Attorney David Cook will be presenting a “Tax Update for Cooperatives” at the NTCA 2015 Finance & Accounting Conference. Click here for more details. NTCA… Read More »Telephone Cooperative Tax Update Presented by David Cook
AHC has formed a group on LinkedIn for business cooperatives. Here is a summary of the group and its purpose.
Business Cooperatives is dedicated to connecting business cooperatives and their leaders. By sharing their expertise and experiences, members will stay informed about cooperative operation, member relations and customer service, laws, finances, and taxes.Read More »New LinkedIn Group for Business Cooperatives
In its 2013 Workplan, the IRS reported a “high level” of incorrect reporting by Section 501(c)(12) cooperatives. These errors primarily related to “miscalculation and misreporting” of member income percentages.
The IRS conducted a compliance check of Section 501(c)(12) cooperatives. The compliance check involved questionnaires and examinations. The IRS concluded that one-fourth of the cooperatives either (i) failed the Member Income Test or (ii) were not being operated on a cooperative or mutual basis. Given the high number of irregularities, cooperatives would be well advised to review these two important requirements. Read More »IRS Scrutinizes Section 501(c)(12) Cooperatives
AHC attorney Roland Hall was recently interviewed for an article on the trend toward more transparency and openness in cooperative governance. The article appeared in the July/August issue of the National Cooperative Business Association’s Cooperative Business Journal. Read More »AHC Attorney Discusses Cooperative Governance and Transparency Issues
AHC attorney David R. Cook recently spoke to a group of cooperative accountants about the role of accountants in cooperatives’ board meetings. The presentation focused on the duties of directors, officers, and in-house accountants to the cooperative and to each other.Read More »The Role of the Cooperative Accountant
This blog post was prepared by guest blogger Tim Madsen of Survey & Ballot Systems.
A cooperative, by definition, is an association of people voluntarily united to meet a common goal through democratic process and voluntary membership. Democratic cooperative governance requires an elected board that sets policies and makes decisions that are in the best interest of its members. In order for this to happen, members must have the opportunity to participate in well-run, open elections.Read More »Guest Blog: Preparing Your Cooperative Staff for an Election
The latest AHC Cooperative Taxation Brief discusses the Internal Revenue Service’s recent private letter ruling that confirms its long-held stance on discounting capital credits. The… Read More »IRS Confirms the Propriety of Discounting Capital Credits