Form 990: Best Practices for Accurate Preparation - Tax Staff Essentials
Understanding the intricacies of Form 990 is crucial. You can learn actionable tips for accurate preparation as part of your Tax Staff Essentials bundle.
Format
Online
NASBA Field of Study
Taxes
Level
Intermediate
CPE Credits
11
Author(s)
AICPA and CIMA staff
Availability
1 year
Product Number
TSEF9B23SSO
Save when you buy the complete Tax Staff Essentials, Level 3 online bundle.
Breakdown Form 990’s components
Form 990 can be overwhelming. Exploring the form’s 12 core parts and 16 schedules will help you know where to begin. Key topics covered, include:
- A line-by-line analysis of the annual federal return for exempt organizations
- Explanations for accurate completion
- Changes in 1099-MISC and 1099-NEC reporting
Tips for accurate preparation
Practitioner advice covers:
- Appropriate sequencing (Form 990’s schedules don’t have to be filled out in alphabetical order)
- Saving precious time during Form 990 preparation
- Increased efficiency in reporting
Narrative questions decoded
Learners will understand:
- How to provide fuller answers when numbers are not enough
- Why the IRS asks specific questions about exempt entities’ operations
Note: This course covers the same material as the Form 990: Best Practices for Accurate Preparation stand-alone course.
This course provides 11 hours of credit in the Tax field of study.
Who Will Benefit
- CPAs with not-for-profit clients
- CPAs who work for not-for-profits
- Attorneys
- Not-for-profit managers
Key Topics
- Sequencing and completing the return
- Keys to getting Form 990 preparation correct the first time
- Program service accomplishments and reporting changes
- Reporting on managers and their compensation
- Further disclosures specific to an entity’s circumstances
- Related organizations
- Transactions with interested persons
- Other IRS filings and tax compliance
Learning Outcomes
- Identify filing requirements for Form 990, Form 990-EZ, and Form 990-N.
- Determine which types of exempt organizations are generally not required to file one of the three versions of Form 990.
- Identify where to report program service activities.
- Determine reporting differences between generally accepted accounting principles (GAAP) and Form 990.
- Determine best practices for completing Schedule A, Public Charity Status and Public Support.
- Identify what triggers the filing of Schedule G, Supplemental Information Regarding Fundraising or Gaming Activities.
- Recognize the purpose of Schedule O.
Group ordering for your team
2 to 5 registrants
Save time with our group order form. We’ll send a consolidated invoice to keep your learning expenses organized.
Start order6+ registrants
We can help with group discounts. Email client.support@aicpa-cima.com
US customers call 1-800-634-6780 (option 1)
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