The major topics that will be covered in this class include:
- Exploration of the challenges in determining a filer’s: current Key Employees versus Officers: and those who need be disclosed as “formers” – individuals with "current" status in prior years but NOT in the current year, who then are to be tested for either “former” Officer/Key Employee/High 5 status or “former” Trustee/Director status
- Why and how all of this matters (including the additional compensation detailing that is required on Schedule J's Part II when a manager’s circumstances "trigger" that schedule's application)
- Handling the recalcitrant Trustee-Director who claims limited involvement with the filer's governance and Officers and other managers who may refuse to return questionnaires
- Further exploration of key compensation reporting challenges: (1) required "dial back" to the calendar year for organizations with a year other than 12/31: (2) 990-instructions-defined “deferred comp” overall and via examples: (3) compensation disclosures (and reporting exceptions) in BOTH cases of related organization’s pay and when compensation is paid by an Unrelated organization to an individual who is serving the filer: and (4) comparison of 990 reporting of compensation with IRC section 4960's "remuneration"-based excise tax
- Complex third-party payor reporting situations: procuring services of an individual from a management company or employee-leasing organization: common paymaster reporting scenarios: and when an individual’s services to the filer are paid by an Unrelated organization