On September 21, 2022, the Internal Revenue Service ("IRS") Chief Counsel's Office issued an Advice Memorandum confirming that improperly forgiven Paycheck Protection Program ("PPP") loans are taxable. Thus, even if PPP loan forgiveness was obtained, the exclusion...
As of September 19, 2022, all annual filings with the State of New York Attorney General Charities Bureau ("Charities Bureau") must be submitted online. The online application, which uses electronic signature and payment processes, is said to make annual filing...
By Daniel T Condon The Internal Revenue Service is increasing its focus on good corporate governance for tax-exempt organizations, including tax-exempt social clubs. As of 2008 Part VI of Form 990 requests information regarding an organization’s governing body and...