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The New Form 990

Navigate IRS Form 990 – learn about the critical issues every nonprofit needs to know. Walk through the IRS Form 990 and get the expert knowledge you need to file correctly. Exempt organizations' tax forms have become more important as they’re scrutinized by the IRS, Congress, the media, competitors, disgruntled employees and others. Purchase these reference materials and make sure you’re presenting your filings correctly. You will get a review of the underlying tax exemption principles involved, learn the procedural details and walk through how various items are reported on Form 990. These reference materials will explain what the answers mean in light of the tax principles and – perhaps more importantly – how they might be perceived by the general public. Order today. Benefits for You •Receive expert advice on disclosure and audit issues •Take the headaches out of Form 990 procedural considerations •Avoid common errors in reporting income, expenses and activities •Understand the current governance requirements for nonprofit organizations Learning Objectives •You will be able to discuss Form 990 procedural considerations. •You will be able to describe tax exempt organizations. •You will be able to explain public charity status. •You will be able to review Form 990 schedules.
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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Overview of Tax-Exempt Organizations
— Louis E. Michelson, Esq.
  • Tax-Exemption Requirements and Classification of Tax-Exempt Organizations
  • Policy Considerations
  • Public Charity vs. Private Foundation
  • Purposes of Form 990
Form 990 Procedural Considerations
— Lawrence M. Lebowsky, Esq. and Louis E. Michelson, Esq.
  • Filing Requirements; Common Errors and Penalties
  • Private Foundations: Form 990-PF
  • E-Filing of Form 990 (And Schedules)
  • Form 990-N
  • Recent Developments
Walk Through of Form 990: Income
— Louis E. Michelson, Esq.
  • Exempt Function vs. Grants
  • Special Events and Schedule G
  • Analysis of Income Producing Activities
  • Unrelated Business Income
  • Investment Income
  • Schedule B – Schedule of Contributors
  • Schedule M – Noncash Transactions
Walk Through of Form 990: Expenses and Activities
— Lawrence M. Lebowsky, Esq.
  • Statement of Functional Expenses
  • Joint Costs
  • Fundraising and Program: Expenses and Revenues
  • Common Errors
  • Program Services Accomplishments
  • Schedule J: Compensation Information
  • Statements About Activities
Public Charity Status and Public Support: Schedule A
— Louis E. Michelson, Esq.
  • Elimination of Advance Ruling Period
  • Donative vs. Exempt Function Charities
  • Facts and Circumstances Factors
  • Common Errors
  • Planning
Political and Lobbying Activities – Schedule C
— Lawrence M. Lebowsky, Esq.
  • No Substantial Part Test for Lobbying
  • Political Campaign Prohibitions and Permissions
  • Lobbying and the Section 501(h) Expenditure Test
  • Contribution Acknowledgments
Form 990 Schedules
— Lawrence M. Lebowsky, Esq. and Louis E. Michelson, Esq.
  • Schedule F – Activities Outside U.S.
  • Schedule L – Transactions With Interested Persons
  • Schedule N – Liquidation, Termination and Dissolution or Significant Disposition of Assets
  • Schedule R – Related Organizations and Unrelated Partnerships
  • Schedule O – Supplemental Information
Governance
— Lawrence M. Lebowsky, Esq. and Louis E. Michelson, Esq.
  • Form 990 Part VI
  • Governing Body and Management
  • Policies
  • Disclosure
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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

Online Manual

No credit available.

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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

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Lawrence M. Lebowsky, Esq.

Law Offices of Lawrence M. Lebowsky

  • Attorney with The Law Offices of Lawrence M. Lebowsky
  • Certified specialist in estate planning, trust and probate law by the State Bar of California Board of Legal Specialization
  • Focuses on income tax planning, estate planning, compensation and other tax issues for tax-exempt organizations
  • Adjunct professor at Southwestern Law School teaching federal income taxation, and estate planning and drafting
  • LL.M. degree in taxation, Boston University School of Law; J.D. degree, Southwestern Law School; B.A. degree in economics, University of California, Los Angeles
Louis E. Michelson, Esq.

Louis E. Michelson, Esq.

Law Offices of Louis E. Michelson, A Professional Corporation

  • Founder of the Law Offices of Louis E. Michelson, A Professional Corporation
  • Practice includes formation, board governance and tax issues for tax-exempt organizations and income tax planning to businesses in corporate, partnership and LLC structures
  • Represents clients in connection in tax disputes before tax authorities
  • Instructor for UCLA Extension on taxation of nonprofit organizations
  • Writes and speaks frequently on federal and California tax topics
  • J.D. degree, UCLA School of Law
  • Can be contacted at 310-843-0700 or [email protected]
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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 391555
Published 2013
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