2021 Form 990 Overview: A Walk thru of Form 990 and Common Schedules
Author: Carolyn Fjelstad, Clark Nuber, Sara Elizabeth H. Jones
| CPE Credit: |
2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC |
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
