CPE: 4 hours
Advanced prep: None
Who should attend: CPAs who work with exempt organizations and professionals working for exempt organizations who are responsible for filing Form 990.
If you're preparing Form 990, you'll need to be aware and understand the implications of issues beyond merely completing a return. Get an overview of Form 990, including both the core form and Schedules A-G and I-R. In addition, get acquainted with intermediate sanctions, direct and grassroots lobbying, as well as the expenditures test, public support,pro quo and the unrelated business income tax. We'll also take a look at federal, California or other state filing requirements for tax-exempt organizations, including Form 990-T, Exempt Organization Business Income Tax Return, and state charitable filings.
This course will be beneficial for individuals preparing Form 990 for publicly supported charities, social welfare organizations, trade associations and labor unions.
- Recognize the significance of a complete Form 990.
- Identify the different lobbying activities and their implications for different types of tax-exempt organizations, and how much lobbying is too much for charitable organizations.
- Determine the implications of Form 990, Schedule A Public Support
- Identify the significance of intermediate sanctions rules, applicability and requirements for use of the safe harbor.
- Recall the unrelated business income tax.
- Recognize donor benefit rules for Form 990 and receipting contributions to charitable organizations.
- Form 990 Core Form and Schedules A-G and I-R
- Reporting lobbying for different types of tax-exempt organizations
- Public support
- Donor benefit reporting
- Unrelated business income tax (UBIT)
- State reporting