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In basic terms, Form 990 is the annual federal return that is required to be filed by all types of exempt organizations. The course takes the participant through the basics of Form 990. It covers the complete form and all the accompanying schedules. The course goes line by line through the Form 990 and offers

explanations and tips for accurate completion. Participants will gain an understanding of the tax and practical points essential to completion of the Form 990 which has a 12-page core form and 16 schedules.

 

Learning Objectives:

-Identify the filing requirements for Form 990, Form 990-EZ, and Form 990-N.

-Determine best practices for completing the core form.

-Recognize risks in preparing Form 990 and identify certain reporting red flags.

-Identify 990 definitions and tax conventions employed in reporting on all aspects of financial statements (Parts VIII, IX, and X).

-Recognize how to prepare for the most common Schedules that typically apply to 990 filers: identification of public charity status (Schedule A); reporting on donors (Schedule B); financial statement line items (Schedule D); reporting on fundraising events, gambling, and use of professional fundraisers (Schedule G); grant-making (Schedule I); and capture of property (""non-cash"") contributions (Schedule M).

 

Designed For: CPAs, attorneys, and nonprofit managers

This virtual seminar is being offered through our partnership with Midwest State CPA Societies. You will launch from your MyOSCPA learning center day of and be prompted to enter in name and state society at time of entering.

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