Skip to main content
Beancount.io Logo

#nonprofit

Nonprofit

Nonprofit accounting, fund tracking, and compliance

59 postsView all tagsBack to All Posts

Can the IRS Audit Your Church? How the Two-Notice Section 7611 Process Actually Works

Section 7611 lets the IRS examine a church only after a high-level Treasury official records a reasonable belief in writing, sends two separate notices, and agrees to finish within two years and stay away for five. This guide walks through each stage, the pre-examination conference, the five exceptions that remove the protection entirely, and the three bookkeeping failures that trigger most church inquiries in practice, namely unrelated business income, informal payroll, and campaign intervention.

mike

nonprofitaudittax-compliance

Qualified Sponsorship Payments vs. Advertising: How Nonprofits Keep Sponsor Dollars Out of UBIT

A qualified sponsorship payment is tax-free under IRC Section 513(i), while advertising revenue is taxed at the 21% UBIT rate and triggers Form 990-T once unrelated business income reaches $1,000. This guide draws the acknowledgment-versus-advertising line the regulations use — qualitative language, price claims, exclusive-provider clauses, periodical placements, contingent amounts, and the 2% de minimis threshold for return benefits — and gives an eight-step screen to run before signing a sponsor contract.

mike

nonprofittax-compliancefundraising

When Your Nonprofit's Bingo Night Owes the IRS: UBIT, the Volunteer and Bingo Exceptions, and W-2G

The IRS treats charity gaming as an unrelated business, so raffle and bingo profits can owe UBIT on Form 990-T even when every dollar funds programs. Two exceptions usually save the event — substantially-all-volunteer labor and traditional bingo (never pull-tabs) — while raffles paying $600-plus at 300 times the wager trigger Form W-2G, with 24 percent withholding above $5,000.

mike

nonprofitgamblingtax-compliance

AASB 1061 Tier 3: An Implementation Playbook for Australia’s Smaller Not-for-Profits

AASB 1061 creates a simplified Tier 3 general purpose reporting framework for eligible Australian private-sector not-for-profits, mandatory for annual periods beginning on or after 1 July 2029. Here is what changes for leases, grant revenue, financial instruments, and donated assets — and the records, registers, and policies to build before the first Tier 3 year closes.

mike

nonprofitfinancial-reportingcompliance

When Your Nonprofit's Crypto Staking Rewards Trigger UBIT: How Frequent Trading and the New Form 1099-DA Create Unrelated Business Income Exposure in 2026

Crypto staking rewards and frequent token trading can trigger unrelated business income tax for nonprofits. Learn the three-part UBIT test, when dominion and control makes rewards taxable, how Form 1099-DA and 1099-MISC report differently in 2026, and a bookkeeping checklist to track lots and file Form 990-T.

mike

nonprofitcryptocurrencytax-compliance
Start Free→Documentation