Description
In this CPE course, learn how to prepare Form 990. Also discussed are practice tips, common errors, and potential red flags that could lead to an IRS audit.
Objectives
- Identify the process to prepare the Form 990 core form
- Recall the structure of the core Form 990
- Determine the correct amount(s) and line item(s) for core Form 990 reporting
Highlights
- Filing requirements and late filing penalties
- Reasonable cause abatement
- Preparation tips
- Program service accomplishments
- Required disclosures
- Reportable compensation
- Statement of Revenue
- Statement of Functional Expenses
- Fundraising events
- Reconciling to GAAP basis financial statements
- Potential red flags
- Common errors and potential pitfalls