Form 990: Exploring the Form's Complex Schedules

186  |  TSCPA In Person Events  |  Advanced  |  Scheduled

Description

Mastery of the current Form 990 beyond its Core Form pages requires understanding of the Form's transparency demands relating to multiple complex issues: transactions with certain insiders; expanded disclosure of highly compensated individuals' calendar year compensation; identifying and reporting in the presence of, "related organizations," nuances of the two "public support tests;" undertaking of foreign operations; and more. This course covers the most advanced tax and nonprofit issues that are the subject of the Form 990's Schedules. Participants will not only gain an understanding of the tax and practical points necessary to complete Schedules A, C, F, J, K, L, N and R of the current Form 990, but also be advised as to how to communicate with exempt clients on each of these Schedules' unique demands.

Credits

Number of Credits Type of Credits
6.75 CLE
8 Taxes

Prerequisites

Basic Knowledge of the "Core Form" 990 Parts I-XII

Highlights

  • Key issues that affect how "public charities" are classified and related Schedule A reporting
  • The various public policy realms inquired of in Schedule C
  • Complexity and problems within Schedule F's instructions
  • Identification of, and reporting in Schedule R, of related organizations
  • The various types of "Transactions with Interested Persons" required to be disclosed in Schedule L
  • Critical issues to avoid in Schedules K and N
  • Items to watch when completing Schedule J's Parts I and II

Objectives

  • Distinguish between the in-flows of each of the "public support tests," apply each test's calculations, and identify both what makes a "supporting organization" and note such entities' "Types" and attendant reporting obligations
  • Distinguish the reporting obligations of 501(c)(3) organizations with respect to "lobbying" versus that of the "proxy tax" in place for 501(c) (4), (5) and (6) organizations; and note required "electioneering" reporting of all 501(c) entities
  • Recognize the triggers by which Schedule F is mandated
  • Recall the definitions of "Interested Persons" applied within each Part of Schedule L
  • Recognize the expanded compensation reporting and "management practices" inquired of in Schedule J
  • Appreciate both the need for bond counsel involvement in completing Schedule K and the diverse scenarios that trigger Schedule N
  • Identify the common reporting disclosures required in the presence of "related organizations" and the unique reporting demands applied based on type of entity

Prices

Member (Early Bird)
$295.00
Non-Member (Early Bird)
$395.00
Member
$345.00
Non-Member
$445.00
Your Price: $445.00

This is your base price and does not reflect any additional session fees, optional add-ons, or guest registrations. Early Bird rates will be applied to all registrations made prior to October 5, 2018. AICPA discount is included for eligible members.

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$25.00

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Facilitators

James Buckley, CPA MSF

Jim Buckley has proven progressive and extensive experience in auditing, fieldwork, risk assessment, research and financial reporting. Jim partners with public, private, manufacturing, casino, municipal government and non-profit clients to tackle efficiently and effectively, complex internal control systems, plus financial accounting and authoritative reporting requirements. He has fourteen years’ instruction experience through PWC and the AICPA along with comprehensive tax experience researching, planning, and preparing corporate, partnership, individual, and multi-state tax returns, audits, and appeals. Additional professional highlights are as follows:

James worked at UHY, LLP for five years as a Principal performing the listed responsibilities Engagement management, client service, sales, leadership, people development and strategic business planning for municipal and not-for profit clients. Manage risk and ensure quality control on all engagement activities to ensure communicating correct, complex technical issues and solutions to his clients. Develop and present key topics for both internal and external classes. Make presentations at third party events and successfully market firm services.

Pricewaterhouse Coopers for thirteen years as Manager -Assurance Learning & Education Facilitate PwC’s Learning and Education Department, including communicating with diverse group of professionals with different levels of experience and varied backgrounds. Instructed audit methodology and technical accounting training courses to all levels of national and international PwC professionals. Helped lead PwC’s global team that conceptualized developed and wrote a new training course for 1st year senior associates given to over 3,500 global participants.

Manage assurance and audit services to over 30 clients; help strengthen their internal controls, risk monitoring and strategic risk assessments. Support client existing internal audit function and provide outsourced internal audit solutions by customizing audit plans to address their unique risks and objectives. Audit complex technical accounting areas including revenue recognition, inventory variance analyses, goodwill and intangible impairment analysis, purchase accounting for business combinations, stock based compensation and business segments. Continuously communicate with clients, present audit results to management and the Audit Committee, and educate clients on emerging accounting issues. Key member of ten fraud investigation engagements to advise and prepare written recommendations based on misappropriated assets of municipal and casino clients.

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