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22WX-2694: Intro to Remaining "Most Common" Form 990 Schedules: D & G (Webinar)

If you have questions about this event, please call us at 952-831-2707.

Date Tuesday, December 27, 2022
Time 3:00pm - 5:30pm
Central Time
Location Online
CPE credits CPE 2.5
Field(s)
of study
Taxes - Technical (2.5)
Instructor Eve Borenstein, JD
Harmon, Curran, Spielberg & Eisenberg, LLP
Fees
Standard Member Fee $89.00
Standard Nonmember Fee $89.00

Description

Session 8 of Borenstein's Form 990 Foundational Series:

Schedule G is a top five "most common substantive'' Schedule as it details with more specificity than the Core Form a filer's revenue capture and the direct expenses from a filer's galas (i.e., fundraising events) and non-event fundraising sales, as well as reportings on the conduct of gaming activities. Schedule G also applies if the filer has used a professional fundraiser. Schedule D's parts are there to denote financial information as well as compliance points and/or data-capture the IRS seeks when a filer has certain assets on its balance sheet. Schedule D also requires input of audited financial statements' footnote specifying whether or not an uncertain tax position has been taken.

This session highlights not only what informs the IRS' inquiries in each of these Schedules, and also notes how the required disclosures are used by the IRS and State/local regulators as well as by the public at large.

This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Who should take this program?

Public accounting tax and audit staff, and nonprofit organization's Treasurers, CFOs and other finance/compliance advisors

Major subjects

  • Overview of what comprises a "fundraising event or sale"
  • Explanation of the low receipt thresholds by which Schedule G's Parts II (fundraising events and sales) and III (gaming) are invoked  
  • How Schedule G's Part II amplifies summary data inputted on Part VIII, Lines 1c, 8a and 8b 
  • Review of what constitutes gaming activity
  • Noting the underlying three tax issues that gaming activities implicate: potential unrelated business income tax, unmet payroll tax if volunteer worker/contractor status is improperly claimed, and wagering excise taxes
  • Discussion of what makes a provider a "professional fundraiser" and what information filers are responsible to report in Schedule G's Part I related to their use
  • Explanation of the entirety of Schedule D "triggers" employed upon the 990's Core Form Part IV 
  • Highlighting the common potholes Schedule D preparers face 

Learning objective(s)

  • Appreciate the need to work with gross fundraising events or sales revenues both on Core Form Part VIII and on Schedule G's Part II in order to not hide incorporated transactions 
  • Identify the various regulatory interests that filers conducting gaming are required to speak to on Schedule G's Part III 
  • Understand not only which types of assets generate application of Schedule D's multiple parts but also why those types have been singled out for additional disclosures

Notes:

Course code Code 22WX-2694
Sponsor CPA Crossings, LLC
NASBA ID#: 108744
Level Basic
Format Group Internet Based
Prerequisites Prereq. None
Advance
prep
None

If you have questions about this event, please call us at 952-831-2707.