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I Have to Report That, Right?

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Gelman, Rosenberg & Freedman Nonprofit Tax Principal Richard Locastro, CPA, JD spoke at the American Institute of Certified Public Accountant’s Not-For-Profit Industry Conference on reporting rules for payroll, Form 1099 and other nonprofit transactions.

Listen to his presentation here.

The IRS reporting requirements of an not-for-profit’s many transactions can be confusing and overwhelming. Failure to properly report transactions with employees, donors and others can have severe implications . This session discusses the proper payroll, Form 1099 and other reporting rules for a host of transactions.

In this presentation, Richard Locastro covers reporting aspects of everything from  employee issues such as whether an employee can receive a W-2 and a 1099, donated leave time and local lodging to employees, to less common questions involving scholarships, raffle winnings and vehicle donations. He also dedicates extensive time to the reporting requirements of employer-provided healthcare benefits.

This was my first time working with auditors and I was bracing for a tough audit and tax experience, but Jim Larson and his engagement team were very patient, kind and accommodating in breaking down their complex questions into layperson’s terms I could understand.

Carol |  Binstock
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