The New Form 990, scheduled to be used for years ending on or after December 31, 2008, is available for viewing at the IRS web site. This form is still in draft form and subject to change.
The old Form 990 was nine pages long and had eleven separate parts to the form. In addition, Schedule A and Schedule B were available if required by the filing organization. The new Form 990 is ten pages long and has nine separate parts. In addition, fifteen new schedules (A through N and R) may be required for filing.
The number of questions required to be answered and the level of detail has significantly increased on the new form and schedules. This is especially true of political activity, foreign activity, fundraising activity, compensation, governance, and related entities.
My next several blogs will briefly explain what the new schedules are about. Contact me if you have any questions about the website or revisions that are anticipated.
