New Form 990 Phased in for Smaller EOs

Smaller exempt organizations received transition relief as the IRS released its revamped Form 990, Return of Organization Exempt From Income Tax, for tax years 2008 and following. Organizations with gross receipts under $1 million or total assets under $2.5 million will be allowed to use Form 990-EZ for tax year 2008. The short form is four pages, as opposed to 11 pages plus applicable schedules for the long form. The limit falls in stages to $200,000 in gross receipts and $500,000 in total assets for tax years beginning with 2010. Still, that’s double the cutoff for the 2007 tax year. Also for 2010, still-smaller organizations will double their limit from the 2007 amount for eligibility to file by e-postcard (Form 990-N), to $50,000 in gross receipts.


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.