New Form 990 Taken to Task

The IRS is assessing hundreds of comments, including those by an AICPA task force, on its draft revised Form 990, Return of Organization Exempt From Income Tax . The task force suggested a new summary should emphasize exempt purpose and activities, rather than compensation and fundraising and total expense ratios. It also expressed concern about the clarity, comparability and fairness of compensation reporting and recommended at least a year of transitional relief after publication of new requirements.

IRS officials have already decided to drop some questions from the summary, Ronald J. Schultz, an IRS senior technical adviser, told the American Bar Association Section of Taxation at its fall meeting in Vancouver, Tax Notes Today reported. Comments submitted to the IRS can be read at,,id=173106,00.html.


Year-end tax planning and what’s new for 2016

Practitioners need to consider several tax planning opportunities to review with their clients before the end of the year. This report offers strategies for individuals and businesses, as well as recent federal tax law changes affecting this year’s tax returns.


News quiz: Retirement planning, tax practice, and fraud risk

Recent reports focused on a survey that gauges the worries about retirement among CPA financial planners’ clients, a suit that affects tax practitioners, and a guide that offers advice on fraud risk. See how much you know with this short quiz.


Bolster your data defenses

As you weather the dog days of summer, it’s a good time to make sure your cybersecurity structure can stand up to the heat of external and internal threats. Here are six steps to help shore up your systems.