Mastery of the current Form 990 beyond its Core Form pages requires understanding of the Form’s transparency demands relating to multiple complex issues. This seminar covers the most advanced tax and nonprofit issues that are subject to the Form 990’s schedules.
DESIGNED FOR
CPAs, attorneys, and nonprofit managers.
BENEFITS
Participants will not only gain an understanding of the tax and practical points necessary to
complete Schedules A, C, F, J, K, L, N and R of the current Form 990, but also be advised as to how to communicate with exempt clients on each of these Schedules’ unique demands.
HIGHLIGHTS
- Distinguish between the in-flows of each of the “public support tests,” apply each test’s calculations, and identify what makes a “supporting organization”
- Distinguish the reporting obligations of 501(c)(3) organizations with respect to “lobbying” versus that of the “proxy tax” in place for 501(c) (4), (5), and (6) organizations; and note required “electioneering” reporting of all 501(c) entities
- The triggers by which Schedule F is mandated
- The definitions of “Interested Persons” applied within each Part of Schedule L.
- The expanded compensation reporting and “management practices” inquired of in Schedule J
- The need for bond counsel involvement in completing Schedule K and the diverse scenarios that trigger Schedule N
- Common reporting disclosures required in the presence of “related organizations” and the unique reporting demands applied based on type of entity
COURSE LEVEL
Advanced
PREREQUISITES
Basic Knowledge of the “Core Form” 990 Parts I-XII.
ADVANCE PREPARATION
None
ADDITIONAL NOTES
*AICPA members deduct an additional $30 from applicable price.