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Sessions | Instructor | Event Registration |

Event Information

Tax Exempt Organizations—Basic Issues for Operating, Organizing, and Preparing Forms | 4194119E - CANCELED
Date: November 22, 2019
Event Start time: 6:00 AM   End time: 1:30 PM
Location: Webcast

Facility: Webcast Event

 


Member:       $295
Nonmember: $400

CPE Credits:

8.00 CPE: Continuing Professional Education Technical


For tax exempt organizations, it is not about calculating income tax. It is about showing to the IRS at inception and annually that the organization is entitled to be classified as a tax exempt organization because of its purpose as reflected in its management and activities. Exempt organizations have unique tax rules and special forms. The IRS is especially sensitive to abuses of exempt status. From fundamentals needed to obtain exemption and to prepare Form 990, this program teaches what the informed accounting and finance professionals in public practice and inside a tax-exempt organization must know.
Objectives:
Participants will be able to: • Understand special filing requirements of exempt entities
• Distinguish between charitable and other not-for-profit entities
• Recognize unrelated business income
• Prepare Form 1023, 1023-EZ, or 1024 and related schedules
• Prepare Form 990, 990-EZ, and 990-N and related schedules • Be aware of traps and pitfalls that can lead to penalties or loss of exempt status

Major Subjects:
•    What is an exempt organization? • The importance of knowing the organization’s purpose
• Special status of charitable organizations
• When and how to apply for exempt status
• Notice requirement for new 501(c)(4) organizations
• Which organizations are required to file a Form 990?
• Unrelated business taxable income—the fundamentals
• Statutory exclusions under IRC Secs 512, 513, and 514
• What is an exempt organization?
• The importance of knowing the organization’s purpose
• Special status of charitable organizations
• When and how to apply for exempt status
• Notice requirement for new 501(c)(4) organizations
• Which organizations are required to file a Form 990?
• Unrelated business taxable income—the fundamentals
• Statutory exclusions under IRC Secs 512, 513, and 514

• In-depth analysis of Form 990, Form 990-EZ, and 990-N, and public disclosure requirements
• Fund raising disclosure requirements of non- charitable exempt organizations
• IRS’ expectation for management of the organization
• Introductions to private inurement and intermediate sanctions

Level of Difficulty:
Basic

Field of Interest:
Taxes

Prerequisites:
none

Designed For:
Accounting and financial professionals that have any involvement with tax-exempt organizations and preparation of Forms 1023, 1023-EZ, 1024, 990, 990-EZ, and 990-N. May also be suitable for public practice.

Advanced Prep:
None

Event Notes:
None