Final Form 990 Instructions Released
August 19, 2008
The Internal Revenue Service has completed the final instructions for the redesigned Form 990, effective for tax year 2008. The final instructions are available on the IRS web site with line-by-line tips and examples to assist filers while completing the expanded form.
In addition, the new instructions contain a "sequencing list" to help institutions and organizations determine the order in which to complete various portions of the form, such as:
- revised general and specific instructions for the core form and schedules;
- a glossary of terms;
- a compensation table to help organizations determine where and how to report types of compensation paid to officers, directors, trustees, key employees and highest compensated employees;
- new appendices for reporting requirements; and
- guidance regarding group returns and for organizations to report activities conducted indirectly through joint ventures and disregarded entities.
NACUBO’s Tax Council and other members of the tax-exempt community have been actively involved in providing comments to revise and redesign the instructions.
The IRS expects to release instructions to the 2008 Form 990-EZ, Short Form Return of Organization Exempt from Income Tax, in the next few weeks.
NACUBO contact Mary M. Bachinger, director, tax policy
- NACUBO Expresses Concerns with ED Proposal to Expand Federal Financial Responsibility Rules
- IRS Proposes Modifications to 1098-T Reporting
- ED Policy to Require Annual Student Aid Compliance Audits Beginning FY17
- 2016 Planning and Budgeting Forum
September 19-20, 2016
- 2016 Big Opportunities for Small Institutions
September 20-21, 2016
- 2016 Tax Forum
September 25-27, 2016
- ON-DEMAND: The CBO's Role in Diversity and Inclusion on Campus
- ON-DEMAND: The Clery Act: Strategic Planning to Mitigate Institutional Risk
- ON-DEMAND: Title IX: Key Issues Surrounding Institutional Compliance
- ON-DEMAND: NACUBO Live! Higher Education Accounting Forum
- ON-DEMAND: Responsibility Center Management: Two Different Perspectives