Form 990 & Tax Exempt Org. Update

Authored by Jane Searing
About this Course
Topics Covered: Updates on Form 990, common errors and areas of financial risk to reporting organizations; Evaluation of revenue for exemption, public support and, unrelated business income; Recent IRS guidance including: o IRS Priority Guidance Work Plan o Updated thresholds for fundraising and low-cost items and mileage rates o IRS reorganization o Significant developments around donor acknowledgment, including adverse determinations on deductibility of certain contributions and the allowance of contributions to disregarded entities; Proposed tax reform impact on charities. Upon completing this course, you should be able to: Discuss the changes from recent tax developments that affect non-profit organizations; Identify reporting and compliance requirements and tax planning opportunities to discuss with clients as a result of recent tax developments; Recognize and apply key reporting challenges affecting Non-Profit Organizations; Differentiate errors that are commonly made when completing Form 990; Identify why qualifying as a section 170(b)(1)(A)(vi) organization is beneficial; Recognize required disclosures on Schedule L; Identify what the IRS typically looks for when conducting an examination of an exempt organization; Differentiate which items are not required by the IRS in regard to the donor acknowledgement letter; Recognize why exempt organizations which may suffer under the proposed tax legislation; Describe when an organization is not required to report information on Schedule R; Identify which type of donor transaction a donation of a partnership that has debt results; Recognize when the income must be earned to avoid being classified as unrelated business income (UBI); Describe when organizations that use Form 1023-EZ typically have; Identify which Sections are awaiting final regulations from the IRS; Differentiate which reductions will apply for 2017; Recognize which schedule all organization that file Form 990 must complete; Identify agricultural research organization requirements; Recognize who is responsible for determining where to report transactions on Schedule L (Part I, II, III, or IV).
$ 75.00
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NASBA Field of Study
Taxes
Level
Update
CPE Credits
2.0
Prerequisites
None
Last Updated
01/25/2018
11867