990 Handbook: A Line-by-Line Approach

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Wiley, Apr 26, 2001 - Business & Economics - 240 pages
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Hands-on guidance to help nonprofits through the tax filing maze

Forms 990 provide a wealth of financial and programmatic information to enable government regulators, funders, journalists, and the interested public to measure a nonprofit's performance. A copy of the forms must be provided to anyone who asks; charities' forms are now posted for public view on the Internet courtesy of Guidestar.org. These forms are the most widely used tools for evaluating tax-exempt organizations. Schools, health and welfare organizations, business leagues, civic associations, museums, parent groups, garden clubs, private foundations, and the myriad of other nonprofit organizations recognized under section 501 of the federal tax code must file this form annually. Clear, correct, and concise preparation of Forms 990-EZ, 990, 990-PF, and 990-T is important, not only as financial documents, but also as a means of communicating an organization's mission and accomplishment to the public.

Demystifying the Forms 990 for financial professionals and nonprofessionals alike, this user-friendly handbook walks you through the federal tax compliance process to assure maintenance of tax-exempt status. Blazek is widely recognized for her ability to translate complicated concepts into understandable language and explain the why and how Forms 990 should be prepared. In this book, readers will find:
* Comprehensive, fill-in forms with line-by-line instructions including a synopsis of applicable tax issues
* Explanation of consequences of answers that can have several consequences
* Suggestions for dealing with the IRS as an organization grows and changes
* Ways to maximize deductions in calculating tax due on unrelated business income
* Tips for successful navigation of the interactive parts of Form 990-PF and reducing excise tax

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Contents

Chapter One Tools Concepts Filing
1
Form 8868
22
Chapter Three Form 990 Schedule
85
Copyright

6 other sections not shown

Common terms and phrases

About the author (2001)

JODY BLAZEK is a founding partner in a tax accounting firm that specializes in tax and financial planning for nonprofit organizations. In addition to Tax Planning and Compliance for Tax-Exempt Organizations, now in its third edition, she has authored two other books in the Nonprofit Tax Law and Compliance Series: Financial Planning for Nonprofit Organizations and Private Foundations, coauthored with Bruce Hopkins (all from Wiley) www.wiley.com/nonprofit

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