Changes to IRS Form 990

Written by Jeff Bergman, Tax Manager

Our Dallas CPAs help explain the new guidance has been released for changes to the IRS Form 990.

It’s that time of year again. The time of year when nonprofit organizations have to start thinking of filing the IRS Form 990.

However, there have been some changes to the form. Here is some guidance relating to the changes to the IRS Form 990.

At first glance these changes seem significant, but there aren’t any major changes or additions to the types of information that must be reported. Many of the changes to the form 990 simply clarify existing requirements.

Some of the major clarifications to the Form 990 involve:

  1. Disclosure of compensation to management companies
  2. Electronic filing information for short-term returns
  3. Required schedules
  4. Revenue, expenses, and changes in net assets or fund balances
  5. Director’s compensation
  6. Requirements Type III supporting organizations
  7. Independent contractors

For more information about the recent changes to the tax Form 990, reference this IRS chart that helps guide nonprofit organizations on the changes, and contact Jeff Bergman, Tax Manager. Our Dallas CPAs focus on the nonprofit and education sectors.