Exempt Organizations Advisory - IRS Video Series on Form 990

Catherine W. Wilkinson (cwilkinson@steptoe.com)
Suzanne Ross McDowell (smcdowell@steptoe.com)

As part of its ongoing efforts to educate exempt organizations and tax preparers about the revised Form 990, the IRS has developed "The New Form 990: Getting Started" a case study with video program. The program introduces a hypothetical organization and through a series of videos illustrates key points and answers questions about the reporting requirements of the Form 990. Using the facts from the hypothetical organization, seven videos, lasting five to ten minutes each, cover the following topics: Overview; Revenue and Expenses; Balance Sheet, Supplemental Financial Statements, and Schedule D; Program Services, Other IRS Filings and Tax Compliance; Compensation; Governance; and Summary, Schedules, Signatures. The IRS recommends reading the case study first and then viewing the videos in order, but they can be watched in any order or watched selectively.