Cover image for IRS form 990 : tax preparation guide for nonprofits
Title:
IRS form 990 : tax preparation guide for nonprofits
Author:
Blazek, Jody.
Personal Author:
Edition:
Revised edition.
Publication Information:
Hoboken, NJ: John Wiley & Sons, [2004]

©2004
Physical Description:
xiii, 226 pages ; 25 cm
Language:
English
ISBN:
9780471448532
Format :
Book

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Summary

Summary

Hands-on guidance to help nonprofits through the tax filing maze!

Get easy-to-use worksheets helping you manage such critical concerns as tax-exempt eligibility, reporting to the IRS, and tax compliance. Comprehensive, line-by-line instructions and checklists containing major tax compliance issues are supplied. This hands-on workbook walks you through the process of achieving and maintaining exempt status for a non-profit organization. Jody Blazek demystifies the process for financial professionals and nonprofessionals alike who are held accountable for the content of these forms.

Order your copy today!


Author Notes

JODY BLAZEK, CPA, is a partner in Blazek & Vetterling LLP, a Houston-based CPA firm providing tax compliance and auditing services to tax-exempt organizations and tax consulting services to other lawyers and accountants who serve nonprofits. She is past chair of the Exempt Organization Resource Panel of the AICPA and serves on the editorial board of Tax Advisor, Exempts, and Exempt Organization Tax Review. She is also a founding director of Texas Accountants and Lawyers for the Arts and the Houston Artists Fund. She is the author of Tax Planning and Compliance for Tax-Exempt Organizations, Fourth Edition (2004), Financial Planning for Nonprofit Organizations (1996), and Private Foundations: Tax Law and Compliance, Second Edition (2003) and The Legal Answer Book for Private Foundations (2001) (both coauthored with Bruce R. Hopkins), all published by Wiley.


Table of Contents

Preface
Acknowledgments
About the Author
Chapter 1 Tools, Concepts, Filing, and Reporting Requirements
1.1 Find Out Why the Nonprofit Qualifies for Tax Exemption
1.2 Filing Forms 990
1.3 Public Inspection of Forms 990 and 1023 or 1024
1.4 Accounting Issues
Appendix 1A Form 8868
Chapter 2 Successful Preparation of Forms 990 and 990-EZ
2.1 Form 990-EZ-Short Form
2.2 Form 990, Part I Income and Expense
2.3 Part II-Statement of Functional Expenses
2.4 Part III-Statement of Program Service Accomplishments
2.5 Part IV-Balance Sheet and Reconciliation
2.6 Part V-List of Officers, Directors, and Trustees
2.7 Parts VI and IX-Other Information
2.8 Part VII-Analysis of Income-Producing Activity
2.9 Reporting by Political Organizations
Appendix 2A Form 990-EZ
Appendix 2B Form 990
Appendix 2C Schedule B
Appendix 2D UBI Codes
Appendix 2E Exclusion Codes
Appendix 2F Form 8871
Appendix 2G Form 8872
Chapter 3 Form 990, Schedule A: For ?501(c)(3) Organizations
3.1 Parts I and II-Compensation
3.2 Part III-Statement about Activities
3.3 Part IV-Reason for Non-Private Foundation Status: ?509(a)(1)
3.4 Part IV-Service-Providing Public Charities: ?509(a)(2)
3.5 Part IV-Supporting Organizations: ?509(a)(3)
3.6 Differences between ?509(a)(1) and ?509(a)(2)
3.7 Solving Troublesome Public Status Problems
3.8 Part V-Private School Questionnaire
3.9 Part VI-A-Lobbying Expenditures by Electing Public Charities-and Part VI-B-Lobbying Activity by Nonelecting Public Charities
3.10 Part VIInformation Regarding Transfers, Transactions, and Relationships with Other Organizations
Appendix 3A Schedule A
Appendix 3B Form 5768
Chapter 4 The Private Foundation Return
4.1 Successful Completion of Form 990-PF
4.2 The Part I
4.3 Line-by-Line Instructions for Revenues
4.4 Line-by-Line Instructions for Expenditures
4.5 Part II-Balance Sheets
4.6 Part III-Analysis of Changes in Net Worth or Fund Balances
4.7 Part IV-Capital Gains and Losses for Tax on Investment Income
4.8 Reports Unique to Private Foundations
4.9 Part V-Reducing the Tax Rate
4.10 Part VI-Calculating the Excise Tax
4.11 Part VII-A-Proof of Ongoing Qualification for Exemption
4.12 Questions Seeking Evidence That No Sanctions Apply
4.13 Part VIII-Information about Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees, and Contractors
4.14 Part IX-A and B-Summary of Charitable Activities and Program-Related Investments
4.15 Part X-Minimum Investment Return
4.16 Part XI-Distributable Amount
4.17 Part XII-Qualifying Distributions
4.18 Part XIII-Undistributed Income
4.19 Part XIV-Private Operating Foundations
4.20 Part XV-Supplementary Information
4.21 Part XV-Grants and Contributions Paid During the Year or Approved for Future Payment
4.22 Part XVI-A-Analysis of Income-Producing Activity
4.23 Part XVII-Information Regarding Transfers to and Transactions and Relationships with Noncharitable Exempt Organizations
Appendix 4A Form 990-PF
Appendix 4B Form 4720
Chapter 5 Form 990-T: Exempt Organization Business Income Tax Return
5.1 What Is Unrelated Business Income?
5.2|