WASHINGTON — The Internal Revenue Service today issued proposed regulations clarifying the reporting requirements generally applicable to tax-exempt organizations.
The proposed regulations reflect statutory amendments and certain grants of reporting relief announced by the Treasury Department and the IRS in prior guidance to help many tax-exempt organizations generally find the reporting requirements in one place.
Among other provisions, the proposed regulations incorporate the existing exception from having to file an annual return for certain organizations that normally have gross receipts of $50,000 or less, which is found in Revenue Procedure 2011-15. The regulations also incorporate relief from requirements to report contributor names and addresses on annual returns filed by certain tax-exempt organizations, previously provided in Revenue Procedure 2018-38. A recent court decision held that the Treasury Department and the IRS should have followed notice and comment procedures in 2018 when announcing this relief with respect to providing contributor names and addresses, and these regulations provide the opportunity for notice and comment on that relief as well as on other proposed updates to existing regulations.
Under the proposed regulations, filing requirements for Section 501(c)(3) organizations and Section 527 political organizations remain unchanged, and all organizations are required to keep the contributor information and make it available to the IRS upon request.
Treasury and IRS welcome public comments on all aspects of these proposed regulations. For details on submitting comments, see the proposed regulations. The regulations propose to allow tax-exempt organizations to elect to apply the regulations to returns filed after September 6, 2019.
https://www.irs.gov/newsroom/treasury-and-irs-issue-proposed-regulations-and-provide-relief-for-certain-tax-exempt-organizations
http://accountinginstruction.info/
Additionally, the IRS issued Notice 2019-47 (PDF) providing penalty relief for certain exempt organizations that, consistent with the 2018 guidance from the IRS, do not report the names and addresses of contributors on annual returns for tax years ending on or after December 31, 2018, but on or before July 30, 2019.
...
https://www.youtube.com/watch?v=NNjpf2ish00
In this comprehensive guide to tax preparation for 2023-2024, we delve into the intricate world of amortizable bond premiums and the deductions associated with them. Whether you're a seasoned investor or new to the realm of bonds, understanding how to navigate these deductions can significantly impact your tax liability.
Amortizable bond premiums occur when an investor purchases a bond for more than its face value. While this may seem straightforward, the tax implications can be complex. Throughout this video, we break down the key concepts surrounding amortizable bond premiums, including:
What constitutes an amortizable bond premium
How to calculate the amortization of bond premiums
The IRS rules and regulations governing deductions for amortizable bond premiums
Strategies for maximizing deductions while staying compliant with tax laws
Our expert insights and practical tips will empower you to make informed decisions when preparing your taxes for the 2023-2024 financial year. Whether you're an individual investor or a tax professional, this guide provides invaluable knowledge to help you navigate the nuances of amortizable bond premiums and optimize your tax situation.
Don't let confusing tax regulations stand in the way of maximizing your deductions. Watch our video now to gain clarity on amortizable bond premiums and ensure you're making the most of your investments come tax season. Subscribe to our channel for more updates and expert advice on tax preparation and financial planning.
...
https://www.youtube.com/watch?v=-frwr43XVzU
Sch. C Are You Self Employed
Resource including multiple language text & audio: https://1drv.ms/u/s!Ap8mLpFX7uo9gcJWPfNXwD_z6xtw_A?e=OBQaqi
Google Classroom: https://classroom.google.com/c/MjM2NDg1Mjk4NzE1?cjc=7ibfle4
Class code: 7ibfle4
Playlist: https://www.youtube.com/playlist?list=PL60SIT917rv5W3nTPK_PHavaSUW2AdJWR
Income Tax 2020
...
https://www.youtube.com/watch?v=fpY3wxDEXH0
Present Value Annuity
Resource Multiple Languages: https://1drv.ms/u/s!Ap8mLpFX7uo9geAHAD1cP61Z232KDg?e=xgFoMO
Playlist: https://www.youtube.com/playlist?list=PL60SIT917rv4k3wMvHq17YTu-yRpWhbWZ
Google Classroom: https://classroom.google.com/c/MzY5OTA5NTc1ODA5?cjc=kvlccwl
Class code: kvlccwl
https://accountinginstruction.info/
Personal Finance
...
https://www.youtube.com/watch?v=ePAWGQYObQ0