The new Schedules J and R will cover compensation and related organizations in more detail than did the old Form 990.
New Schedule J will report compensation details. The current Part V-A and B schedules of compensation, benefit plans, and expense accounts for current and former officers, directors, trustees, and key employees will be on the new Schedule J. Also, it will include information from the current Schedule A, Part I on compensation of the five highest paid employees. There is also additional reporting regarding compensation practices and additional detail for various types of compensation. Only organizations paying certain amounts of compensation will be required to complete this form.
New Schedule R consolidates information on related organizations currently reported in several different places on the Form 990 and Schedule A. The schedule will be completed by organizations that own a controlling interest in a partnership, LLC, corporation, trust, or other exempt entity and also by organizations that are under common control of one of these entities.
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