Increased Transparency Goal for the Redesigned IRS Form 990

Tax-exempt organizations with years ending December 31, 2008 and larger organizations will begin the filing of the revamped IRS Form 990. The revised form is aimed at “enhancing transparency, promoting tax compliance and minimizing the burden on the filing organization,” according to the IRS website.
The form applies to all organizations with tax exempt status from hospitals to colleges to private charities. A core section of the Form 990 consists of 11 pages where the organization “tells it’s story.” Several schedules follow the core form based on assets and organization structure.
One major change to the core form is that the organization …read more