from tax-exempt organizations asking, “[w]hat’s the big deal if we do not file our federal Form 990, Return of Organization Exempt from Tax (“Form 990”), on time or at all?” As outlined below, a late filing or complete failure...