Month: January 2026

Using Quality Management Materials (QMM) Under the New QM Standards: What CPA Firms Need to Know

Using Quality Management Materials (QMM) Under the New QM Standards: What CPA Firms Need to Know

Statement on Quality Management Standards (SQMS) No. 1 introduces new requirements for how CPA firms obtain, use, and oversee Quality Management Materials (QMM). Learn what has changed, firm responsibilities, and how QMM fits into an effective system of quality management. Focus Keywords Quality Management Materials QMM SQMS No. 1 system of quality management SQM QM …

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OMB Releases Final 2025 Compliance Supplement: What Nonprofits and Auditors Need to Know

OMB Releases Final 2025 Compliance Supplement: What Nonprofits and Auditors Need to Know

After nearly six months of delay, the Office of Management and Budget (OMB) has officially released the final version of the 2025 Compliance Supplement. While auditors were previously allowed to rely on a “final draft version” issued in August 2025 for planning purposes, the finalized supplement now governs audit execution, reporting, and submissions to the …

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Changes to Green Energy Credits Under the 2025 Act: What Tax-Exempt Organizations Need to Know

Changes to Green Energy Credits Under the 2025 Act: What Tax-Exempt Organizations Need to Know

The 2025 Act (formerly known as the One Big Beautiful Bill or OBBB) introduced major changes to federal green energy tax credits that affect tax-exempt organizations. These credits—often used to offset unrelated business income tax (UBIT)—are now subject to earlier termination dates and stricter construction requirements, particularly for wind and solar projects. Recent guidance from …

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Inflation-Adjusted Amounts for Tax-Exempt Organizations in 2026

Inflation-Adjusted Amounts for Tax-Exempt Organizations in 2026

Each year, the IRS adjusts key dollar thresholds for inflation that directly affect tax-exempt organizations. For 2026, Revenue Procedure 2025-32 introduces updated limits impacting fundraising practices, donor deductions, lobbying notifications, membership dues, and penalty assessments. Understanding these changes is essential for nonprofits to maintain compliance, structure fundraising activities correctly, and avoid unexpected penalties. Low-Cost Articles …

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