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19 S. LaSalle Street Suite 1400 Chicago, IL 60603 Phone: 312-220-0019 Fax: 312-220-0700

Tax Issues Affecting Non-Profits

State and Federal Tax Exemption Issues
Is your organization looking for recognition as a tax-exempt entity? Mosher & Associates has been consistently successful in applying to the Internal Revenue Service for tax-exempt status on behalf of approximately 1500 nonprofit organizations.
We also represent clients with follow-up reporting requirements such as annual Form 990 filings. We often work with our clients' accounting firms to address audit issues and complex tax issues affecting possible tax payments or penalties.
 
Unrelated Business Tax and Charitable Entrepreneurial Programs

Our clients are primarily supported by charitable contributions or by related fees. However, it is common for non-profit corporations to engage (intentionally or unintentionally) in regular business activities that are not related to their tax-exempt purposes. Tax issues develop when the IRS Auditor identifies taxable business income or when our clients' auditor raises questions about certain revenue sources. Our office works with clients to evaluate the tax liabilities associated with unrelated business income and if possible, to reduce or manage the financial consequences. Frequently we help clients develop entrepreneurial business ventures with the understanding that taxable income will result. Usually our principal concerns are the preservation of our clients' tax-exempt status and accurate determination of tax liabilities. We encourage our clients to be creative in the area of charitable entrepreneurship.

 

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