COVID-19 Tax Relief: Roundup of Postponed Federal Tax Deadlines
Many taxpayers are confused about which federal tax filing and payment deadlines have been postponed by the IRS — and there certainly are a lot of postponements to keep track of.
Private foundations provide an important source of funding for Western New York charitable organizations that support health and human services, education, science, and the arts. To remain healthy, they must be prepared for fluctuations in the investment market and the overall economy. Additionally, they must remain vigilant about complying with IRS regulations.
For the past several decades, Lumsden McCormick has provided accounting and tax services to private foundations throughout our region. Our assurance, tax, and consulting professionals will work proactively with your team to advise your leadership team on complex IRS rules. By staying on top of regulatory changes and monitoring capital gains, we can help minimize tax obligations and avoid penalties for underpayment of estimated taxes. We can also collaborate with your team to plan strategically for how your endowments should be invested.
Our comprehensive private foundation accounting services include:
For more information about our accounting and consulting services for private foundations, contact Donna Gonser or complete the form below.