Form 990

New Form 990: What’s Confusing Filers?

The redesigned Form 990 has been the subject of much discussion since the IRS released it in 2007, and several areas of confusion have been identified. This item highlights problems frequently encountered by practitioners, including many compensation issues.

IRS Raises Form 990 Filing Threshold

The IRS has raised the gross receipts threshold for Form 990, Return of Organization Exempt from Income Tax, from $25,000 to $50,000, allowing more tax-exempt organizations to avoid filing a full Form 990 or 990-EZ.

IRS Provides Relief for Small Tax-Exempt Nonfilers

The IRS announced that is providing relief for small tax-exempt organizations that are supposed to automatically lose their tax-exempt status because they failed to file Forms 990-EZ or 990-N for the years 2007, 2008, and 2009. Under a special one-time program, the IRS is giving those organizations until October 15,

Automatic Revocation of Tax-Exempt Status to Start Monday

Monday, May 17, is the deadline for calendar-year tax-exempt organizations to file their Forms 990 for 2009. It also marks the third filing deadline under the mandatory filing requirement instituted by the Pension Protection Act of 2006.

Newsletter Articles

TAX REFORM

Traps for the unwary: Tax Cuts and Jobs Act changes

By now many of us are familiar with the various provisions of the law known as the Tax Cuts and Jobs Act (TCJA), P.L. 115-97. Here is a list of changes together with (perhaps) unexpected nuances.

DEDUCTIONS

Qualified business income deduction regs. and other guidance issued

The package includes final regulations, guidance on how to calculate W-2 wages, a safe-harbor rule for rental real estate businesses, and new proposed rules on the treatment of previously suspended losses.