Form 990 Redesign for Tax Year 2008 (Filed in 2009): Promoting Tax Compliance
How does the new form promote tax compliance?
The transformation of unstructured attachments in the 2007 Form 990 to formal schedules in the 2008 form promotes uniform and complete reporting of requested information. Modifications to reporting of compensation and related organization activities will provide more complete information regarding complicated compensation and financial arrangements that may raise concerns about private inurement, excess benefit, and private benefit. The new schedules for foreign activities, hospitals and tax-exempt bonds will provide new information about how an organization conducts activities consistently with its exempt purpose. The schedule for non-cash contributions will allow the IRS to more closely scrutinize particular types of contributions for compliance with valuation and charitable deduction requirements.