The major topics that will be covered in this class include:
- Addressing Part V's additional tax compliance points for 990 filers (i.e., statutory requirements outside of those that relate to maintaining tax-exemption-qualification)
- Substantive background on the underlying line-specific tax needs covered in four key lines: 1) Use of a common paymaster (and its impact on) “number of employees” [and ramifications on mandated e-filing applicable to larger organizations] (Line 2) 2) When a Form 990-T filing is (and is not) required (Line 3a) 3) The quid pro quo solicitation disclosure mandates (Line 7a/7b) 4) Need to communicate when soliciting donors if the organization is not eligible to receive tax-deductible contributions (Line 6a/6b)
- Existence of other, and often overlapping, disclosures and/or filings required when a filer captures specific amounts of tax-deductible charitable contributions, including, in certain circumstances, donations of property
- Explanation of the basics behind the excise tax schemes applied to filers who either: hold "donor-advised funds" (Lines 8 and 9): or are potentially reached by IRC section 4960's executive compensation tax (Line 15)
- Potholes in culling the current and prior year’s tax return information necessary to complete Part I's Lines 8–22