Weathering the Storm: Helping Exempt Organizations in Troubled Times
Seminar Level: Beginner
Field of Study: Taxes
Important information regarding CPE credit: The IRS Office of Professional Responsibility accepts this seminar for one (1) Continuing Professional Education (CPE) credit for enrolled agents. If you are not an enrolled agent, please consult with your respective state licensing agency regarding acceptability of this credit.
IRS-Communications & Liaison IS REGISTERED WITH THE NATIONAL ASSOCIATION OF STATE BOARDS OF ACCOUNTANCY (NASBA) AS A SPONSOR OF CONTINUING PROFESSIONAL EDUCATION ON THE NATIONAL REGISTRY OF CPE SPONSORS. STATE BOARDS OF ACCOUNTANCY HAVE FINAL AUTHORITY ON THE ACCEPTANCE OF INDIVIDUAL COURSES FOR CPE CREDIT. COMPLAINTS REGARDING REGISTERED SPONSORS MAY BE ADDRESSED TO THE NATIONAL REGISTRY OF CPE SPONSORS, 150 FOURTH AVENUE NORTH, SUITE 700, NASHVILLE, TN, 37219-2417. WEBSITE: WWW.NASBA.ORG.
DISCLAIMER: THIS SEMINAR WAS FILMED IN ORLANDO, FLORIDA, ON AUGUST 4, 2009, AND THE INFORMATION WAS CORRECT AT THE TIME OF RECORDING.
The Exempt Organizations (EO) unit of the Tax Exempt and Government Entities Division delivered this seminar at the Orlando Nationwide Tax Forum in August 2009.
This seminar provides a brief overview of issues confronting exempt organizations in light of the current economic climate. Topics include: best practices in organization governance, using the new Form 990 to promote your organization and increase transparency, conducting business activities without jeopardizing your exempt status, treating non-cash gifts and donated property correctly, and merging and terminating exempt entities.
By the end of this presentation you will:
- learn what you can do to help your exempt organizations weather these troubled times
- recognize important changes to the new Form 990 and how they impact your client
- understand the importance of establishing and disclosing your client's organizational policies, practices and certain documents
- identify the three steps in establishing a rebuttable presumption of reasonableness
- be able to list the six different categories of compensation reported on Part VII of Form 990
No prerequisites or advanced preparation are required for this seminar.
Continuing education credit is available for this seminar. If you would like to earn credit for a seminar, you must have an account with the IRS Nationwide Tax Forums Online and purchase the seminar. You can purchase seminars one at a time or as a group. After completing the purchase through PayPal, you will be returned to your status page on www.irstaxforumsonline.com.
NOTE: You have one calendar year from the date of purchase to complete the seminar.
NOTE: Purchasing a seminar via PayPal e-check can take up to 10 business days to post. Your seminar will only appear in your status page after your e-check has cleared.
Navigating a Seminar for Continuing Education Credit
Once you purchase a seminar, it will appear under the "In Progress" tab on your status page. Click on the seminar title to initiate navigation of fully self-directed learning individualized to your pace. Working at a computer at your convenience provides you the flexibility to start, pause, and stop the presentation. You can download and print the seminar's edited transcript as well as the Power Point slides. Captions may be turned off.
Start the seminar by clicking on chapter one. Once you complete a chapter, navigation will appear at the top of the screen and take you to the first review question, followed by the next chapter, etc. A review question follows each chapter. After you have completed the video and review questions, you must take and pass a final examination. All review and final examination questions are multiple choice.
The seminar may be viewed repeatedly. However, the final examination can only be attempted two (2) times. You must achieve a passing rate of 70% to receive continuing education credit. A certificate of completion may be printed for each seminar successfully completed. Prior to printing the certificate of completion, there will be an opportunity to provide feedback on your learning experience.
You have one calendar year from the date of purchase to complete the seminar. Unexpired seminars that have not been completed will appear under the “In Progress” tab on your status page. Courses passed will appear under the “Completed and Passed” tab on your status page. Courses failed will appear under the “Failed” tab on your status page.
Prefer to audit this seminar? Clicking the “Audit” button will take you to chapter one of the seminar. Once you complete a chapter, navigation at the top of the screen will appear to take you to the next chapter. You can download and print the seminar’s edited transcript as well as the Power Point slides. Captions may be turned off. There are no review questions or final examination when auditing a seminar, and there is no credit for auditing a seminar. If you would like to audit this seminar (for no cost and no continuing education credit), click here