This session covers proper identification of the individuals who are required to be reported on Form 990 Part VII for both calendar year versus fiscal year organizations. Key topics are: (1) Evaluation of when additional disclosures are called for when officers are engaged through a management company will be addressed (for purposes of Part VI Governance, Schedule O, Part VII-B, and potentially, Schedule L); (2) Contrasting the reporting requirements for Schedule J and those for core form Part VII-A both for disclosing compensation overall and in favor of understanding how a consistent filing position can avoid confusing the consumer of the information provided on Form 990; and (3) Understanding how to analyze the potential triggering of new IRC section 4960’s excise tax on executive compensation based upon available guidance from Treasury (if issued) or in good faith otherwise.
Compare what relationship and compensation data is required upon disparate parts of the Form 990
Determine areas where taxpayers may want to over-disclose compensation information in order to avoid confusion
Analyze information and uncertainties as to the new 4960 excise tax on executive compensation (including where taxpayers may need to document a tax position or request a ruling).