Industry Alerts

We keep a close eye on important developments that could affect your organization, and distribute this information to our clients through industry alerts.


If you already receive one or more GRF industry alert but you are interested in receiving another in our collection, please click here to send your request through our contact form.

September 4, 2018

Consider Federal and State Tax Changes in Your Year-End Tax Planning

With summer coming to an end, it is not too early to think about year-end tax planning, particularly in light of U.S. tax reform and major developments like the Wayfair ruling. The CPAs at Gelman, Rosenberg & Freedman (GRF) are keeping clients informed as more clarity emerges around these landmark changes, and we work with…

Read more ›

August 1, 2018

Wayfair Ruling: Sales Tax Implications for Nonprofits

According to the recent U.S. Supreme Court ruling in South Dakota v. Wayfair, online sellers may be required to collect sales taxes even if the sellers do not have a physical presence in that state. This decision may have far reaching consequences to online sellers, including nonprofits. Nonprofits are often exempt from paying sales tax on items…

Read more ›

July 19, 2018

IRS Revises Schedule B Requirements for Some Nonprofits

The IRS released Revenue Procedure 2018-38 on July 16, which modified the Schedule B filing requirements for tax-exempt organizations exempt under IRC section 501(c) other than 501(c)(3) organizations. Non-501(c)(3) organizations, like 501(c)(4) social welfare organizations or 501(c)(6) trade associations, will no longer have to report the donors’ names and addresses on Schedule B. Schedule B…

Read more ›

April 9, 2018

Update: Tax Cuts and Jobs Act’s Impact on Tax-Exempt Organization

Despite all the attention around the Tax Cuts and Jobs Act (TCJA), many questions remain unanswered with respect to the new tax law enacted in December. Among the most commonly asked questions is whether post-December 31, 2017 parking/commuting expense payments made by employers from employee salary deferrals are unrelated business income (UBI). While an Internal…

Read more ›

January 10, 2018

Tax Cuts and Jobs Act’s Impact on Tax-Exempt Organizations

The newly passed Tax Cuts and Jobs Act (the Act) was sent to the President for signature yesterday and is expected to be signed into law in early January.  The Act contains many provisions (most taking effect in 2018) that impact tax-exempt organizations.  There will undoubtedly be comprehensive analyses addressing the changes followed by guidance…

Read more ›

November 28, 2017

Monitoring Tax Reform for Our Clients

With last week’s release of the Senate package and the House of Representatives voting today on their bill, Congress remains intent on passing tax reform legislation before the end of the year. Gelman, Rosenberg & Freedman CPAs (GRF) is monitoring developments closely and we will keep clients informed as more clarity emerges around the changes…

Read more ›

May 26, 2017

Grace Period for Implementation of the New Procurement Standards Should Not Delay Your Organization’s Preparation

Announced last week, OMB has provided an additional one-year postponement for implementation of the new procurement standards set forth under Uniform Guidance, Title 2, CFR 200. With the grace period extending through December 25, 2017 for non-Federal entities, the new implementation date will start for fiscal years beginning on or after December 26, 2017. Click here for…

Read more ›

August 2, 2016

New Regulations to Notify the IRS of Intent to Operate Under Sec. 501(c)(4)

Newly created and certain existing 501(c)(4) social welfare organizations must now file a notice with the IRS. Generally, 501(c)(4) organizations are not required to file Form 1024 to seek tax-exempt status; they may “self-declare”. As a result, until a self-declared 501(c)(4) filed a Form 990, the IRS had no record of its existence. The Protecting…

Read more ›

March 22, 2016

Beware: Phishing Scheme Involving W-2s

There has been an elaborate phishing scheme this tax season that attempts to trick human resources and payroll professionals into revealing employees’ personal information, including names, email addresses and Social Security Numbers. Cybercriminals pose as executives in emails in an attempt to secure this data. The IRS issued an alert on March 1, 2016 after several…

Read more ›

February 8, 2016

Protecting Americans Against Tax Hikes (PATH) and Contribution Substantiation Reminder

PATH Act Requires 501(c)(4) Organizations to Provide Notice to IRS after Formation As a result of recent legislation, the Protecting Americans from Tax Hike Act of 2015 (PATH Act), signed into law by President Obama on December 18th, 2015, newly created and certain existing 501(c)(4) social welfare organizations must now file a notice with the…

Read more ›