Book description
A line-by-line preparation guide to the completely new and revised
Form 990 for nonprofit organizations
The accurate and complete preparation of Form 990-the information
return that must be filed annually by most types of tax-exempt
organizations-is a key factor in maintaining public image and
fundraising capabilities. The newly redesigned Form 990 was released
in December 2008 with significant revisions to the initial June 2007
draft. Preparation of the new return will require tax-exempt
organizations to gather extensive new information about their
activities for disclosure on the new form beginning with their 2008
tax year.
In Revised Form 990: A Line-by-Line Preparation Guide, authors
Jody Blazek-who with other AICPA Task Force members was instrumental
in effecting changes to the original IRS draft of the form-and Amanda
Adams, provide step-by-step and line-by-line analysis and preparation
guidelines for nonprofit professionals and nonprofessionals alike
charged with preparing and submitting the form.
This hands-on workbook walks you through the process of producing an
annual report to the IRS that demonstrates continued qualification for
exempt status for a nonprofit organization, explaining the information
requested page by page and part by part. It addresses the issues and
challenges for each part, particularly the new schedules. As each part
is explained, the authors suggest when certain answers have negative
consequences. Guidance is provided for functional expense reporting
and generally accepted accounting principles for reporting revenues. A
good discussion of the differences between book and tax reporting and
records needed to accurately display financials for tax purposes is
included. The Form 990-PF and Form 990-T are also examined.
Jody Blazek is a partner in Blazek &
Vetterling, a CPA firm focusing on tax and financial planning for
exempt organizations and the individuals who create, fund, and work
with them. BV serves over 400 nonprofit organizations providing
financial reports and tax compliance and planning services. She is the
author of six books in the Wiley Nonprofit Series: Nonprofit
Financial Planning Made Easy; IRS Form 1023 Preparation
Guide; IRS Form 990 Tax Preparation Guide for Nonprofits;
Tax Planning and Compliance for Tax-Exempt Organizations, Fourth
Edition; Private Foundations: Tax Law and Compliance, Third
Edition; and The Legal Answer Book for Private Foundations,
the latter two volumes coauthored with Bruce R. Hopkins.
Amanda Adams is a tax manager at Blazek & Vetterling with
extensive experience in public charities and also private foundation
tax matters through her work with Foundation Source. She is a member
of the American Institute of Certified Public Accountants, the Texas
Society of Certified Public Accountants, and the Houston Chapter of
CPAs.
