Form 990: Prepare Now for New IRS Demands

Description

The IRS recently performed its first major overhaul of Form 990, the annual public statement that non-profits must file, since 1979, in the name of improved transparency and compliance.

This means exempt organizations and advisors face new burdens: produce several new schedules that report financials, executive compensation and non-cash contributions; answer pointed IRS questions about internal controls; and take greater care listing expenses in functional categories.

Preparing to file the first new Form 990 will require a major commitment of time and resources from non-profits and their tax advisors. While the first Form 990 isn't due until 2009 for tax year 2008, advance work to become familiar with IRS expectations is critical.

Listen as our panel of authoritative tax advisors gives you the briefing you need to answer the questions posed in, and produce the statements and schedules required by, the new Form 990 appropriately, completely and efficiently.

Benefits

The panel explains and prepares you to react to these and other key issues:

• Understanding the new information required from the core form, and which of 14 associated schedules you will have to complete.
• Preparing to reveal governance information such as independent board members, delegation of managerial duties and conflict of interest policies.
• Determining which individuals must have their compensation reported.
• Reporting sensitive information such as excess benefit transactions and loans and grants involving staff or interested people.

CPE Credit

Strafford seminars qualify for CPE credits. They offer you a high quality, cost effective, and convenient CPE option, with no lost travel time or expenses.