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Archive for the 'Non-Profits' Category

FEB. 14, 2010

The IRS has issued final 2009 versions of Forms 990 and 990-EZ, as well as their instructions. The IRS has also provided a detailed explanation of significant changes to the forms.

Form 990, Return of Organization Exempt From Income Tax, was extensively revised for 2008. The new Form 990 is designed to promote more uniform [...]

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By Barry VanderKelen
The end of the calendar year also marks the end of the fiscal year for many nonprofits. Starting next year, every nonprofit must file an annual return with the IRS. This filing will help track whether a nonprofit complies with prevailing regulations and, more importantly, whether any one registered organization is still in [...]

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Executive compensation compliance will continue to be in the crosshairs in 2008 for the Internal Revenue Service’s Exempt Organization Division (IRS-EO) after compliance checks this year turned up significant errors and omissions.
The IRS released its “FY 2008 Implementing Guidelines” Thursday, which detailed plans for next year while also reviewing accomplishments from the past year.
The EO [...]

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By ASK CPA

Q. What are the rules for non-profits that were established before 1970 regarding the 990? I get different answers from the IRS. [...]

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Trumbull, CT  06611

September 9 2007

Little noticed inside the pension community is a provision of the Pension Protection Act of 2006 that directly impacts reporting by tax-exempt organizations. What’s interesting is that required changes mandate important governance disclosures for churches and foundations and other non-profits. According to Guidestar.org, “Form 990-T was [...]

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WICHITA, Kan. (AP) — The pastor of a conservative Christian church being investigated by the Internal Revenue Service said the threat of losing its tax-exempt status will not stop the church from fighting abortion.
“We will continue regardless of what the IRS does,” said Rev. Mark Holick, pastor of Spirit One Christian Center. “We will continue [...]

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Anatomy of a 990

What can you learn from a nonprofit’s tax filing?
By Andrea Ball
AMERICAN-STATESMAN STAFF
Sunday, July 01, 2007
Everybody loves a good IRS Form 990.
Donors use them for research. Reporters inspect them for stories. Watchdog groups scour them for accountability.
But what is a 990? And what can you learn from it?
A 990 [...]

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