General Information

Goal

This introductory workshop is presented by experienced specialists from the Internal Revenue Service’s Exempt Organizations Division and covers what 501(c)(3) organizations must do to comply with tax obligations and keep their taxexempt status. It is designed for administrators or volunteers who are responsible for or interested in the organization’s tax compliance. The workshop qualifies for six CEs for Enrolled Agents and Registered Tax Return Preparers.

Topics include:

Tax Exempt Status - Definition of tax exempt status • Types of exempt organizations • Organizational and operational tests • Benefits of exempt status • Private foundations vs. public charity status • Advance rulings • Jeopardizing tax-exempt status • Case study activity

Unrelated Business Income (UBI) - Three parts of the UBI test • Common examples of UBI • Exceptions and modifications to UBI • Gaming activities • Form 990-T and Form 990-W

Employment Issues Independent contractor vs. employee • Statutory employees and nonemployees • Overview of employment tax forms • Quiz

Form 990 Series - Overview of the Forms 990, 990-EZ, and 990-N • Tips on recordkeeping and answers to frequently asked questions • Presentation of resources and tools available to exempt organizations

Required Disclosures - Public inspection rules • Disclosure rules • Substantiation of contributions