IRS Offers Free Webinar & Workshops on the New 990

As a follow-up to last week's tax reminders email, we wanted to let you know that the Internal Revenue Service is offering several free online training opportunities related to the new Form 990 and other tax exempt recordkeeping issues.

November 4 IRS Webinar on the New Form 990

Next Tuesday, the IRS is sponsoring a free webinar on the new Form 990 for tax year 2008. Several IRS and tax-exempt sector experts will discuss changes to the form and answer your questions. The webinar is primarily aimed at tax professionals, so invite your CPA, but it should also be helpful for land trust leaders working to get their records in order. Click here to register.

• What:              Preparing for the New Form 990
• When:             Tuesday, November 4, 2008 -- 2:00 p.m. to 3:00 p.m. Eastern
• Where:            Register and view at:  www.taxtalktoday.tv
  
  

IRS Mini-Courses on Tax Exempt Issues

The Internal Revenue Service offers a variety of web-based trainings on Exempt Organization issues at StayExempt.org.  The Mini-Courses section features five new trainings on the new Form 990, in addition to other subjects like "Political Campaigns and Charities" and "What's Deductible?"  The 990 courses include:

• Preparing to File the New Form 990:  An overview of the changes to the form, and tips on getting ready to file it.
• The Redesignied Form 990 - Part I:  General instructions for completing the form and walk through of the heading and financial sections.
• The Redesigned Form 990 - Part II:  Walk through of the accomplishments, compliance, and compensation sections.
• The Redesigned Form 990 - Part III:  Walk through of the governance, management, disclosure, and summary sections; the checklist of required schedules; and Schedule A.
• The Redesigned Form 990 - Part IV:  Walk through of Schedules C, F, G, I, M, and R.

While the above schedules are important, you won't want to miss our Guide to the New Form 990 which covers the new conservation easement questions in schedule D.  Also, please note that the Form 990 training in the "Virtual Workshops" section of the site references the OLD 2007 Form 990. All sections of the site are free and do not require registration.

Clarification

A sharp reader of last week's ADVOCATES alert noticed that contemporaneous written substantiation letters are required for all charitable contributions of $250 and over, not just contributions over $250. It's a small detail, but with the IRS details matter.

Thanks for giving all these alerts a close read!