Early this morning, the U.S. Senate and U.S. House of Representatives approved a bipartisan agreement to end another brief federal government shutdown by setting federal funding levels for the next two years. The bill, which funds the federal government through March 23, allows Congress to increase defense spending by $165 billion over the next two years and to increase domestic spending - including funding for many programs that are important to the work of nonprofits - by $131 billion over the same period.
This fall, Congress is in the process of rewriting the Internal Revenue Code with the dual goals of lowering individual and corporate income tax rates and simplifying our nation's tax laws. This tax overhaul has major implications for all 501(c)(3) nonprofits. Among other things, the tax reform proposals could reduce charitable giving, politicize 501(c)(3) nonprofits, eliminate financing options for nonprofits, and create new taxes on certain nonprofit activities.
Start Planning Now: New Overtime Rules Will Take Effect on December 1, 2016
The U.S. Department of Labor's (DOL) new overtime regulations will mean that many more employees of North Carolina nonprofits will be entitled to overtime pay when they work more than 40 hours per week. These changes, which will take effect on December 1, 2016, will affect thousands of nonprofits in North Carolina.
On May 18, the U.S. Labor Department (DOL) announced overtime final regulations that will mean that most employees earning less than $47,476 per year will be entitled to overtime compensation, regardless of whether they are currently classified as executive, administrative, or professional (white-collar) workers. The new overtime rules take effect on December 1, 2016. Here are key details about the new rule and how it will apply to nonprofits:
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On May 18, the U.S. Labor Department (DOL) announced final overtime regulations (warning: the linked regulation is 508 pages!) that specify that most employees earning less than $47,476 per year will be entitled to overtime compensation, regardless of whether they are currently classified as executive, administrative, or professional (white-collar) workers. The new overtime rules take effect on December 1, 2016.
The Status (and Future) of the Overtime Rule
What Nonprofits Need to Know
Congress Makes Charitable Giving Incentives Permanent
Leaders in Congress have reached agreement on an historic bipartisan agreement on a tax bill that will have real impact on the work of charitable nonprofits. The Protecting Americans from Tax Hikes Act of 2015 or PATH Act, which was part of the omnibus budget (HR 2029), permanently extends three charitable giving incentives:
The Center has submitted comments asking the Internal Revenue Service and the Treasury Department to develop rules that will preserve the rights of 501(c)(3) nonprofits to engage in nonpartisan civic engagement. The Center’s comments are in response to proposed regulations on political activity by 501(c)(4) social welfare organizations. The confusing language of the proposal would likely discourage foundations from supporting advocacy an
On September 25, 2017, the Center submitted comments to the U.S. Department of Labor (DOL) on suggestions for the ways that future regulations of overtime pay under the Fair Labor Standards Act (FLSA) could affect North Carolina nonprofits.