Reporting Self-Dealing on Form 990 and Its Schedules 1 Credit
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Form 990 is the IRS' primary tool for gathering information about tax-exempt organizations, educating organizations about tax law requirements, and promoting compliance. Organizations also use Form 990 to share information with the public about their programs.
In this webinar, the focus is on the reporting of self-dealing on Form 990 and its schedules, which is crucial for exempt organizations. The webinar will introduce which of the 990 series forms are required to be filed, including filing procedures. It will review the parts of Form 990 and how its completion triggers reporting on additional schedules with their filing requirements. The reporting on Schedule L will cover excess benefit transactions, loans, grants, and business transactions with interested persons, while Schedule R will review related organizations and unrelated partnerships, including disregarded entities and various tax-exempt and unrelated organizations taxed as partnerships.
This Online CE Tax Webinar will discuss reporting of self-dealing on Form 990 and its schedules including:
I. Form 990 Procedural Matters and Parts of Form 990
A. Form 990 Procedural Matters: Which 990 series form should be filed; and Filing procedures.
B. Parts of Form 990: Core Form 990, Parts I and II; Part III, Statement of Program Service Accomplishments; Part IV, Checklist of Required Schedules; and Overview of Parts V through Part XII.
II. Schedule L, Transactions with Interested Persons
A. Excess Benefit Transactions, Loans, and Grants
B. Business Transactions with Interested Persons: Business Transactions; Entities as Interested Persons; and Examples of reportable transactions and when no reporting is required.
III. Schedule R, Related Organizations and Unrelated Partnerships: Disregarded entities; Related tax-exempt entities; Related organizations taxed as partnerships; Related organizations taxed as C corporations or as S corporations; Unrelated organizations taxed as partnerships.
Join this webinar it will provide essential insights into completing these schedules and avoiding potential errors or penalties.
| License details | Credits | Status |
|---|---|---|
| Taxes for Certified Public Accountants (CPA-US) | 1 CPE | Approved |
| Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-01530-23-S) | 1 CE | Approved |
| Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-01530-23-S) | 1 CE | Approved |
| Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-1241) | 1 CE | Approved |
| Taxes for Delaware Licensed Public Accountant (DE-LPA) | 1 CPE | Eligible |
| Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-01530-23-S) | 1 CE | Approved |
| Federal tax-related matters for LTC (Approval No. GEHNZ-T-01530-23-S) | 1 CE | Eligible |
| Taxes for Iowa Licensed Public Accountant (IA-LPA) | 1 CPE | Eligible |
| Taxes for Maine Licensed Public Accountant (ME-LPA) | 1 CPE | Eligible |
| Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-01530-23-S) | 1 CE | Approved |
| License details | Credits | Status |
|---|---|---|
| Taxes for Certified Public Accountants (CPA-US) | 1 CPE | Approved |
| Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-01530-23-S) | 1 CE | Approved |
| Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-01530-23-S) | 1 CE | Approved |
| Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-1241) | 1 CE | Approved |
| Taxes for Delaware Licensed Public Accountant (DE-LPA) | 1 CPE | Eligible |
| Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-01530-23-S) | 1 CE | Approved |
| Federal tax-related matters for LTC (Approval No. GEHNZ-T-01530-23-S) | 1 CE | Eligible |
| Taxes for Iowa Licensed Public Accountant (IA-LPA) | 1 CPE | Eligible |
| Taxes for Maine Licensed Public Accountant (ME-LPA) | 1 CPE | Eligible |
| Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-01530-23-S) | 1 CE | Approved |
| License details | Credits | Status |
|---|---|---|
| Taxes for Certified Public Accountants (CPA-US) | 1 CPE | Approved |
| Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-01530-23-S) | 1 CE | Approved |
| Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-01530-23-S) | 1 CE | Approved |
| Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-1241) | 1 CE | Approved |
| Taxes for Delaware Licensed Public Accountant (DE-LPA) | 1 CPE | Eligible |
| Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-01530-23-S) | 1 CE | Approved |
| Federal tax-related matters for LTC (Approval No. GEHNZ-T-01530-23-S) | 1 CE | Eligible |
| Taxes for Iowa Licensed Public Accountant (IA-LPA) | 1 CPE | Eligible |
| Taxes for Maine Licensed Public Accountant (ME-LPA) | 1 CPE | Eligible |
| Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-01530-23-S) | 1 CE | Approved |
| License details | Credits | Status |
|---|---|---|
| Taxes for Certified Public Accountants (CPA-US) | 1 CPE | Approved |
| Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-01530-23-O) | 1 CE | Approved |
| Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-01530-23-O) | 1 CE | Approved |
| Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-1241) | 1 CE | Approved |
| Taxes for Delaware Licensed Public Accountant (DE-LPA) | 1 CPE | Eligible |
| Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-01530-23-O) | 1 CE | Approved |
| Federal tax-related matters for LTC (Approval No. GEHNZ-T-01530-23-O) | 1 CE | Eligible |
| Taxes for Iowa Licensed Public Accountant (IA-LPA) | 1 CPE | Eligible |
| Taxes for Maine Licensed Public Accountant (ME-LPA) | 1 CPE | Eligible |
| Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-01530-23-O) | 1 CE | Approved |
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Mr. Michelson received his B.A. Degree, with general honors from the University of Chicago, his M.S. in Accountancy from DePaul University and his J.D. degree from UCLA School of Law. He has been admitted to practice with the U.S. Tax Court and the United States District Court, Central District of California.
Mr. Michelson is Past Chair of the Nonprofit Organizations Committee of the Business Law Section of the California Lawyers Association. He has served as Chair of the Tax-Exempt Organizations Committee of the Taxation Section of the State Bar of California, as Co-Chair of the Nonprofit Organizations Committee of the Business Law Section of the State Bar of California and as Chair of the Taxation Section of the Los Angeles County Bar Association. In May 2001 he participated in the Los Angeles County/California State Bar delegation to the Internal Revenue Service, Treasury and staff of the Congressional tax committees in Washington D.C. to discuss proposed guidance, as set forth in a co-authored paper, “Getting Connected: Business and Politics of Charities on the Internet.” Together with other attorneys, he assisted in reviewing and suggesting revisions to portions of the California Attorney General’s Guide to Charities. Mr. Michelson is a lecturer at UCLA Extension on tax issues for nonprofit organizations. He is also Adjunct Professor at David Nazarian College of Business and Economics California State University Northridge for a class on income taxation of trusts and estates. He has lectured for business and professional organizations and written articles on various federal and California tax topics. He is a member of the American, California, and Los Angeles County Bar Associations.
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After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.
We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.
DS
Examples to understand related transactions were very good, it made the concept very clear
MB
Great introduction to the possible complexity of the 990
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