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 www.irs.gov/charities/article/0,,id=173106,00.html.

SPONSORED REPORT

Keeping client information safe in an age of scams and security threats

A look at the Dirty Dozen tax scams and ways to protect taxpayer information.

TECHNOLOGY Q&A

How to create maps in Excel 2016

Microsoft Excel 2016 has two new mapping capabilities. J. Carlton Collins, CPA, demonstrates how to make masterful 2D and 3D maps in Excel 2016.

QUIZ

News quiz: IRS enforcement, a hot job, and audit value

The IRS’s 2016 Data Book, a “hot job” of particular interest at this time of year, and insight into how executive and audit committees view the insights from financial statement audits received attention recently. See how much you know with this short quiz.