Form 990: Exploring the Form's Complex Schedules

Code: F990A

Date Friday, November 8, 2019
Time 8:30am - 4:30pm
Central Time
Location Minnesota Society of CPAs
1650 W 82nd St Ste 600
Bloomington, MN 55431-1458
Map & directions
 
CPE credits CPE 8.0
Field(s)
of study
Taxes - Technical (8.0)
Instructor Eve Borenstein, JD
Harmon, Curran, Spielberg & Eisenberg, LLP c/o Eve Borenstein
Fees
Standard member fee $325.00
checkmarkStandard nonmember fee $375.00
AICPA member discount ($30.00)

Members: Please log in to receive member fee. To receive an AICPA discount (when available), check the box next to “I am an AICPA member.”

Description

Go beyond the core Form 990 so you can properly prepare the toughest schedules. Explore the advanced tax and not-for-profit issues related to Form 990 Schedules A, C, F, J, K, L, N and R, and gain real-world insights to help you accurately prepare them with more confidence. From transactions with certain insiders and disclosure of highly compensated individuals, to public support tests, foreign operations and more, this course clarifies the muddiest Form 990 issues.

Who should take this program?

CPAs, accountants, not-for-profit managers and attorneys who prepare or review Form 990

Major subjects

  • Key issues that affect how public charities are classified, and related Schedule A reporting
  • Various public policy realms Schedule C asks about
  • Complexity and problems with Schedule F's instructions
  • Schedule R -- identification and reporting of related organizations
  • Various types of "transactions with interested persons" disclosure requirements in Schedule L
  • Critical issues to avoid in Schedules K and N
  • Items to watch when completing Schedule J's Parts I and II

Learning objective(s)

  • Distinguish between the inflows of each of the public support tests and apply each test's calculations
  • Identify what makes a supporting organization and note their types and reporting obligations
  • Distinguish the reporting obligations of 501(c)(3) organizations with respect to lobbying vs. that of the proxy tax in place for 501(c)(4), 501(c)(5) and 501(c)(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

Notes:

Course code Code F990A
Sponsor MNCPA
NASBA ID#: 139884
Level Advanced
Format Group Live
Prerequisites Prereq. Basic knowledge of the core Form 990 Parts I-XII recommended.
Advance
prep
None