2008 Introduction to Form 990Course Level: Basic CPE Credits: 4 for EAs, 2 for CTEC Price: $60 for Members and $80 for Nonmembers Prerequisite: None This course explores the basics of preparing federal Form 990, Return of Organization Exempt From Income Tax, and introduces some fundamental concepts of exempt organizations in general. This program of study is designed for tax and financial professionals who want to learn about the reporting requirements of entities that are exempt from income tax. The new 990 form is a significant redesign in format and content. Major changes include a front page summary that provides a snapshot of key financial and operating information, a governance section, and revised compensation and related organization reporting. In order to increase reporting compliance, the new form replaces existing "unstructured attachments" with formal schedules. Other schedules were added for foreign activities, non-cash contributions, hospitals and tax-exempt bonds, among others, to collect information not required by the previous form. Click here to view the Table of Contents for the 2008 course. Objectives Upon completion of this course, you will be able to: - Understand the organization and layout of Form 990.
- Identify the specific types of organizations who are required to file Form 990.
- Identify the specific types of organizations that are NOT required to file Form 990.
- Identify the special accounting classifications that are needed to properly prepare Form 990.
- List the sections of Form 990 and the type of information that must be reported in each.
- Identify the self-balancing lines tying parts of Form 990 to each other.
- Given a set of facts and financial data, prepare a basic Form 990.
This course comes with a downloadable electronic textbook. If you would like to purchase a printed textbook for this course, the book will be available for sale for $20 for members and $25 for nonmembers (half the regular price). Once you are registered for the course, you can call Member Services at 800.558.3402, ext. 3 to purchase the book at this special price.
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