2016 - Preparing the Challenging Form 990 - Edition - Book - DIGITAL VERSION DOWNLOAD

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2016 - PREPARING THE CHALLENGING FORM 990 - BOOK

The object of this book is to train both new and experienced staff accountants and other preparers to deal with the challenging aspects relating to the filing of the Form 990 series of tax returns.  This course offers a practical, hands-on approach to completing some of the most difficult tax forms.  Prior editions of the book has been used to train thousands of tax and nonprofit professionals worldwide.  Stu Sobel has worked with thousands of nonprofit organizations worldwide.  The book shares his nearly 50 years of tax and nonprofit wisdom.  He is referred to by the media as the “Guru of Giving”.  The book was first written in 2009 and this is the eighth edition.


Major Topics:

  • Filing requirements for Forms 990 and 990EZ with phased in thresholds 
  • Coverage of Unrelated Business Taxable Income situations
  • Electronic filing requirements 
  • Preparation of the required summary of the organization’s mission, activities, and current and prior years’ financial results 
  • Statement of program service accomplishments – reporting of new, ongoing, and discontinued achievements and their related revenue and expenses 
  • Statements regarding other IRS filings and tax compliance 
  • Governance, management, and disclosure – information regarding governing body and its management, policies, and disclosure 
  • Compensation schedules for officers, directors, and key employees 
  • Supplemental financial statements – support balance sheets, endowments, donor advised funds 
  • Schedule of activities outside of U.S. – breakdowns 
  • Supplemental information relating to fundraising or gaming activities 
  • Grants or other assistance to organizations, governments, and individuals 
  • Transactions with interested persons that engage in certain relationships or transactions 
  • Non-cash contributions 
  • Political expenditures and lobbying restrictions 
  • Reconciliations between book and tax returns 
  • …and much more


Learning Objectives:

  • Understand how to develop strategies to expedite the preparation of the return and how to effectively market the organization through the creation of strong narratives which are positively read by foundations, donors, government agencies, media, and others
  • Understand the more complex issues dealing with nonprofit taxation issues which are reported on the Form 990. Issues include excess benefit transactions, intermediate sanctions, international issues, joint ventures, conflicts of interest, and unrelated business income
  • Understand IRS and State controversy issues including penalties, dissolution, examinations, and improper classification of tax exempt status
  • Identify planning strategies for clients to improve in the future.


Designed For:  All preparers of Form 990
Level:  Basic

Prerequisites:  Experience in the nonprofit sector and assisting taxpayers in such areas as improving their internal control, ethical practices, and fund raising practices.

 

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