The New Form 990 Law, Policy, And PreparationThe accurate and complete preparation of Form 990—the information return that must be filed annually by most types of tax-exempt organizations—is key to maintaining tax-exempt status, public image, and fundraising capabilities. In December 2007, the IRS released the newly redesigned Form 990. The publication of this significantly expanded return has created, and is creating, many new laws . . . and confusion. Recognizing that far too many nonprofit organizations are unprepared for what is coming their way, The New Form 990 channels its stellar author team's decades of legal expertise to provide tax-exempt organizations and tax return preparers with the help they need to properly, effectively, and accurately prepare the new return.Professionals working to prepare this new labyrinthine form are guaranteed to encounter many unexpected hurdles.Authors Hopkins, Anning, Gross, and Schenkelberg provide readers with guidance and a road map to help maneuver through the revised Form 990, including summaries of the law underlying each of the parts and questions in the return, so that tax-exempt organizations and their advisors can understand the background law whenformulating answers to the questions.Deftly covering both pre-existing and newly created laws as well as discussions of policy and preparation, The New Form 990 brims with line-by-line analyses as well as numerous checklists of steps to take to be in the best possible position to prepare the return. Coverage includes:Preparation of Parts I–XI and Schedules A–RCompliance tasksChecklist of schedulesCorporate governanceCompensationRevenue, expenses, and balance sheetsPublic charity statusLegislative activitiesReporting and disclosure requirementsSupplemental financial statementsTax-exempt schoolsFundraising and gaming activitiesTax-exempt hospitalsDomestic