EO Update September 11, 2009
Issue Number: 2009-13
Inside This Issue
Special Training Edition
New! On-line Tool to Help EOs Complete 2008 Form 990: Form 990: Getting Started - A Case Study
New! Mini-Course Provides Overview of Form 990-EZ
Providing Disaster Relief Through Charitable Organizations: New Two-Part On-line Training
Section 403(b) Tax Sheltered Annuities: New Training Courses for Employees and Employers
1. New! On-line Tool to Help EOs Complete 2008 Form 990: Form 990: Getting Started - A Case Study
Thousands of tax-exempt organizations are in the process of gathering information and completing the redesigned 2008 Form 990. This new on-line tool uses a practical example to show organizations how to address key areas of the redesigned Form 990 and Schedules. An organization can compare its own situation to the case study and learn how to properly complete its own form.
Getting Started includes a sample filled-in Form 990 and Schedules A and O, prepared using information about a hypothetical organization's mission, board of directors, financial information and policies. This series of seven, short, on-line videos explain how to complete key sections of the Form 990 and highlights some of the form changes. Find this new on-line resource as well as other resources for 990 filers on IRS.gov.
2. New! Mini-Course Provides Overview of Form 990-EZ
Because of changes in filing thresholds, many more organizations are eligible to file Form 990-EZ. To learn whether your organization may file the EZ and to learn more about this shorter, simpler form, watch this mini-course at www.Stayexempt.irs.gov.
3. Providing Disaster Relief Through Charitable Organizations: New Two-Part On-lineTraining
Hurricane season is well underway and the recent California wildfires remind us of the important role charitable organizations play in providing disaster relief. Learn how charitable organizations may provide relief in disaster situations and the special tax rules that apply to such organizations in Part I of this two-part mini-course on StayExempt.irs.gov. Part II of the course covers the special rules that apply to employer-related organizations, the deductibility of contributions for disaster relief and the tax treatment of payments made to recipients of disaster assistance.
4. Section 403(b) Tax Sheltered Annuities: New Training Courses for Employees and Employers
Are you an employee of a 501(c)(3) organization or a public school, college or university that has a tax sheltered annuity (TSA) plan? Learn the advantages of this type of retirement plan and how they work in this specialized mini-course for employees of organizations that have TSAs.
If your organization has a section 403(b) TSA plan, it is important to routinely review the current tax laws and regulations. View a useful presentation for employers about recent regulatory changes.