Membership in the National Society of Accountants for Cooperatives (NSAC) is open to individuals employed by or affiliated with a cooperative organization as well as those who are engaged in providing professional services for cooperatives and those who are otherwise engaged in the furtherance of cooperative principals.
When joining NSAC, one becomes a member of the both the national organization and one or more chapters. NSAC has one chapter that is national in scope, the Electric Cooperative Chapter (ECC). The ECC is dedicated to serving rural utility advisors. Other chapters of NSAC are organized geographically.
These regional organizations provide education and information of special interest to members. They are especially valuable to members as they add a more localized component to membership. Members may affiliate with the chapter(s) of their choice.
Recent Happenings
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Cheers to 90 Years! NSAC is Celebrating a Milestone!
The National Society of Accountants for Cooperatives is thrilled to celebrate its 90th Anniversary—a milestone marking nine decades of supporting professionals in cooperative financial management and planning while advancing the cooperative model. Since 1935, NSAC has been the go-to for industry-specific education, resources, and connections. We’re kicking off the celebration in style at COMPASS, where attendees, both virtual ...
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The User Fee for Letter Ruling Requests Is Increased Again
At the beginning of each year the IRS releases a revenue procedure detailing how to go about requesting a private letter ruling, closing agreement or determination letter. This year’s revenue procedure is Rev. Proc. 2025-1, 2025-01 IRB 1 (December 30, 2024). The annual revenue procedure has gradually expanded and now takes up 117 pages in the Internal Revenue Bulletin. For someone not familiar with the process of seeking private letter ...
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When a Small Cooperative Prevails in Litigation With the IRS, It May Be Entitled To Recover Some of Its Costs
Under certain limited circumstances, a taxpayer that substantially prevails in a tax dispute with the IRS may be able to recover a portion of its administrative and legal expenses (including attorney’s fees). See, Section 7430 of the Internal Revenue Code. Taxpayers eligible for recovery include individuals whose net worth at the time the civil action was filed did not exceed $2 million. Relief is also available for unincorporated ...
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