Now What Webinar: How the New Federal Tax Law Impacts Charitable Nonprofits
The federal Tax Cuts and Jobs Act, enacted just days before the New Year, contains sweeping changes that create immediate uncertainty about compliance challenges and certain new threats as states and localities scramble to change their own tax laws and spending plans in ways that could impact your nonprofit’s mission.
Join KNN and our host, the National Council of Nonprofits, for a special nationwide webinar to learn what operational changes you may need to make right away, what you need to know about state and local policy changes, and other items that will affect your nonprofit and the people you serve.
- Operational Issues: The federal tax bill was signed just 10 days before it went into effect, giving no one time to adjust in advance. Everyone is playing catch up. What payroll and other operational changes are needed immediately? What tax changes apply specifically to nonprofits as employers and organizations, and which ones apply to all employers and organizations? And when is the IRS likely to give all of us clear guidance, forms we can use, etc.?
- Related State Law Changes: State and local governments must balance their current fiscal year budgets (typically ending June 30), meaning they have little time to adjust to unexpected budget shortfalls created by the new federal tax law. What changes might your state and local governments make in reaction to the new federal law that could impact the work of your nonprofit if you don’t speak up? What will changes by state and local governments mean for spending levels, tax exemptions, and new taxes, fees, and payments in lieu of taxes (PILOTs) that target nonprofits?
- And More: Many questions are still being formulated and answers still evolving. What else is likely coming at charitable nonprofits in the coming weeks and months? Where can people find reliable information?