2021 Form 990 Overview: A Walk thru of Form 990 and Common Schedules (Currently Unavailable)

Author: Carolyn Fjelstad, Clark Nuber, Sara Elizabeth H. Jones

Per the IRS Education Provider Standards this course must be COMPLETED by 12/31/2025 to receive credits. NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN card

In this course we will have a brief discussion on the different Forms available for annual compliance and their respective thresholds for filing. Most of our time will be dedicated to a detailed discussion on the Form 990, core pages, and the list of expansive schedules that may be included with yearly filing. We will select a few Schedules to have further detailed discussion on and the remainder will be a brief explanation of purpose.

Publication Date: April 2022

Designed For
CPAs, enrolled agents, tax return preparers, tax attorneys and financial advisors who work with not-for-profit organizations, CFOs, bookkeepers, staff accountants, and board members.

Topics Covered

• Filing requirements
• Detail of the Core Form 990
• Schedules

Learning Objectives

• Identify the requirements for annual compliance and be able to identify the correct form depending on the activity of an organization
• Gain familiarity of the Form 990
• Identify and differentiate which Schedules are required annually
• Identify the extension period beyond the original filing date for organizations below the Form 990-EZ gross receipts thresholds
• Identify the schedule used for additional explanation related to core form disclosures that don't fit on the face of the form
• Identify an example of an officer of an organization (i.e., not an officer of a board)
• Identify the schedule used to disclose transactions with interested persons
• Identify the schedule that is specific to hospitals

Level
Overview

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None