 Our Staying Legal page is brought to NH Nonprofits in collaboration with the NH Division of Charitable Trusts. Besides basic information about staying legal we offer Staying Legal Updates on nonprofit regulatory issues from Michael DeLucia, Director of Charitable Trusts and Terry Knowles, Registrar of Charitable Trusts, The Division of Charitable Trusts, NH Department of Justice.
News and Resources
Senator Seeks New Regulations for Charities
According to the Chronicle of Philanthropy, "A key senator wants to give the Federal Trade Commission the power to regulate nonprofit organizations including penalizing charities that say in their fund-raising appeals they are raising money for a particular cause but devote very little of it to that purpose." Read more... Senate Leader Considers Tougher Penalties for Mistakes on Tax Form
From the Chronicle of Philanthropy:"Could nonprofit groups face steep fines if they skip lines or misreport information on informational tax forms? Sen. Charles Grassley, the senior Republican on the powerful Finance Committee, says tougher penalties are possible if charities do not take steps to improve their reporting on the Form 990 informational tax return."
Read more... Public Comment Invited on Recommendations for 2008-2009 Guidance Priority List
The Department of Treasury and Internal Revenue Service invite public comment on recommendations for items that should be included on the 2008-2009 Guidance Priority List. The Treasury Department's Office of Tax Policy and the Service use the Guidance Priority List each year to identify and prioritize the tax issues that should be addressed
through regulations, revenue rulings, revenue procedures, notices, and other published administrative guidance.
Read more... Tax Exemption News NH Supreme Court Rules: MacDowell Colony Tax ExemptMarch 14, 2008 - Today the New Hampshire Supreme Court upheld an earlier ruling by the trail court and affirmed that the MacDowell Colony in Peterborough is a charitable organization and thus entitled to a tax exemption under RSA 72:23. This ruling ends a two-year court challenge between the Colony and the Town of Peterborough. Within the ruling, the Supreme Court Justices referenced the ElderTrust Case, which was settled earlier this year, and the four-factor test that confirmed the tax status of that organization. - Read the ruling...
- The MacDowell Colony Responds...- NH Charitable Foundation Responds...-View the NH Bar Journal's article on property tax issue.
IRS to Require More Disclosure of Officials' Salaries This Chronicle of Philanthropy article discusses the Internal Revenue Service's new definition of "key employees" whose salaries must be reported. What will this mean for your organization? Read more... Update on Safety Summary Form
According to the NH Department of Labor, Safety Summary Forms must be filed biennially by businesses with 10 or more employees. If you have filed in 2006, you will need to file for 2008. (Safety Summary Form) If you have any questions, call (603) 271-6850/6297 for assistance or email the NH Department of Labor at Safety. Update on IRS Form 990
According to the Chronicle of Philanthropy article “IRS Revises
Proposed Tax Form in Response to Critics,” the IRS is rethinking some
of the questions that will be asked of nonprofits on the IRS Form 990.
Click the link below to read the entire article. Read More…
Property Taxation We thought this article, “Should Nonprofits Chip In?”, from the Boston Globe was an interesting article on how the property taxation situation is affecting other states. 2006 Pension Law Changes There have been many important changes to  retirement
planning rules due to the 2006 Pension Protection Act. Donald M. Roy,
CFP® of New England Wealth Advisors, our endorsed provider of
Retirement Plan Services, is providing NHCN members with a valuable
resource. The link below provides you with everything you need to know
regarding the new law. If you have specific questions after reading the
booklet, please feel free to call Don at (603) 429-0968 Online Training from the IRS http://www.stayexempt.org/  Tax-exempt Status Unrelated Business Income Employment Issues Form 990 Required Disclosures More...
Staying Legal Update: Fiscal Agents
Staying Legal Update: Legislative Update
Staying Legal: Six Most Frequently Asked Questions
Staying Legal: Investments and Fiduciary Responsibilities-Voting Proxies |
