The major topics that will be covered in this class include:
- What every 990 preparer needs to know about the benefits of a 501(c)(3) organization being a so-called public charity rather than a private foundation (including understanding how Schedule A, Part I "claims" such qualification)
- The public policy precepts and resulting emphasis preparers must apply in approaching the predominant "public support test" in favor of completion of Schedule A's Part II
- The overarching needs behind preparing Schedule B for filing and, as necessary, its related worksheet: which donors are to be listed and with what identifying information required to be provided to the IRS, depending on 501(c) status of the filer; and what information 501(c)(3) filers will omit from the public inspection copy of the 990
- Introduction to the baselines driving each of the Schedule C's three Parts: undertaking electioneering in favor of, or opposition to, candidates or the political parties supporting them (Part I); lobbying reporting when same is undertaken either in the tax year (for non-electors) or regardless of activities, when a 501(h) election is in place (Part II); and the existence of the so-called "proxy tax" and its demands when 501(c)(4), (5) or (6) organizations with dues-paying members incur electioneering or lobbying expenses as determined by a Code section that tracks non-exempt organization definitions