Policy Update: Legislation Introduced to Block IRS's SSN Proposal
Thanks to everyone who submitted comments online opposing the
IRS's Gift Substantiation Proposed Regulations
, on Thursday a bipartisan House bill was proposed to prohibit the IRS from requiring or accepting Social Security numbers from donors. As reported in The Nonprofit Times, the
Charitable Giving Privacy Protection Act
was created after the IRS received approximately 35,000 comments, many negative, in response to their proposal.
Congress Makes Tax Incentives for Charitable Giving Permanent
Last week, as part of bipartisan legislation, three incentives for charitable giving were made permanent: the food donation tax deduction, the enhanced tax deduction for conservation easement donations, and the IRA charitable rollover option.
Please take this opportunity to
nominate a professional in Boston who works on the front lines and demonstrates what it means to expand opportunities for others. A selection committee made up of Dawnn's colleagues, peers and family will make the annual selection of three individuals to receive a Light of Dawnn Award. Those selected will be recognized at a public event and receive a monetary award for their outstanding efforts.
You can learn more about Dawnn's remarkable impact here.
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NONPROFIT 411:
Is Fraud Preventable?
Safeguarding your nonprofit.
By John Buckley, CPA, Partner at
AFFCPAs
When fraud prevention is raised in the public eye, it is often with a focus on for-profit companies. Nonprofits, however, have just as great a need for transparency and security. In fact, given the current challenging funding environment for nonprofits, the impact of fraud can be crippling in terms of lost revenue and donor confidence.
Public companies have stringent oversight and protections when it comes to fraud. When Sarbanes-Oxley passed in 2002, whistle blower protections and audit committees were central pieces of an evolution that upped the ante on transparency.
While the same regulations don't exist for nonprofits, organizations still have the opportunity to prevent or minimize fraud.
Read more...
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