Will private schools lose their tax-exempt status for racial-preference policies? Under Treasury and IRS proposed regulations issued September 3, 2026, a private school that discriminates on the basis of race, color, or national or ethnic origin would not qualify for §501(c)(3) recognition. This post explains what changes to private school tax exempt status, when, and…
How did OBBBA expand the §4960 excise tax on nonprofit executive compensation? Internal Revenue Code §4960 imposes a 21% excise tax on a tax-exempt organization’s “excess remuneration” — compensation over $1 million paid to a covered employee — plus certain excess parachute (separation) payments. Under the One, Big, Beautiful Bill Act, beginning with tax years…
Which Form 990 must your nonprofit file, and what happens if you miss it? Most tax-exempt organizations must file an annual return in the Form 990 series, due by the 15th day of the 5th month after the organization’s accounting period ends (May 15 for calendar-year filers). Which form you file — 990-N, 990-EZ, 990,…
