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IRS Updates, November 2008: Mini-Courses on the New 990 and a Colleges and Universities Project

Last month, the IRS launched on-line mini-courses on the new 990 and kicked off a colleges and universities compliance review.

New 990 Mini-Courses

The IRS has added five mini-courses to its on-line training site for exempt organizations:

  • Preparing to File the New Form 990—Overview of changes to the form and tips on getting ready to file it
  • The Redesigned Form 990, Part I—General instructions for completing the form and walk-through of the heading and financial sections
  • The Redesigned Form 990, Part II—Walk-through of the accomplishments, compliance, and compensation sections
  • The Redesigned Form 990, Part III—Walk-through of the governance, management, disclosure, and summary sections; the checklist of required schedules; and Schedule A
  • The Redesigned Form 990, Part IV—Walk-through of Schedules C, F, G, I, M, and R
The courses are available to all at no charge.

Colleges and Universities Compliance Project

The IRS is sending questionnaires to approximately 400 U.S. colleges and universities as part of its new colleges and universities compliance project. Commissioner Doug Shulman explained, "This effort reflects our work to build a better understanding of the largest, most complex organizations in the tax-exempt sector. The information gathered will help us identify issues and areas that may need more outreach and education or further scrutiny."

The questionnaires focus on unrelated business income, endowments, and executive compensation and are being sent to a cross section of private and public four-year colleges and universities. See a sample >

The service expects to issue a report on the project in 2009. See more information >

Suzanne E. Coffman, November 2008
© 2008, GuideStar USA, Inc.

Suzanne Coffman is GuideStar's director of communications and editor of the Newsletter.
Topics: Policy Education