Tax Planning and Compliance for Tax-Exempt Organizations: Rules, Checklists and Procedures, 4th Edition
Quint, Lisa F., The CPA Journal
Tax Planning and Compliance for Tax-Exempt Organizations: Rules, Checklists and Procedures, 4th Edition By Jody Blazek, CPA John Wiley & Sons, Inc., 2004; ISBN: 0-471-27177-2; 742 pages, $150
Paperback supplement forthcoming April 2005, 96 pages, $65
Author Jody Blazek's experience includes 10 years as the treasurer of a tax-exempt organization. Blazek says the book "is intended to be a practical guide to establishing and maintaining tax-exempt status for nonprofit organizations." The book deals with basic issues, as well as detailed explanations for more advanced readers, and she points out that the definition of a charitable organization, as well as the tax advantages of deductible contributions, can change with the political times.
As the author indicates, the IRS is currently updating the application form and annual information return for exempt organizations, including electronic filing. The 1RS issued a revised Form 1023 in October 2004. An update of this book will be needed when all these forms are completed by the 1RS, and the author expects to publish a supplement then, with access to a web-site for timely updates.
This book is clearly a desk reference, with numerous footnotes and cross-references to other sections of the book and to IRS regulations, rulings, and other useful information. The author also cites various other texts for information beyond the scope of the current book. In addition, each state has its own rules for tax-exempt organizations. The chapter on unrelated-business income tax (UBIT) explains how to determine which items sold in a museum gift shop represent unrelated income and are therefore subject to UBIT. The author is familiar with Texas rules and occasionally refers to them; a reader would also need to consult applicable state regulations.
The book is organized into three parts, with 26 chapters, including 155 subchapters and 54 exhibits (including 12 annual tax compliance checklists), plus an index:
* Part 1. Chapters 1-11: Qualifications of Tax-Exempt Organizations
* Part 2. …