November 2008
The IRS
office of Exempt Organizations (EO) has created “Stay
Exempt”—a series of tax courses that can help tax-exempt
organizations maintain their exempt status and meet filing
requirements. They have added new mini-courses on the
redesigned IRS Form 990.
The site
at
http://www.stayexempt.org/index.html
now has five virtual workshop
sessions, five mini-courses that cover topics important to
tax-exempt organizations, and five mini-courses discussing
aspects of the redesigned Form 990.
The new
mini-courses about the redesigned annual return (Form 990)
include:
-
Preparing to File the New Form 990: An overview of the
changes to the form, and tips on getting ready to file
it.
-
The
Redesigned Form 990 - Part I: General instructions for
completing the form and walk through of the heading and
financial sections.
-
The
Redesigned Form 990 - Part II: Walk through of the
accomplishments, compliance, and compensation sections.
-
The
Redesigned Form 990 - Part III: Walk through of the
governance, management, disclosure, and summary
sections; the checklist of required schedules; and
Schedule A.
-
The
Redesigned Form 990 - Part IV: Walk through of
Schedules C, F, G, I, M, and R.
The
mini-courses include:
-
Navigating IRS EO Resources - How to use IRS.gov and
find workshops, outreach events and publications.
-
Political Campaigns and Charities - Explains the ban on
intervening in political campaign activities by
tax-exempt and charitable organizations.
-
Can I
Deduct My Charitable Contributions? – What’s deductible
and what’s not?
-
The
Wonderful World of Foundation Classification (Part I) -
Covers two common types of classifications for 501(c)(3)
organizations.
-
Applying for Tax-Exempt Status – How to make the
application process easier and quicker for new
organizations.
The five
interactive virtual workshop sessions are:
-
Tax-Exempt Status – How can you keep your 501(c)(3)
exempt?
-
Unrelated Business Income – Does your organization
generate taxable income?
-
Employment Issues – How should you treat your workers
for tax purposes?
-
Form
990 – What records should your organization keep to
prepare to file an accurate Form 990?
-
Required Disclosures – What items are open to public
inspection and what disclosures are exempt organizations
required to make?
Users can complete the
modules in any order and repeat them as many times as they
like. StayExempt.org does not require registration and it is
understood that visitors will remain anonymous.
If you have questions, or if you would like a copy of the
IRS training material, please contact Vincent Ruocco, LLC,
CPA at 203.932.2931.
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