Form 990: Exploring the Form's Complex SchedulesMore Courses
1466165 | Webcasts & Webinars | Advanced | Scheduled
Mastery of the current Form 990 beyond its Core Form pages requires understanding of the Form's transparency demands relating to multiple complex issues: transactions with certain insiders; expanded disclosure of highly-comp'd individuals' calendar year compensation; identifying, and reporting in the presence of, "related organizations," nuances of the two "public support tests;" undertaking of foreign operations; and more. This webcast covers the most advanced tax and nonprofit issues that are the subject of the Form 990's Schedules. Participants will not only gain an understanding of the tax and practical points necessary to complete Schedules A, C, F, J, K, L, N and R of the current Form 990, but also be advised as to how to communicate with exempt clients on each of these Schedules' unique demands.
Basic Knowledge of the "Core Form" 990 Parts I-XII
CPAs, attorneys, and nonprofit managers
LEARNING OBJECTIVES When you complete this webcast, you will be able to:
Distinguish between the in-flows of each of the "public support tests," apply each test's calculations, and identify both what makes a "supporting organization" and note such entities' "Types" and attendant reporting obligations.
Distinguish the reporting obligations of 501(c)(3) organizations with respect to "lobbying" versus that of the "proxy tax" in place for 501(c) (4), (5), and (6) organizations; and note required "electioneering" reporting of all 501(c) entities.
Recognize the triggers by which Schedule F is mandated.
Recall the definitions of "Interested Persons" applied within each Part of Schedule L.
Recognize the expanded compensation reporting and "management practices" inquired of in Schedule J.
Appreciate both the need for bond counsel involvement in completing Schedule K and the diverse scenarios that trigger Schedule N.
Identify the common reporting disclosures required in the presence of "related organizations" and the unique reporting demands applied based on type of entity.
Key issues that affect how "public charities" are classified and related Schedule A reporting
The various public policy realms inquired of in Schedule C
Complexity and problems within Schedule F's instructions
Identification of, and reporting in Schedule R, of related organizations
The various types of "Transactions with Interested Persons" required to be disclosed in Schedule L
Critical issues to avoid in Schedules K and N
Items to watch when completing Schedule J's Parts I and II
Eve R. Borenstein
Eve has practiced law since 1985, operating for 15 years the Tax Exempt Law Office of Eve Rose Borenstein, LLC until that firm merged in 2004 into the then-created Borenstein and McVeigh Law Office (www.BAMlawoffice.com). Her practice in both firms has been dedicated to the unique tax and regulatory rules applied by the IRS and state agencies to “tax-exempt” organizations. Officed in Minneapolis, Eve consults with both CPAs and individual non-profits nation-wide; through 2014 she had represented just over 1000 tax-exempt organizations before the IRS. Eve represents medium and large organizations, typically on planning or IRS audits and correspondence, as well as organizations with gross revenues of less than $1,000,000 per year. [June '16]