Nonprofit Boards Take Note: 2020 Year-End Tax Considerations

First, the highlights— then a deeper dive with CLA (CliftonLarsonAllen):

1. The IRS has bumped up #exempt #organization auditing at an increasing rate.

2. New #IRS #treasury regulations require some examination.

3. Keeping on top of COVID-related tax items may call for an outside professional.

#Board leaders: remember to seek guidance on the 2020 changed terms and inform your finance/audit committee.

An example of a quality #firm doing this work can be found here.