Blazek & Vetterling understands the unique and specific set of federal and state rules with which tax-exempt organizations must comply. We provide comprehensive tax compliance and tax consulting services to hundreds of nonprofit organizations. Our services include the filing of annual returns with the IRS, tax compliance reviews, and consulting related to taxable income, compensation of officials, website content and donations, and other issues facing nonprofit organizations.
Types of Tax Services
IRS Form 990 is a tax-exempt organization's most common annual tax return. It is a required public document that informs donors, stakeholders, and the public about an organization's activities, finances, and governance. Preparing IRS Form 990 can be complex and challenging, requiring a thorough understanding of tax laws and regulations applicable to tax-exempt organizations. At our firm, our team of experts has extensive experience in helping hundreds of tax-exempt organizations prepare their annual tax returns and IRS Form 990.
We work closely with our clients to ensure that their annual tax returns are prepared accurately, completely, and in compliance with all applicable regulations. Our team stays up-to-date on the latest tax laws and regulations that apply to tax-exempt organizations. We provide our clients with valuable insights and recommendations to help them manage their finances and operations effectively. Overall, our expertise in preparing annual tax returns and IRS Form 990 enables us to provide our clients with the peace of mind they need to focus on their mission and goals.
Unrelated business income (UBI) is a complex area of tax law that can be challenging for tax-exempt organizations to navigate. UBI is income from a trade or business unrelated to the tax-exempt organization's mission or purpose. This income may be subject to unrelated business income tax (UBIT), a tax on income generated by tax-exempt organizations from unrelated business activities.
At our firm, we have extensive experience in helping tax-exempt organizations evaluate their income sources and determine whether any revenue is subject to UBIT. We carefully review our clients' activities to identify any sources of UBI and assess whether any available exceptions under the tax code apply to exempt the income from UBIT.
Tax compliance issues can be a significant challenge for organizations of all types and sizes. Failure to comply with federal and state reporting requirements can result in penalties, fines, and other legal consequences, damaging an organization's reputation and financial stability.
At our firm, we have extensive experience in helping our clients identify and address tax compliance issues. We carefully review our clients' tax reporting requirements for employment, sales, property, and other tax purposes to ensure they meet all applicable federal and state requirements.
An IRS audit can be complex and challenging, requiring a thorough understanding of tax laws and regulations and the ability to communicate effectively with IRS agents. Therefore, if the IRS has targeted an organization for a full audit or limited inquiry, it is essential to respond quickly and effectively to minimize the impact on the organization.
At our firm, we have extensive experience in helping our clients respond to IRS audits and inquiries. Our team works closely with our clients to understand the audit or investigation's scope and develop a strategy for responding that complies with all applicable laws and regulations.