TAX NEWS - 2010

Tax Counseling

Grants For Nonprofits - Tax Counseling

The government offers many grants and cooperative agreements to nonprofit organizations and small business owners via a number of its offices. One such grant delivers funding for nonprofit organizations to provide counseling to senior citizens to help with finishing their yearly taxation statements.

The Internal Revenue Service has allotted $5.1 Million in the 2011 Budgetary Year to aid the Tax Counseling for the Elderly (T.C.E.) Program

The IRS, which functions within the Treasury Department is approved to enter into agreements with private or non-governmental nonprofit 501c(3)'s which give instruction and technical assistance to volunteers that deliver no cost tax guidance and assistance to older persons that are age sixty or older for the submission of their U.S. tax returns.

Grants can be used to pay volunteers for incidental expenses including transportation, meals as well as other expenditures borne by them in providing tax guidance help at spots convenient for the senior citizens.

Through a competitive approach, appropriate applicant groups and agencies vie for acceptance to become a Tax Counseling for the Elderly sponsor. These groups have to be a not for profit business expert in coordinating volunteer programs, with understanding of the income tax submission process.

Qualified organizations can acquire funds to provide regional Counseling Programs. Tax return completion assistance is provided to senior-citizens through the entire traditional Federal Tax submitting timeframe, which can be from the 1st of January to the 15th of April each year. Additionally the advising activities needed to make sure that senior-citizen taxpayers receive effective tax assistance of the best quality may be conducted throughout the year.

The Cooperative Agreement between the IRS and the nonprofit organization specifies the functions that the program sponsor and Internal Revenue Service will perform, the geographical region involved, the maximum amount of funding offered for reimbursement and administrative functions as well as other data.

Starting with the 2011 T.C.E. Plan, multi-year grant options are available for nonprofit groups that are qualified and satisfy the specified requirements.

Organizations presenting an application may choose, should they be focused on being considered for a multi-year Tax Counseling for the Elderly grant. Consideration is limited to those candidates that satisfy all eligibility conditions.

Approval by the IRS of an organization to the Tax Counseling for the Elderly program for one year will not necessarily mean that the group is going to be approved into the T.C.E. program in following years.

A not for profit group that is accepted to offer T.C.E. services is responsible for every aspect of managing a T.C.E. Program including, but not limited to marketing the program, volunteer recruitment and training, Website design and construction and outreach to seniors in their region.