Exempt Organizations: New Restrictions on Filings, Contributions (Currently Unavailable)

Author: CCH Tax Law Editors

Changes and modifications in the methods and requirements related to the federal government’s oversight of tax-exempt organizations have increased in both scope and frequency lately, with that trend promising to continue into the near future. This course provides updates on the recent government oversight with respect to exempt organizations and charitable deductions, with particular focus on several areas in which the IRS has been especially active. Upon completion of this course, you will be able to: • Explain the simplified advance ruling process for exempt organizations
• Describe when and if Schedule K-1 information and Social Security numbers should be reported on Form 990
• Determine when a small organization can file a Form 990-N
• Demonstrate how to best search on Exempt Organization Select Check
• Explain the requirements to become a qualified nonprofit health insurance issuer, and how to participate in a Medicare Shared Savings Program through an accountable care organization
• Illustrate some of the important requirements relating to the conservation easement deduction and provide some pointers for drafting and implementing conservation easements that will help bypass IRS scrutiny

Publication Date: September 2012

Learning Objectives

• Explain the simplified advance ruling process for exempt organizations
• Describe when and if Schedule K-1 information and Social Security numbers should be reported on Form 990
• Determine when a small organization can file a Form 990-N
• Demonstrate how to best search on Exempt Organization Select Check
• Explain the requirements to become a qualified nonprofit health insurance issuer, and how to participate in a Medicare Shared Savings Program through an accountable care organization
• Illustrate some of the important requirements relating to the conservation easement deduction and provide some pointers for drafting and implementing conservation easements that will help bypass IRS scrutiny

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None