tim-mooney.com » Form 990

New Form 990 instructions

Tim Mooney — Wed, 09 Apr 2008 00:42:00 +0000

Considering the new form is not to be filed until 2009, it might be a bit premature for most people to take a peek, but if you want to see what next year’s Form 990 instructions look like, the IRS is ready to show you… here. More on this from the Chronicle.

When the IRS will audit your nonprofit

Tim Mooney — Thu, 07 Feb 2008 16:34:00 +0000

The IRS recently released Fact Sheet 2008-14, in which it spelled out when your nonprofit might be considered for an examination of its activities:

To determine which organizations should be targeted, experienced specialists analyze information from Forms 990 and other sources. This analysis will usually result in the selection of a group of returns for examination or compliance check. EO also reviews media reports and receives complaints from the general public and Congress about potential non-compliance by exempt organizations. After confirming the information, and when appropriate, these organizations may be selected for examination or to receive a compliance check.

This isn’t terribly earth-shattering news… basically the IRS says that it looks at 990s, media reports and complaints, which most in the community already assumed. It’s good to have it documented officially, however.

Nonprofit Law Podcast #27: Reporting Changes to the IRS

Tim Mooney — Mon, 14 Jan 2008 22:26:00 +0000

The latest Nonprofit Law Podcast is on the air… in number 27 we take a look at reporting changes to the IRS.

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File your 990s

Tim Mooney — Mon, 14 Jan 2008 22:18:00 +0000

If you don’t file your Form 990 – assuming you’re required to (some organizations are exempt) – you may have more than the IRS to answer to. You might find yourself at the other end of a press expose. The latest example? The 50-year old civil rights organization Southern Christian Leadership Conference just had its failure to file spread across the pages of the Atlanta Journal-Constitution. This is a PR blow you don’t want you or your clients to take… just a reminder, if your nonprofit follows an end of the calendar-year fiscal year, your 990 is due May 15th…

Nonprofit law Podcast #25: End of the year guide to recordkeeping

Tim Mooney — Tue, 18 Dec 2007 16:16:00 +0000

The podcast got a nice mention by Texas Nonprofits in an article on their site… check it out here.

This is all just in time for the latest Nonprofit Law Podcast… in number 25 we take a look at end of the year recordkeeping tips for nonprofits.

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Lots of great nonprofit resources

Tim Mooney — Thu, 29 Nov 2007 17:10:00 +0000

This month’s edition of Harmon Curran’s Navigator is full of great information:

IRS Releases Variety of New Guidance for Exempt Organizations

IRS Issues New Guidance on Valuing Donated Property

IRS Publishes FAQ Sheet for E-Postcard Filing

IRS and Independent Sector Issue Good Governance Guidelines for Charitable Organizations

Check it out at harmoncurran.com/navigator.

New 990 on the way

Tim Mooney — Tue, 27 Nov 2007 17:06:00 +0000

I’ve posted over the past few months about the soon-to-come new Form 990 that most nonprofits will have to use starting in 2009. The Chronicle of Philanthropy reports that the IRS is implementing changes from the comments filed earlier this year from the nonprofit community. The final version should be available as early as December.

IRS gearing up for new Form 990

Tim Mooney — Tue, 13 Nov 2007 19:12:00 +0000

Check out today’s New York Times article on how the 990-N will “weed out deadwood” charities”…

Comments on IRS Form 990

Tim Mooney — Sat, 15 Sep 2007 02:36:00 +0000

Alliance for Justice filed comments on the new Form 990… check out the full scoop here (PDF). The highlights are:

1) Lobbying reporting is expanded in confusing and inconsistent ways
2) The definitions of key terms are inconsistent with their current interpretations
3) The IRS questions improperly interfere with the internal governance and management of nonprofits
4) The IRS failed to address special reporting problems that are unique to 527 organizations

We’ll see if the IRS addresses AFJ’s issues when they respond to comments later in 2007 or early 2008.

Form 990 junkies, take note…

Tim Mooney — Tue, 14 Aug 2007 21:41:00 +0000

If you’re interested in more on the future of Form 990 (the annual tax return form for many nonprofits), Alliance for Justice has scheduled a telephone conference that might be up your alley…

The call will focus on lobbying, political activities, and corporate governance that will be a part of AFJ’s comments to the IRS. RSVP to Kyle Murphy at kyle(at)afj(dot)org by August 20 at 4pm ET. Instructions will be forwarded to all registrants on that date.