The Uniform Guidance (UG)—published by the Office of Management and Budget (OMB) in 2014 and now codified at 2 CFR Part 200—was intended to standardize administrative requirements, cost principles, and audit standards for all non federal entities receiving federal financial assistance.¹ The original promise of consistency, however, has steadily eroded.
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Feb 17, 2026
In December 2023, the FASB issued ASU 2023-09, which amends ASC 740, Income Taxes, to enhance the transparency and disaggregation of income tax disclosures. While many nonprofit organizations are tax-exempt under IRC Section 501(c) and therefore do not recognize income tax expense, the amendments are relevant to nonprofits with unrelated business taxable income (UBTI), taxable subsidiaries, or state and foreign tax exposure.
The ASU is disclosure-only and does not change recognition or measurement under ASC 740.
