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The Not-so-New 990 in Year 3 (2010) Changes, Experiences & Improvements. March 15, 2011 CalCPA San Francisco Chapter Terry Miller. Agenda Today. Historical Perspective & Basics IRS: What do we know about new 990 and compliance?
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March 15, 2011
CalCPA San Francisco Chapter
….with opinion, gossip & speculation throughout!
….assuming you already know the “new” 990 pretty well.
From now on:
I & IISummary & Signature Block
IIIStmt of Program Service Accomplishments
IVChecklist of Required Schedules (much improved)
VStmts Re: IRS Filings & Tax Compliance(evolving)
VIGovernance, Management & Disclosure (improved)
VIICompensation of Ofcrs, Dirs, Ttees, Key Ees,
Highest Comped Ees, and Indep Contractors
VIIIStatement of Revenue
IXStatement of Functional Expenses
XI[New 2010]Reconciliation of Net Assets(helpful)
XII[New 2009] Financial Statements & Reporting
(based on “trigger questions” – various thresholds)
Individuals In[side] the United States
…. expect to see mandatory e-filing for more filers
“In light of what we have learned through the various enforcement activities discussed above, the resources we have developed for our staff and the public, and changes resulting from legislation, we are winding down separate projects and incorporating them into overall compliance processes.”… (Integration)
Changes since 2008
(Not planning to cover in detail:
“As more organizations file the redesigned Form 990, EO Examinations will use the updated form to identify non-compliant and potentially non-compliant organizations for examination, to develop targeted compliance projects and to inform and supplement educational efforts. In FY 2011, EO will continue to work with our research office to develop more robust risk models and refine compliance queries to promote a more finely tuned compliance approach and more tailored education efforts.”
(I am happy to email you a full size copy of these slides, and will post on my website on the 990 page.)
62 Rudden Ave
San Francisco CA 94112-2540
FYI: to submit comments on the Form 990:
Stephen Clarke, firstname.lastname@example.org, 202-283-9474,