21WA-4412: ACPEN Signature: 2021 Not-for-Profit Accounting, Auditing & Tax Update (Webinar)
If you have questions about this event, please call us at 952-831-2707.
Wednesday, September 29, 2021
9:00am - 5:00pm Central Time
8 CPE (8 technical) | 1 Ethics
The tax laws keep changing and nonprofit entities must continue to adjust to new rules. Fund raising may be helped by more generous temporary charitable deduction rules. But the IRS attack on syndicated contribution easements continues. The final Regulations on so-called “siloing” of unrelated business taxable income have been released and there are changes from the proposed regulations. There are new final Regulations on filing requirements and disclosure of donor information. And there are new final Regulations under Code Section 4960, which imposes an excise tax of 21% on salaries exceeding $1 million paid to certain employees of nonprofit organizations. More changes before this program are likely.
Large amounts of COVID-19-related Federal assistance—including the Paycheck Protection Program, the Higher Education Emergency Relief Fund, and the Healthcare Provider Relief Fund—have raised questions about how to report such assistance in a Not-for-Profit entity’s GAAP financial statements.
After deferrals by the FASB last year, the new Leases standard (Topic 842) will be effective this year for some Not-for-Profit entities and soon for others.
And, ASU 2020-07, Presentation and Disclosures by Not-for-Profit Entities for Contributed Nonfinancial Assets, introduces new requirements aimed at increasing transparency about how gifts-in-kind are valued and used by Not-for-Profit entities.
This program will also provide an overview of other recent standards issued and projects in progress that impact Not-for-Profit entities.
Major subjects
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2021 Auditing Update
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2021 Ethics Update
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FASB Update
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Presentation and Disclosure of Gifts-in-Kind (ASU 2020-07)
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Grants and Contracts of Not-for-Profit Entities (ASU 2018-08), especially use in accounting for Federal COVID-19-related assistance
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Leases (Topic 842)
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Facilitating the Transition from LIBOR and similar Reference Rates (ASU 2020-04)
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Overview of Unrelated Business Income Tax
Learning objective(s)
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Understand current developments affecting nonprofits
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Identify key ethical issues that may be encountered
Who should take this program?
Public Practitioners and Industry CPAs, EAs
Fees
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you are a
nonmember.
If you register, you will be charged
$225.00
(Standard Nonmember Fee).
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Standard Member Fee |
$225.00
|
 Standard Nonmember Fee |
$225.00
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