The AICPA’s 990 Task Force said the changes improve transparency of reporting, aiding in performance assessment and oversight. The panel is concerned, however, that rushing implementation of the changes will impose significant costs on taxpayers and the IRS and may deter taxpayers’ efforts to improve the overall quality of tax reporting.
The panel recommends the IRS add an executive summary to highlight key information and give users at least a year to implement changes after the reporting requirements have been finalized and published.
The AICPA’s recommendations to accommodate successful implementation of the redesigned Form 990 include:





The AICPA also recommends changes to enhance clarity and
consistency in compensation reporting.
The AICPA’s letter to the IRS commenting on the redesigned Form 990 is available at www.irs.gov/pub/irs-tege/redesignedform990comments_aicpa.pdf or http://tax.aicpa.org/.