Mastering Form 990 Schedule L: Reporting Transactions With Interested and Disqualified Persons
Note: CLE credit is not offered on this program
Recording of a 110-minute CPE video webinar with Q&A
This course will provide tax advisers to exempt organizations with a thorough and practical guide to completing Form 990 Schedule L, Transactions With Interested Persons, focusing on Parts II through V. The panel will explain the "reasonable effort" requirement to identify interested and disqualified persons, as well as determining reportable transactions. The webinar will also offer guidance on translating the form instructions onto Schedule L and include examples of completed Schedules showing required disclosures.
- Identifying interested persons
- Identifying reportable transactions
- Reasonable effort standard
- Completing Schedule L with examples
- Part I excess benefit transactions
- Loans to/from interested persons
- Grants or assistance benefiting interested persons
- Business transactions involving interested persons
- Best practices
The panel will discuss these and other essential aspects to completing Schedule L:
- How does the Service define "interested person" for Form 990 reporting purposes?
- Identifying information to report on Schedule L
- What is the "reasonable effort" standard that exempt organizations must meet in determining whether they must report a transaction?
- Determining when specific transactions warrant checking the box affirming engagement in an excess benefit transaction
Jennifer Becker Harris, CPA
Ms. Becker Harris concdentrates her practice on tax-exempt organizations. Her practice primarily focuses on consulting... | Read More
Ms. Becker Harris concdentrates her practice on tax-exempt organizations. Her practice primarily focuses on consulting and compliance for public charities and private foundations including international matters, alternative investments, unrelated business income tax, fundraising events, commercial co-venturers, corporate governance and IRS controversy. In addition, she assists individuals with charitable gift planning. Jennifer is a co-author and editor of the CCH Form 990 Compliance Guide, by Clark Nuber.Close
Connie M. Lira, EA
Ms. Lira practices in tax compliance for nonprofit organizations, including social service/public charities, higher... | Read More
Ms. Lira practices in tax compliance for nonprofit organizations, including social service/public charities, higher education, and private foundations, focusing on good governance, unrelated business income, and foreign reporting.Close