Form 990 Challenges for Tax Advisers to Nonprofit Entities

Identifying Areas of IRS Scrutiny in Exempt Organization Tax Return and Schedules

Recording of a 110-minute CPE webinar with Q&A


Conducted on Thursday, October 24, 2019

Recorded event now available

or call 1-800-926-7926
Program Materials

This webinar will provide advisers to nonprofit and exempt organizations with a practical guide to navigating some of the more challenging aspects of completing Form 990. The panel will examine recent IRS changes to Form 990 instructions, discuss areas of heightened scrutiny based on the Service's 2018 Work Plan for Tax-Exempt Organizations, and offer useful guidance in tackling some of the more complicated 990 schedules.

Description

Form 990, Return of Organization Exempt From Income Tax, vexes even seasoned tax compliance professionals. Tax advisers to nonprofits and exempt organizations must navigate frequent changes to Form 990, including schedules and instructions. In addition, exempt organization filers face heightened scrutiny from the IRS and the public.

The IRS recently began using data analytics to identify critical areas for examination. The most recent IRS report indicates a near 90% change rate in Form 990 examinations, suggesting the Service is more efficient in identifying red flags for exempt organization tax returns. Tax advisers must stay up to date on the filing requirements and risk areas when filing the return.

The Service published its 2018 Work Plan for Tax-Exempt Organizations, stating it will pay particular attention to supporting organizations, organizations that operated as for-profit entities and are now 501(c)(3)s, and organizations that show signs of providing private inurement to individuals or others. The IRS continues to focus on UBIT exposure and employment tax issues. Advisers to nonprofits must adeptly navigate Form 990 schedules to avoid costly errors.

Listen as our experienced panel provides a practical guide to some of the more difficult compliance challenges on Form 990.

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Outline

  1. Structure of Form 990 schedules
  2. 2018 changes to Form 990 and instructions
  3. IRS exempt organization 2018 work plan areas of focus
  4. UBIT issues
  5. Identifying problem transactions
  6. Impact of new accounting standards on Form 990 compliance

Benefits

The panel will tackle these and other key topics:

  • Changes in Form 990 for ASC958, uniform guidance, and recent pronouncements
  • IRS compliance considerations for nonprofit organizations
  • Lessons from Form 990 examinations in prior years
  • Best practices for Form 990 clients

Faculty

Czerniawski, Magdalena
Magdalena M. Czerniawski, CPA, MBA

Tax Director
Marks Paneth

Ms. Czerniawski is a member of the firm’s Nonprofit, Government & Healthcare Group. With over 15 years of...  |  Read More

Lyons, Robert
Robert Lyons, CPA, MST

Tax Director
Mark Paneth

Mr. Lyons is a Tax Director, Exempt Organizations in the Nonprofit, Government & Healthcare Group at Marks Paneth...  |  Read More

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