Form 990 is the chief compliance tool used by the IRS to monitor compliance of tax-exempt, not-for-profit (NFP) entities. In this CPE course, you will learn how to prepare Form 990 as you consider real-world examples and apply that knowledge through interactive e-learning exercises. Also discussed are practice tips, common errors, and potential red flags that could lead to an IRS audit.
▪ Identify the process to prepare the Form 990 core form.
▪ Recall the structure of the core Form 990.
▪ Determine the correct amount(s) and line item(s) for core Form 990 reporting
▪ Filing requirements and late filing penalties
▪ Reasonable cause abatement
▪ Preparation tips
▪ Program service accomplishments
▪ Required disclosures
▪ Reportable compensation
▪ Statement of Revenue
▪ Statement of Functional Expenses
▪ Fundraising events
▪ Reconciling to GAAP basis financial statements
▪ Potential red flags
▪ Common errors and potential pitfalls
CPAs, financial professionals and NFP staff and board members looking to deepen their existing knowledge of NFP financial responsibility, and set themselves apart as a leader in this field