The New Form 990: Law, Policy, and Preparation
By admin • Jun 10th, 2009 • Category: Finance
The New Form 990: Law, Policy, and Preparation
by: Bruce R. Hopkins, Douglas Anning, Virginia Gross, Thomas Schenkelberg
en | Wiley
0470375051 9780470375051 0470430486 9780470430484 0470482710 9780470482711
The New Form 990: Law, Policy, and Preparation
By Bruce R. Hopkins, Douglas Anning, Virginia Gross, Thomas Schenkelberg
Publisher: Wiley
Number Of Pages: 622
Publication Date: 2009-01-09
ISBN-10 / ASIN: 0470375051
ISBN-13 / EAN: 9780470375051
Product Description
The New Form 990 covers the law, policy, and preparation of the new IRS Form 990. It includes summaries of the law underlying each of the parts and questions in the return, so that the preparer can understand the background law in formulating answers on the return. The subject matter is particularly timely and relevant given the release of the draft Form 990 last summer, the expected release of the final Form 990 in early 2008, and the commencement of the first tax year to which the form applies on January 1, 2008.
From the Inside Flap
The New Form 990 Law, Policy, And Preparation
The accurate and complete preparation of Form 990—the information return that must be filed annually by most types of tax–exempt organizations—is key to maintaining tax–exempt status, public image, and fundraising capabilities. In December 2007, the IRS released the newly redesigned Form 990. The publication of this significantly expanded return has created, and is creating, many new laws . . . and confusion. Recognizing that far too many nonprofit organizations are unprepared for what is coming their way, The New Form 990 channels its stellar author team′s decades of legal expertise to provide tax–exempt organizations and tax return preparers with the help they need to properly, effectively, and accurately prepare the new return.
Professionals working to prepare this new labyrinthine form are guaranteed to encounter many unexpected hurdles.Authors Hopkins, Anning, Gross, and Schenkelberg provide readers with guidance and a road map to help maneuver through the revised Form 990, including summaries of the law underlying each of the parts and questions in the return, so that tax–exempt organizations and their advisors can understand the background law whenformulating answers to the questions.
Deftly covering both pre–existing and newly created laws as well as discussions of policy and preparation, The New Form 990 brims with line–by–line analyses as well as numerous checklists of steps to take to be in the best possible position to prepare the return. Coverage includes:
Preparation of Parts I–XI and Schedules A–R
Compliance tasks
Checklist of schedules
Corporate governance
Compensation
Revenue, expenses, and balance sheets
Public charity status
Legislative activities
Reporting and disclosure requirements
Supplemental financial statements
Tax–exempt schools
Fundraising and gaming activities
Tax–exempt hospitals
Domestic grantmaking
Foreign activities
And more
The impact of Form 990 on the management, operations, and governance of most exempt organizations is massive. The New Form 990 is a beacon for organizations struggling to revamp their operations and upgrade their practices in order to complete this capacious new return.
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