Industry
AAFCPAs Urges Repeal of Nonprofit Transportation Tax
AAFCPAs has sent a letter to Congressman Richard Neal (D-Mass.), Chair of the tax-writing Ways and Means Committee, asking him to lend his support to nonprofits by helping to repeal Internal Revenue Code Section 512(a)(7). Section 512(a)(7) of the new tax code requires nonprofits to now pay a burdensome tax on parking and transportation fringe […]
CHIA Announces Deadline Extension for Community Health Center FY 2018 Cost Reports
The Center for Health Information and Analysis (CHIA) announced Friday that they are extending the deadline for all Community Health Centers (CHCs) to file their fiscal year 2018 cost report to Monday, July 8, 2019. All Massachusetts CHCs, regardless of Fiscal Year End (FYE) date, are required to file their fiscal year 2018 cost report […]
Notice of IRS Changes to Group Exemptions and Group Returns
AAFCPAs would like to make our nonprofit clients aware that as of January 1, 2019, the IRS stopped mailing lists of parent and subsidiary accounts to central organizations (group ruling holders) for verification and return. If your organization is the Central Organization of a group exemption, historically you would have received an annual mailing from […]
Guidance for CHCs on Critical, ACO-related Budgeting, Forecasting, and Risk/Settlement Planning
Recently, healthcare providers have seen an increasing prominence of alternative payment methodologies (APMs), primarily in the form of Accountable Care Organizations (ACOs), which include risk sharing and/or incentive payment components. In Massachusetts, community health centers (CHCs) are beginning to have their first exposure to ACOs through the Medicaid 1115 waiver and the recently implemented MassHealth […]
AAFCPAs to Present Workshop on Right-Sizing Your Finance Function at Cannabis Convention, Boston
AAFCPAs has been selected to present an educational workshop: Right-Size Your Finance Function at the 5th Annual New England Cannabis Convention, March 22-24th, 2019, at the Hynes Convention Center, Boston MA. The New England Cannabis Convention in Boston is considered the can’t-miss event of the year by cannabis growers and business cultivators across the region. […]
AAFCPAs’ Joyce Ripianzi to Present Accounting & Tax Update for Nonprofit EDs and Board Members
AAFCPAs Partner Joyce Ripianzi, CPA has been selected to present an educational Accounting & Tax Update on March 9th as part of the Essex County Community Foundation’s 10th Annual Institute for Trustees. This annual event is designed to provide education, training and best practices for first year board members as well as the most seasoned […]
AAFCPAs to Present Workshop on Anticipating Fraud at NBOA Conference, San Diego, CA
AAFCPAs has been selected to present an educational workshop: Rogue Waves Sink the Unwary Vessel: Think Like a Fraudster at the National Business Officers Association (NBOA) Conference in San Diego, CA, March 3-6. This is a must-attend conference for CFOs, heads of school and other business and operational leaders in nonprofit K-12 education, providing exceptional learning opportunities […]
FQHCs: 2019 New Medicare Services and G Code Payment Updates
AAFCPAs would like to make Rural Health Clinic (RHC) and Federally Qualified Health Center (FQHC) clients aware that the Centers for Medicare & Medicaid Services (CMS) has issued important reimbursement updates related to virtual communication services, and Medicare G Code rates for 2019. Virtual Communication Services Effective January 1, 2019, RHCs and FQHCs may now […]
Updates for Nonprofits under the New Tax Act
This blog was revised on 10/10/19. AAFCPAs would like to make Tax Exempt Organizations aware of recent legislative and regulatory updates related to the Tax Cuts and Jobs Act, (“TCJA”) and how these may affect charitable nonprofits. What is Considered a Nondeductible Parking Expense that will now Trigger Unrelated Business Income Tax (UBIT)? On December […]