Form 990: Best Practices for Accurate Preparation - Tax Staff Essentials

Overview

Understanding the intricacies of Form 990 is crucial. You can learn actionable tips for accurate preparation as part of your Tax Staff Essentials bundle.

Highlights

Key Topics

• Sequencing and completing the return
• Keys to getting Form 990 preparation correct the first time
• Program service accomplishments and reporting changes
• Reporting on managers and their compensation
• Further disclosures specific to an entity's circumstances
• Related organizations
• Transactions with interested persons
• Other IRS filings and tax compliance

Prerequisites

Experience in business taxation and nonprofits

Designed For

Who Will Benefit

• CPAs with not-for-profit clients
• CPAs who work for not-for-profits
• Attorneys
• Not-for-profit managers

Objectives

Learning Outcomes

• Identify filing requirements for Form 990, Form 990-EZ, and Form 990-N.
• Determine which types of exempt organizations are generally not required to file one of the three versions of Form 990.
• Identify where to report program service activities.
• Determine reporting differences between generally accepted accounting principles (GAAP) and Form 990.
• Determine best practices for completing Schedule A, Public Charity Status and Public Support.
• Identify what triggers the filing of Schedule G, Supplemental Information Regarding Fundraising or Gaming Activities.
• Recognize the purpose of Schedule O.