December 1, 2020 8:00am – 3:30pm Map & Directions 602-252-4144

Webcast: Form 990: Exploring the Form's Complex Schedules

Online registrations are currently closed, please call (602) 324-6847 for additional registration options

Description

Mastery of the current Form 990 beyond its Core Form pages requires understanding of the Form's transparency demands relating to multiple complex issues: transactions with certain insiders; expanded disclosure of highly-comp'd individuals' calendar year compensation; identifying, and reporting in the presence of, "related organizations," nuances of the two "public support tests;" undertaking of foreign operations; and more.

This course covers the most advanced tax and nonprofit issues that are the subject of the Form 990's Schedules. Participants will not only gain an understanding of the tax and practical points necessary to complete Schedules A, C, F, J, K, L, N and R of the current Form 990, but also be advised as to how to communicate with exempt clients on each of these Schedules' unique demands.

Location

ASCPA Live Online Webcast
Phoenix, AZ 85034-6617

Registration Time

7:30am

Fees

Member:
$300
Non-CPA Staff:
$400
Non-CPA Staff (100% club):
$300
Non-CPA Staff (sole proprietor):
$300
Non-Member:
$400
Webcast
Taxation
8

Objectives

  • Distinguish between the in-flows of each of the "public support tests," apply each test's calculations, and identify both what makes a "supporting organization" and note such entities' "Types" and attendant reporting obligations.
  • Distinguish the reporting obligations of 501(c)(3) organizations with respect to "lobbying" versus that of the "proxy tax" in place for 501(c) (4), (5), and (6) organizations; and note required "electioneering" reporting of all 501(c) entities.
  • Recognize the triggers by which Schedule F is mandated.
  • Recall the definitions of "Interested Persons" applied within each Part of Schedule L.
  • Recognize the expanded compensation reporting and "management practices" inquired of in Schedule J.
  • Appreciate both the need for bond counsel involvement in completing Schedule K and the diverse scenarios that trigger Schedule N.
  • Identify the common reporting disclosures required in the presence of "related organizations" and the unique reporting demands applied based on type of entity.

Course Level

Advanced

Vendor

AICPA More With This Vendor

Designed For

CPAs, attorneys, and nonprofit managers

Prerequisites

Basic Knowledge of the "Core Form" 990 Parts I-XII.

Event Leaders

Blunt, Brenda Ann

Rating: 4.81


Brenda A. Blunt has over 30 years of experience providing services to tax-exempt entities, closely-held business and their stakeholders. She provides income tax compliance and planning for individuals, corporations, partnerships and tax-exempt entities and represents clients before the Internal Revenue Service and state taxation authorities. Tax-exempts and their related entities comprise approximately 90% of her clients. She helps these clients, in particular, comply with and plan for sales, payroll and property taxes; consults with them regarding the tax and accounting impact of multiple-entity structures; helps with international tax issues; works with them to establish or reinstate their status as tax-exempt and helps them plan for the tax aspects of unrelated business income and executive retirement. Brenda is a frequent teacher nationally, locally and at the organization level on topics that include health care reform, board responsibilities, tax compliance, strategic planning, and financial management principles for nonprofits.

Blunt currently represents almost 200 nonprofit organizations ranging in size from formation-stage organizations to multi-million organizations with international reach. Her client base includes public charities, private foundations, trade associations, social welfare organizations, cooperatives and unions. She is passionate about working with organizations in the nonprofit sector, in no small part because of their passion to make the world she lives in a better place.


More With Blunt, Brenda Ann

Highlights

  • Key issues that affect how "public charities" are classified and related Schedule A reporting.
  • The various public policy realms inquired of in Schedule C.
  • Complexity and problems within Schedule F's instructions.
  • Identification of, and reporting in Schedule R, of related organizations.
  • The various types of "Transactions with Interested Persons" required to be disclosed in Schedule L.
  • Critical issues to avoid in Schedules K and N.
  • Items to watch when completing Schedule J's Parts I and II.

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