Insights

A recent federal court decision, Kwong v. United States, has created a potential refund and abatement opportunity for taxpayers who were assessed IRS penalties or interest on federal tax obligations during the COVID-19 federal disaster period (January 20, 2020 through July 10, 2023). The decision remains unsettled, as the government has appealed, but many affected taxpayers cannot wait for the outcome: a formal refund claim or protective refund claim may need to be filed by July 10, 2026 to preserve their rights.

Mission drift can quietly undermine a nonprofit’s financial health, fundraising efforts, and donor relationships. Whether the shift is intentional or gradual, understanding how to evaluate mission alignment, manage a formal change, and communicate transparently with stakeholders is essential to protecting your organization’s long-term stability and community impact.

Alternative investments can strengthen your nonprofit’s long-term financial performance through greater diversification and potentially higher returns. But they also bring added complexity, higher costs, and expanded tax exposure. Before committing assets, it is essential to carefully weigh the financial and tax implications specific to your organization’s situation.

Not every governance gap requires a new board member. Advisory boards offer nonprofits a flexible way to bring in specialized expertise, expand community representation, and strengthen fundraising connections without adding formal governance responsibilities. Learn how to evaluate whether an advisory board is the right fit for your organization and how to build one that delivers real results.

Vasquez + Company LLP announces that its Founder and Managing Partner, Gilbert R. Vasquez, has been appointed to the board of directors of the Mexican American Legal Defense and Educational Fund (MALDEF). The appointment reflects a career built across more than 40 boards and decades of service to Latino communities nationwide.

Before committing to your nonprofit, major funders will scrutinize your financial statements, Form 990, and key performance ratios. Knowing how to present that data accurately and favorably is essential to building donor confidence. Learn which metrics matter most and how your organization can put its best financial foot forward.

Does your nonprofit board truly understand the financial reports it receives? From simplifying complex terminology to using visual tools like charts and ratios, there are practical strategies that can sharpen your board’s financial literacy and support better governance. Here is a look at how to make financial information more accessible and actionable.

Even nonprofits with strong fundraising can face unexpected cash shortages when income and expenses fall out of sync. Better cash flow management starts with visibility — understanding not just what comes in, but when. Discover practical strategies for forecasting, building recurring revenue, and strengthening your organization’s long-term financial stability.

Home renovations come with many details and many potential tax benefits. From mortgage interest deductions and adjusted cost basis on a future home sale, to credits for energy-efficient improvements, the right strategies can preserve real savings. Learn how to make the most of your next renovation from a tax perspective.

For the second consecutive year, Forbes has named Gilbert R. Vasquez to its America’s Best-In-State CPAs list.