Events Search
  Summary & Check Out (0)
Thursday, March 11, 2021 Live Webcast

Form 990 Parts V (Other Tax Issues) & I (Summary Financials) (X2-15274)

4:00 PM - 5:00 PM EST
webcast

Vendor Platform

1.0 CPE Credits in TX

OVERVIEW

This drill-down session focuses on Part V, providing substantive background materials on "what really is" being asked, or at stake in each of the inquiries in Part V. This part requires filers to disclose their compliance with multiple other areas of federal tax law that are not elsewhere addressed in the 990.

DESIGNED FOR

Public accounting tax and audit staff, and nonprofit organization's Treasurers, CFOs and finance/compliance staff

BENEFITS

After attending this presentation you will be able to...

  • Identify the three "gotcha" questions in Part V: (1) regarding payroll tax reporting, (2) need to file unrelated business income tax return, and (3) disclosures related to soliciting or receiving contributions
  • Apply overview background information in communicating with filers on multiple non-990
  • Assist filers in appreciating both the current e-filing trigger and in avoiding the common  misunderstandings of what conditions yield a true "common paymaster"
  • Identify where filers should be apprised of additional areas where tax advice/counsel would be appropriate

HIGHLIGHTS

The major topics that will be covered in this class include:

  • Line-by-line exploration of Part V's regulatory laundry-list of additional tax compliance points the exempt sector is responsible for outside of maintaining exemption
  • Substantive background on the underlying line-specific tax issues relating to four key lines: 
  1. How the presence of a common paymaster alters the count of “number of employees” [and how the latter does or does not factor into the current mandatory e-filing rules for larger organizations] (Line 2)
  2. When a Form 990-T filing is required (Line 3a)
  3. The quid pro quo solicitation disclosure mandates (Line 7a/7b)
  4. Need to communicate with solicitations that the organization is not eligible to receive tax-deductible contributions (Line 6a/6b)
  • The multiple, often overlapping, disclosures or tax filings required when a filer receives large  tax-deductible contributions or certain types of property toward such contributions
  • Explanation of the basics behind the excise tax schemes applied to filers:
  1. holding "donor-advised funds" (Lines 8 and 9)
  2. subject to either of the two new excise tax schemes added by the Tax Cuts and Jobs Act
  • Potholes in culling the current and  prior year’s tax return information necessary to complete Part I's Lines 8–22

COURSE LEVEL

Intermediate

PREREQUISITES

Some knowledge of Form 990 helpful

ADVANCE PREPARATION

None

INSTRUCTOR

Eve Rose Borenstein

Eve Rose Borenstein, J.D.

Eve Borenstein is a partner in Borenstein and McVeigh Law Office (BAM!) (www.bamlawoffice.com), a Minneapolis law firm and the base from which she conducts an extensive national federal tax practice serving tax exempt organizations. In her law practice (as well as through her teaching and speaking, addressed below) Eve works to assist nonprofit organizations with exemption qualification, corporate planning and overall compliance. By early 2015, she had represented more than 1,000 exempt organizations before the IRS.

Eve provided testimony to the U.S. House of Representative’s Ways and Means Oversight Sub‐Committee in July 2012 at their 2nd Hearing on Tax‐Exempt Organizations, commenting on the reach and efficacy of the Redesigned Form 990. She volunteers extensively with multiple professional committees, including the American Bar Association’s Tax Section Committee on Exempt Organizations and the American Institute of Certified Public Accountants’ Exempt Organization Technical Resource Panel. Eve was a key participant from the private sector in the IRS’ Redesign of the Form 990, and continues to provide extensive feedback to the IRS on both that Form and the Form 1023.

A dedicated teacher and speaker on non‐profit compliance mandates, Eve’s CPE teaching is conducted through a separate consultancy, Eve Rose Borenstein, LLC (www.taxexemptlaw.org). As of 2013, she is the co‐author (with CPA Jane Searing) of the AICPA’s Form 990 Course, Form 990: A Comprehensive Approach to Complete and Accurate Preparation. She enjoys instructing nonprofits directly as well as the professionals who serve the sector and is committed to “helping the sector do it right the first time!”

Eve’s professional path to the present began with exempt organizations tax work in the Minneapolis tax offices of Ernst &Whinney in 1985. From 1989 through 2003 she had a solo practice serving nonprofits nationally; a merger in 2004 with non‐profit attorney Ellen W. McVeigh created the BAM Law firm, which exclusively provides tax and corporate counsel (including employment law) to the nonprofit sector.

Eve welcomes your inquiries:
eve@BAMlawoffice.com / eve@taxexemptlaw.org
both e‐mails are interchangeable!
612.822.2677

PRICING

$39.00 - Member

$49.00 - Nonmember

Pre-Registration Closed

Online pre-registration for this event is now closed.

ADDITIONAL OPTIONS

Remind me to register

Print a registration form

ALSO AVAILABLE

COURSE DEVELOPER

CPA Crossings