Utah No Longer Requires Charitable Registration to Solicit Contributions
May 1, 2024 Nonprofit organizations are no longer required to complete charitable registration with the Utah Division of Consumer Protection in order to solicit charitable contributions effective May 1, 2024. However, certain charities will be required to upload their most recent IRS Form 990 to the Utah Division of Corporations and Commercial Code as part […]
New Mexico Audit Threshold Updates
January 1, 2024 Effective January 1, 2024, New Mexico has raised the audit threshold for nonprofits. The new threshold for requiring Audited Financial Statements is set at $750,000 in total revenue. For more information, refer to the New Mexico Auditor’s Report Requirements Update. Questions about the audit threshold updates or how this affects your nonprofit? […]
Updates to Illinois Audit Thresholds
January 1, 2024 Starting January 1, 2024, the audit threshold for nonprofits in Illinois has been updated. For nonprofits that do not employ professional solicitors, the threshold for requiring Audited Financial Statements increases to $500,000 in total revenue, while the threshold for Reviewed Financial Statements is set between $300,000 and $499,999 in total revenue. Nonprofits […]
IRS 2023 Tax Year Filing Update
October 11, 2024 IRS Assistance Offered to Victims of Hurricanes Helene and Milton The IRS has issued a 2023 tax year filing update wherein taxpayers in Alabama, Florida, Georgia, North Carolina, South Carolina, and parts of Tennessee and Virginia who were granted extensions to file their 2023 returns now have until May 1, 2025, to […]
Important Update – Beneficial Ownership Information (BOI)
If you have any questions regarding BOI and how this may affect your nonprofit, please don’t hesitate to contact us. February 18, 2025 Corporate Transparency Act Reporting Requirements Back in Effect Following the February 18, 2025, decision by the U.S. District Court for the Eastern District of Texas in Smith, et al. v. U.S. Department […]