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Deep Dive into Form 990s

More than everything that you need to know about the Form 990s!

  • Price

    $49

  • Total Credits

    4 CPE

    4.4

Deep Dive into Form 990s

Overview

This course will cover all the ins and outs of preparing a 990s. We will look at all the common schedules along with common practitioner errors. We will also do a deep dive into UBIT and the aspects surrounding the unrelated business tax. After this course, you will find yourself more confident and ready to prepare more 990s!

Form 990 is required of all Non-Profit or Not-for-Profit enterprises. It consists of several related forms, ranging from a “postcard filing” done on-line to a fairly complex form that requires particular attention to several trigger items. Non-profit accounting and tax reporting has several significant differences from regular enterprises. It’s important to recognize and properly deal with these. In recent years the IRS has devoted more resources and attention to non-profits. This workshop will help you stay ahead of the curve.

The Form 990 is a window into the intimate operations of an exempt organization. With a 12-page core form, 16 schedules and hundreds of pages of instructions, preparation of the Form is time intensive and complex. If you serve exempt organizations or work for an exempt organization, you'll want to have a solid working knowledge of the core Form and the schedules. This targeted virtual event will allow you to:

  • Correctly complete the core Form 990
  • Understand the more complex elements of the Form
  • Learn the basic elements of the most often used Form 990 schedules
  • Ensure that your exempt organization is satisfying all required governance/insider compensation rules
  • Understand how to mitigate risk in preparing the Form 990 by identifying certain reporting and analytical red flags
  • Understand the process of creating a new public charity, including the tax exemption process from a federal perspective
  • Learn about all the resources available to exempt organizations

The objective of this comprehensive workshop is to give CPAs, consultants and non-profit finance representatives an in-depth look at tax-exempt filing requirements and, most specifically, the Form 990. You will learn about the annual compliance requirements via an in-depth discussion of the Form 990 and its schedules, including hands-on experience completing the Form. You will learn how to protect the organization’s exempt status from automatic revocation and other potential challenges to exemption, as well as the proper protocol if exemption is revoked.


Completed

Continuing Education Credits

The sessions of the conference qualifies for

  • 4 CPE Credit of Taxes for CPA (US)
  • 4 CE Credit of Federal Tax Related Matters for EA

Speakers

Nicholas Preusch

Nicholas Preusch

Certified Public Accountant (CPA) , Nicholas Preusch

Nicholas has worked with the Internal Revenue Service as a Revenue Agent and an Attorney with the IRS Office of Professional Responsibility. Nicholas has authored publications for the AICPA’s Journal of Accountancy, AICPA’s Tax Advisor, NATP’s Tax Pro Journal, and CCH’s Journal of Tax Practice and Procedure. He also co-authored a textbook, Tax Preparer Penalties and Circular 230 Enforcement, published by Thomson Reuters. Nicholas has been recognized as the Top 5 Under 35 CPAs in Virginia, and is a member of the  AICPA’s Tax Executive Committee. Nicholas is an adjunct professor at the University of Mary Washington. He is a graduate of Carthage College, University of Connecticut (M.S. in Accounting), Case Western Reserve University School of Law (J.D.), and Georgetown University (LLM in Taxation).

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Session Details

Nicholas Preusch
Nicholas Preusch

Date

Jul 28th, 2021

Time

12:00 PM – 02:00 PM
2 Credits

Intro to NFP and Basics of Related Tax Forms

The first session of this extensive workshop will cover the following key topics that you need to know while preparing and filing form 990s

  • Introduction to NFPs
  • Why are NFP’s Different?
  • Form 1023
  • Public Vs. Private Foundation
  • General overview of Form 990, 990T, 990EZ, 990N & 990 PF
  • Form 990 – Program Services

Learning Objectives

  • Learn How to Find NFP Client
  • Learn of Basic NFP Issues
  • 2 CPE credit of Taxes for all CPA (US)
  • 2 CE credit of Federal Tax Related Matters for all EA ( Course No. GEHNZ-T-00706-21-O )

Subject Area:

Taxes

Course Level:

Basic

Instuctional Method:

Group Internet Based

Pre-requisites:

Advance Preparation:

Nicholas Preusch
Nicholas Preusch

Date

Jul 28th, 2021

Time

02:00 PM – 04:00 PM
2 Credits

Time for a Deeper Dive

In Session 2, we will provide a further practical insight on various parts of Form 990s and will try to make things easier for you with the Tax Pro – Nicholas Preusch. This session shall also cover the details about UBIT along with real life case studies and examples.

