The object of this course is to train both new and experienced staff accountants and other preparers to deal with the challenges of filing the Form 990 series of tax returns. You’ll learn strategies to expedite the preparation of the return, electronic filing requirements, and how to navigate complex nonprofit taxation issues.
Other topics covered include:
• Preparation of the required summary of the organization’s mission, activities, and financial results
• Statement of program service accomplishments
• Statements regarding other IRS filings and tax compliance
• Governance, management, and disclosure information regarding governing bodies
• Compensation schedules for officers, directors, and key employees
• Supplemental financial statements
• Schedule of activities outside of U.S.
• Supplemental information relating to fundraising or gaming activities
• Grants or other assistance to organizations, governments, and individuals
• Transactions with interested persons that engage in certain relationships or transactions
• Noncash contributions
• Political expenditures and lobbying restrictions
• Reconciliations between book and tax returns Learning Objectives
Develop strategies to expedite the preparation of the return.
Effectively market the organization through the creation of strong narratives which are positively read by foundations, donors, government agencies, media, and others.
Discuss complex issues related to nonprofit taxation issues which are reported on the Form 990.
Describe IRS and state issues, including penalties, dissolution, examinations, and improper classification of tax exempt status.
Stuart “Stu” Sobel combines an in-depth knowledge of taxation and nonprofits with an ability to communicate clearly. A dynamic speaker, Stu seeks to help people understand the very complex world of taxation in every day terms. And he’s just the person to do it — Stu has been in the industry for 48 years. He worked in examination and high level positions at the IRS for 30 years. Following that, Stu spent nine years as the producer and host of his own nationally syndicated radio program called Wise Choices: Taxes and Charity Today. He also ran his own tax and nonprofit consulting firm for 12 years (Stuart Sobel Consulting, Inc.). He has helped create over 2,500 nonprofit organizations worldwide. His expertise on the topic of nonprofit taxation has earned him the title “The Guru of Giving.”
CPAacademy.org (Sponsor Id#: 111889) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
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