RSM Resources

On June 14, 2007, the Internal Revenue Service (IRS) released the long-awaited rework draft, and completely redesigned Form 990. During the summer of 2007, the IRS took public comments about the draft.

It received nearly 700 responses that totaled approximately 3,000 pages of comments. Now, the IRS has released the "final draft" of Form 990 for 2008 (filed in 2009, for tax years beginning in 2008). Although we now have a "final draft" of new Form 990, the instructions for the form have yet to be released.

This "final draft" version contains a "core form" of 11 pages and 16 additional schedules that may or may not be required to be filed by every exempt organization. There were numerous changes made to the initial draft issued in June 2007.

Tax-exempt organizations need to be aware of what has evolved in this new increased information reporting environment. Every exempt organization, regardless of size, will find valuable information on which to act in this webcast.

• A summary of the re-redesigned "Core Form" 990
• What the IRS changed (and did not change) based upon the large number of public comments
• What new information your systems will need to produce to comply with changes to Form 990
• What we should be considering as we wait for final instructions for the Core Form and various schedules