IRS Requests Comments on Form 990
June 13, 2011
As the second filing year for the revamped and expanded Form 990 comes to a close, the IRS is seeking input on select issues related to the form and certain schedules. According to Announcement 2011-36, the major redesign of the form is complete, but in an effort to make is easier to understand, the Service continues to refine it based on questions and comments from filers.
The topics IRS is seeking feedback on include:
- reporting of compensation, thresholds in particular
- revenue from government units
- net asset reconciliation
- reporting on audited financial statements
- identifying foreign grantees on Schedule F
- reporting bank deposits as loans or business transactions on Schedule L
- reporting component parts of community trusts
- scope of related organizations reporting on Schedule R
NACUBO, working with members of the Tax Council and the Accounting Principles Council, is preparing comments to submit by the August 1 deadline.
Contact
Mary Bachinger
Director, Tax Policy
202.861.2581
E-mail
Stay Current
Latest Headlines
Learn
Upcoming Events
- CAO and CBO Collaborations: Leveraging Institutional Capacity to Impact Effectiveness
August 5-6, 2013 - 2013 Planning and Budgeting Forum
September 16-17, 2013
Distance Learning
- WEBCAST: Improve Your NFP Audit and Accounting Guide IQ
Wednesday, June 26, 2013 1:00 PM ET - ON-DEMAND: The Higher Education Accounting Forum Online
- ON-DEMAND: OD: The Cashless and Paperless Business Office
- ON-DEMAND: Affordable Care Act: Implementation Roadmap for Colleges and Universities
Read
Business Officer
Publications
- A Guide to College and University Budgeting: Foundations for Institutional Effectiveness, 4th ed. - by Larry Goldstein
- NACUBO's Guide to Unitizing Investment Pools - by Mary S. Wheeler
- Managing and Collecting Student Accounts and Loans - by David R. Glezerman and Dennis DeSantis
Connect
NACUBO Opportunities
