Healthcare Connection – Oct. 24, 2017
Beware of 5 Unclaimed Property Audit Red Flags
An increasing number of states have identified unclaimed property audits as potential sources of revenue. Because the associated risks and penalties for unclaimed property noncompliance can be significant, managing unclaimed property risk is more important today than ever. This article reveals five red flags that could increase the likelihood of an audit.
Schedule A Reporting: Section 509(a)(3) Supporting Organizations
Supporting organizations historically have been viewed as operating within a very complex area of the tax law. The complexity arguably rose to a new level, however, with the 2014 introduction of an expanded Schedule A of Form 990 – the form required for reporting public charity status and public support. Because of the expanded reporting requirements, supporting organization managers and tax practitioners have been forced to possess a deeper understanding of supporting organization tax law than required in the past.