Would you do a segment on group exemption and unincorporated affiliate. What happens when they get revoked and how it must file for incorporation to reinstate
I'm going to give you a longer answer than you are probably expecting, because your question is worth fleshing out. I think you're asking if the IRS ever audits nonprofits to confirm they qualify for Form 990-N and aren't sandbagging their real revenue total. The answer is pretty much, "No." Audits on nonprofits are pretty rare percentage-wise, and there is no program for random audits. Typically, an audit only happens when something flags the IRS that there is something deserving of a closer look. More often than not, it's something on the Form 990 itself that raises a red flag. Since the Form 990-N contains practically no information, there's really nothing that would raise a flag. Therefore, Form 990-N filers are the least likely to get audited. So theoretically, a larger nonprofit could reduce it's audit exposure by simply lying about it's income and filing a Form 990-N. This would also save a lot of time and money normally spent on preparing a larger Form 990 return. That said, this is also a crime! Intentionally filing a false tax return is a form of perjury and can be criminally prosecuted as a misdemeanor or a felony, depending on the circumstances. So while someone wouldn't likely get caught sandbagging their real gross revenue, the penalty if you are isn't remotely worth the risk.
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Would you do a segment on group exemption and unincorporated affiliate. What happens when they get revoked and how it must file for incorporation to reinstate
We haven't done a group exemption video yet, but we'll try to get to that later this year. Thanks for the idea :) !
Would you please do a segment on other types of nonprofit and the difference between tax deductible and non tax deductible
Sounds great. We'll add that to the list.
DOES the irs really regularly check to see if you had receipts under 50k for a 990n
I'm going to give you a longer answer than you are probably expecting, because your question is worth fleshing out. I think you're asking if the IRS ever audits nonprofits to confirm they qualify for Form 990-N and aren't sandbagging their real revenue total. The answer is pretty much, "No." Audits on nonprofits are pretty rare percentage-wise, and there is no program for random audits. Typically, an audit only happens when something flags the IRS that there is something deserving of a closer look. More often than not, it's something on the Form 990 itself that raises a red flag. Since the Form 990-N contains practically no information, there's really nothing that would raise a flag. Therefore, Form 990-N filers are the least likely to get audited. So theoretically, a larger nonprofit could reduce it's audit exposure by simply lying about it's income and filing a Form 990-N. This would also save a lot of time and money normally spent on preparing a larger Form 990 return. That said, this is also a crime! Intentionally filing a false tax return is a form of perjury and can be criminally prosecuted as a misdemeanor or a felony, depending on the circumstances. So while someone wouldn't likely get caught sandbagging their real gross revenue, the penalty if you are isn't remotely worth the risk.