The IRS is providing a series of filing tips to help tax-exempt organizations and tax practitioners as they prepare to file the redesigned 2008 Form 990. The latest tip explains how to report executive compensation.

The 2008 Form 990 requires reporting of executive compensation by all organizations that file the form. This reporting, contained in Part VII of the core form and Schedule J (required for some organizations), changed significantly from 2007 and prior years. Beginning with 2008 tax years, organizations must report certain compensation information based on amounts reported on Form W-2 (for employees) or Form 1099-MISC (for non-employees). In addition, definitions of persons required to be listed as officers, directors, trustees, key employees, and the five highest compensated employees, changed from prior years.

Part VII of the core form requires summary information regarding compensation paid to certain persons by the filing organization and related organizations. It must be completed by all organizations that file a Form 990. In addition, organizations that pay compensation amounts that exceed certain levels must complete Schedule J. Schedule J requires detailed reporting of an organization’s compensation practices and types of compensation paid to certain persons.

The following tips and FAQs relate to core form Part VII and Schedule J executive compensation reporting on the 2008 Form 990.

1. Individuals Included
2. Calendar Year Reporting Required
3. Reporting Compensation Paid by Related Organizations
4. Order of Individuals Listed
5. Meaning of "Reportable Compensation" and "Other Compensation"
6. Filing Requirements for Schedule J
7. Reporting Certain Deferrals of Compensation
8. Executive Compensation Policies
9. Compensation Reported in Prior Year
10. Form 990-EZ Executive Compensation Reporting Unchanged

View and print all executive compensation tips (Adobe).