Key topics covered in this session of this online CPE Workshop are:

  • Overview of various Parts of Form 990s
  • Listing of Officers, Directors and Key Employees
  • Responsibility Test for Key Employees
  • Disregarded Entity
  • Disclosures on Form 990
  • Related Organizations
  • Preparation Pitfalls
  • Unrelated Business Income Tax (UBIT)
  • Schedules of Form 990s 

Learning Objectives

  • Learn to Navigate Around Form 990
  • Determine Common Issues When Filing Form 990
  • 2 CPE credit of Taxes for all CPA (US)
  • 2 CE credit of Federal Tax Related Matters for all EA ( Course No. GEHNZ-T-00706-21-O )

Subject Area:

Taxes

Course Level:

Basic

Instuctional Method:

Group Internet Based

Pre-requisites:

Advance Preparation:

Ratings and Review

4.4

7 Reveiws

Excellent

3

Very Good

4

Average

0

Poor

0

Terrible

0

DK

David Kibrick, Owner

Jul 28th, 2021

technology worked fine, instructor was effective

BO

Bob Oursler, Tax and Consulting

Jul 29th, 2021

Excellent intro to Form 990 and its environs. Helped clarify some unique items answering the questions on the form.

Frequently Asked Questions

This is a virtual event and shall be held on Zoom Application. The handout material for each session shall be available for download on the conference/workshop detail page.

Virtual conference with myCPE is enveloped around a theme or subject or driven towards a particular audience, and is designed to be more collaborative; with a tremendously interactive agenda, panel discussions, and gives an option to all participants being able to turn their web cameras on and participate more actively. Virtual conference offers multiple sessions over a longer time frame of more than 8 hours. Virtual conferences help build a community or initiate networking opportunities.

The duration of this event can be seen below its title. The credits for this conference/workshop are also mentioned below the title.

The Specific Takeaways and the purpose of this event is mentioned in the ‘Overview’ and ‘Session Details’. Additionally, by attending a Live Virtual Event you can experience the interactivity equivalent to an in-person conference without having to leave your screens or risk your lives especially post pandemic situations. Nevertheless, bulk CPE/CE is an icing on the cake.

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There is an official break scheduled for this workshop/events. Other than the scheduled break, the in-session breaks shall be available at discretion of the speaker.

A live virtual event enables remote participants to access live, interactive networking opportunities and content through their computers/other digital devices, no matter where they are located. These events can be conducted in multiple formats;

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The myCPE virtual events are designed to impart education around a specific theme or subject from a basic to an advanced level, which is why we do not recommend you to leave the event in between. However, if you had to leave the event because of some unforeseen circumstances, you would be granted the credits for the sessions that you attended completely and wherein you answered all the polling questions.

The recording of the event can be made available to you, on request. You can reach out to us at support@my-cpe.com or can also let us know through live chat support if you need a recording for this event. However, the recording shall not be available for Continuing Education Credits.

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Once you complete the evaluation form, you will receive an email with your credit certificates and the same shall also be available in your myCPE account under the 'My Certificates' tab. The link in the certificate email is for downloading the certificates. If the event qualifies for multiple certificates, each certificate will be available for download

During every conference the chat panel shall always be open. You can mention the issue faced by you in the chat panel and our moderator will take it up for resolution shortly. You can also reach out to our support team in the live chat support or at support@my-cpe.com

Yes, each live virtual conference/workshop shall be recorded and the recording of the same can be made available to on request. However, the recording shall not be eligible for continuing education credits.

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