Deep Dive into Form 990s for Experienced Preparers

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

PREMIUM

Total Credits

4 CPE

Live Conference

Nov 28th, 2022

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Deep Dive into Form 990s for Experienced Preparers

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.


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Continuing Education Credits

The sessions of the conference qualifies for

  • 4 General Credit for all Accountant
  • 4 CE Credit for all AFSP
  • 4 CE Credit for all CRTP
  • 4 CPE Credit of Taxes for CPA (US)
  • 4 CE Credit for all EA
  • 4 CE Credit for all ORTP
  • 4 CE Credit for all MRTP
  • 4 CE Credit for all ERPA

Recommended for

    • CPAs, EAs, AFSPs, ERPAs and Other Tax Professionals looking for a comprehensive understanding on tax returns of Not-For-Profits and Entities holding Exempt Status

Nicholas Preusch

Date

Nov 28th, 2022

Time

01:00 PM – 03:00 PM
2 Credit

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 General credit of for all Accountant
  • 2 CE credit of for all AFSP
  • 2 CE credit of for all CRTP ( Course No. 6273-CE-0659 )
  • 2 CPE credit of Taxes for all CPA (US)
  • 2 CE credit of for all EA ( Course No. GEHNZ-T-00705-21-O )
  • 2 CE credit of for all ORTP ( Course No. GEHNZ-T-00705-21-O )
  • 2 CE credit of for all MRTP ( Course No. GEHNZ-T-00705-21-O )
  • 2 CE credit of for all ERPA ( Course No. GEHNZ-Q-01126-22-O )

Subject Area:

Taxes

Course Level:

Basic

Instuctional Method:

Group Internet Based

Pre-requisites:

Advance Preparation:

Nicholas Preusch

Date

Nov 28th, 2022

Time

03:00 PM – 05:00 PM
2 Credit

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 General credit of for all Accountant
  • 2 CE credit of for all AFSP
  • 2 CE credit of for all CRTP ( Course No. 6273-CE-0658 )
  • 2 CPE credit of Taxes for all CPA (US)
  • 2 CE credit of for all EA ( Course No. GEHNZ-T-00706-21-O )
  • 2 CE credit of for all ORTP ( Course No. GEHNZ-T-00706-21-O )
  • 2 CE credit of for all MRTP ( Course No. GEHNZ-T-00706-21-O )
  • 2 CE credit of for all ERPA ( Course No. GEHNZ-Q-01127-22-O )

Subject Area:

Taxes

Course Level:

Basic

Instuctional Method:

Group Internet Based

Pre-requisites:

Advance Preparation:

  • Nicholas Preusch
    Nicholas Preusch

    Certified Public Accoun...

    Nicholas Preusc...

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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