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Form 990 and Unrelated Business Income - Webinar

  • ID: 3841694
  • Webinar
  • May 2019
  • Region: Global
  • 90 Minutes
  • Lorman Business Center, Inc.
Examine the core elements of unrelated business income and review strategies for recognizing and minimizing tax liability.

The IRS Form 990 must be both a complete and accurate document as well as a transparent source of information that is relied upon by potential funders, beneficiaries, the media, and the public in general. This topic will provide an overview the Form 990 and will explain certain important disclosure issues that the presenter repeatedly has encountered. This information will help you identify key filing considerations and understand the underlying tax exemption principles involved.

Learning Objectives
  • You will be able to review Form 990.
  • You will be able to discuss certain key issues of Form 990.
  • You will be able to explain transactions with interested persons.
  • You will be able to recognize exceptions and modifications to unrelated business income.
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Form 990 Procedural Matters
  • Determining Which Form to File
  • Due Dates and Automatic Extension
Parts of Form 990
  • Overview of Parts of Form 990
  • Types of Income, Exempt Function Versus Grants and Special Events
  • Schedule of Contributors (Schedule B) and Non-Cash Contributions (Schedule M)
  • Reporting of Compensation
  • Governance and Management Policies
Selected Schedules to Form 990
  • Public Charity Status and Public Support - Schedule A
  • Transactions With Interested Persons - Schedule L
  • Related Organizations - Schedule R
Unrelated Business Income
  • Criteria for Taxation and Fragmentation Rule
  • Exceptions, Modifications and Exceptions to Exceptions
  • Advertising and Sponsorship
  • Form 990T
  • Planning Considerations
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Louis E. Michelson, Esq. - Law Offices of Louis E. Michelson, A Professional Corporation
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This webinar is designed for accountants, attorneys, executive directors, officers, controllers, CFOs, tax managers and enrolled agents.
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