Formation of a not-for-profit, including applying for recognition of tax-exempt status; assisting with all not-for-profit compliance services, including preparation of Form 990, Form 990-PF, Form 990-T, etc.; structuring the operations of new organizations to qualify for tax-exempt status
Private foundation excise taxes (net investment income, annual distribution requirements, self-dealing, jeopardizing investments, excess business holdings, and taxable expenditures)
Planning and consulting regarding Unrelated Business Income Tax (UBIT)
Planning and consulting regarding potential excess benefit transactions
IRS audits and other tax controversies
How Citrin Cooperman Can Help
Tax law for not-for-profits and higher education institutions is replete with exemptions, exceptions, and limitations, which can make deciphering the Internal Revenue Code and regulations very challenging. When combined with increasing oversight by federal, state and local governments, donors, grantors, media, and the public, tax compliance an ongoing endeavor. Our not-for-profit tax professionals actively work with organizations’ members or board to consider their goals and plans and have worked with many organizations in this capacity.
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