EO Update March 4, 2013

EO Update March 4, 2013: 3. 2012 Form 990 and 990-EZ – Significant changes

This chart summarizes significant changes to the Form 990, Form 990-EZ, schedules and instructions for tax year 2012.

What you need to know about the IRS Form 990 � The Trust Blog

What you need to know about the IRS Form 990 � The Trust Blog: Let’s face it: the IRS Form 990 can be confusing. It’s also the most valuable source of information when it comes to digging into a nonprofit. It’s provides information on the filing organization’s mission, programs, and finances.

Why Fundraisers Need to Understand Tax Forms - Prospecting - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas

Why Fundraisers Need to Understand Tax Forms - Prospecting - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas: Fundraisers may not have to fill out their charity’s informational tax return for the Internal Revenue Service, but they need to know what’s in it, said a speaker at the Association of Fundraising Professionals meeting in Vancouver this week.

Audrey Kintzi, senior development director at St. Mary’s University of Minnesota, told fundraisers it’s no long acceptable to say they don’t have anything to do with the informational returns, known as Form 990s.

Form 990 – Threshold Requirements Reminder

Form 990 – Threshold Requirements Reminder: As the time for calendar year nonprofits to file their annual tax return approaches, many nonprofits will need to remember which Form 990 their organization is required to file. As a refresher, the Form 990, Form 990 E-Z, and Form 990-N filing thresholds depend on the exempt-organization’s revenue and assets as follows:

Small Nonprofit Organizations: A Profile of Form 990-N Filers

Small Nonprofit Organizations: A Profile of Form 990-N Filers: "ABSTRACT
In an effort to keep better track of nonprofit organizations, the Pension Protection Act of 2006 mandated that the more than 714,000 nonprofits with gross receipts less than $25,000 needed to file the new Form 990-N, also known as the e-Postcard. This new form requests basic information such as an organization's address, officer name, and website and is the first data to ever be collected on the smallest nonprofit organizations.

This brief provides an overview of the new 990-N filing requirement, profiles the organizations filing the 990-N, compares 990-N filers to larger filers, and provides a brief look at small nonprofits reporting terminations on Form 990-N."

New Video Series Helps Exempt Organizations Understand Redesigned Form 990 Requirements | Planned Giving Design Center

New Video Series Helps Exempt Organizations Understand Redesigned Form 990 Requirements | Planned Giving Design Center: "To help illustrate key points and answer important questions about the new Form 990, the IRS’ Exempt Organizations Division developed “The New Form 990: Getting Started,” a case study about a hypothetical organization – Exempt Organization for Disaster Relief (EODR)."

Understanding bonds and the new Form 990 | Philanthropy Journal

Understanding bonds and the new Form 990 | Philanthropy Journal: "The revised IRS Form 990, specifically the new Schedule K, requires increased reporting from nonprofits regarding their outstanding bond issues."

Charity Board Members Inspect New Tax Forms - WSJ.com

Charity Board Members Inspect New Tax Forms - WSJ.com: "Charities' board members and staffs need to pay close attention to new, more detailed disclosure requirements in their annual filing with the Internal Revenue Service -- or risk hefty penalties.

The revised Form 990 underwent its first big overhaul in decades and has a greater emphasis on board governance, transparency and accountability. The forms are due four months and 15 days after the close of a charity's fiscal year, which comes on May 15 for many charities. Officers who sign these forms are liable for any false statements."

GuideStar - News - Articles - Half a Million Nonprofits Could Lose Their Tax Exemptions

GuideStar - News - Articles - Half a Million Nonprofits Could Lose Their Tax Exemptions: "Half a Million Nonprofits Could Lose Their Tax Exemptions

Did you know that in May 2010, half a million nonprofits could find themselves stripped of their exempt status? The IRS estimates that that's the number of smaller organizations that have failed to file a Form 990-N."

Nonprofit Strategies: Get ready for the new IRS Form 990 - Business - San Luis Obispo

Nonprofit Strategies: Get ready for the new IRS Form 990 - Business - San Luis Obispo: "For the first time in 30 years, the annual informational IRS filing required of most nonprofit groups, IRS Form 990, has been overhauled.

The new form must be used for nonprofit organizations that completed their 2008 tax year and are filing with the Internal Revenue Service in 2009.

According to the IRS, the redesign is based on three guiding principles: enhancing transparency, promoting tax compliance, and minimizing the burden on the filing organization."

IRS Releases Final Form 990 and Instructions - 30 Dec 2008

IRS Releases Final Form 990 and Instructions - 30 Dec 2008: "The Internal Revenue Service announced on December 24 that it has released the final versions of the 2008 Form 990, Return of Organization Exempt From Income Tax, Form 990-EZ, Short Form Return, schedules and instructions effective for 2008 tax year.

The new form consists of an 11-page, 11-part core form that is required to be completed by all organizations that file the Form 990, and Schedules to be completed by those organizations that satisfy the applicable requirements for each Schedule."

IRS Releases Instructions for New Charity Tax Form - Philanthropy.com

IRS Releases Instructions for New Charity Tax Form - Philanthropy.com: "IRS Releases Instructions for New Charity Tax Form

By Ben Gose

The Internal Revenue Service released on Tuesday final instructions for the redesigned Form 990, completing the first major overhaul in a generation of the informational return that most charities must file with the federal government."

IRS Releases Instructions for Charity Tax Form - Philanthropy.com

From the Chronicle of Philanthropy

IRS Releases Instructions for Charity Tax Form - Philanthropy.com: "IRS Releases Instructions for Charity Tax Form

By Peter Panepento

Washington

The Internal Revenue Service has posted the draft instructions for the new Form 990, the primary document that charities file each year with the government."

GuideStar - News - Articles - IRS Updates, June 2007: Public Disclosure of IRS Form 990-T and Political Activities of Exempt Organizations

Some 990 news via Guidestar
GuideStar - News - Articles - IRS Updates, June 2007: Public Disclosure of IRS Form 990-T and Political Activities of Exempt Organizations: "IRS Updates, June 2007: Public Disclosure of IRS Form 990-T and Political Activities of Exempt Organizations

Note: The following discussion is provided for informational purposes only and is not intended to serve as legal or tax advice. For specific information about public disclosure of Form 990-T and political activities of exempt organizations, consult your attorney or tax adviser.

Last month, the IRS released interim guidance on public inspection of Form 990-T. Earlier this month, the service also published guidance on political activity by exempt organizations."