2023 Form 990 Schedules:  A Deeper Dive into Common Schedules (Completed)

Date: Thursday, July 11, 2024
Instructor: Clark Nuber, Lisa McCreedy, Sarah Huang
Begin Time:  11:00am Pacific Time
12:00pm Mountain Time
1:00pm Central Time
2:00pm Eastern Time
CPE Credit:  2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC

NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN card

With the exception of Schedule B, the Form 990 and its related schedules are open for public disclosure. Thus, organizations have a duty to not only present accurate financial information and show their due diligence in maintaining strong governance practices, but also that they are meeting other compliance standards. In this session, we will take a deeper dive into some of the common and complex schedules filed with the Form 990. Join us to discuss how organizations can take ownership to retain acceptable public support levels, meet the compliance requirements for donor acknowledgement, and provide transparency in disclosures to give readers insight into their activities.

Who Should Attend
TBD

Topics Covered

  • Tax deductibility of contributions from fundraising events
  • Completion of fundraising event activities on Form 990
  • Charity responsibilities
  • Donor acknowledgment
  • Public support tests
  • Compensation reporting for trustees, directors, officers, key employees, and highly compensated individuals
  • Identification of interested persons
  • Reporting thresholds, exceptions, and required disclosures for Schedule L transactions
  • Relationship and impact between Schedule L and other parts of the Form 990

Learning Objectives

  • Understand the importance of documenting and gathering the necessary information to achieve compliance with federal tax laws
  • Recognize the reporting requirements for fundraising activities and transactions with interested persons
  • Prepare proper donor acknowledgment letters
  • Identify when penalties apply
  • Understand factors that may or may not impair the independence of a voting board member
  • Describe the relationship between the responses on the Form 990 and related schedules

Level
Intermediate

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
Basic knowledge of annual compliance for tax exempt organizations.

Advance Preparation
None

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