Tax Exempt Organizations-Basic Issues for Operating, Organizing, and Preparing Forms

Course Details


Thursday, August 20, 2020

7:30am – 3:00pm (Registration: 7:00am)



Field of Study


CPE Credit

8 hours CPE credit

Level of Knowledge







For tax exempt organizations, it is not about calculating income tax. It is about showing to the IRS at inception and annually that the organization is entitled to be classified as a tax exempt organization because of its purpose as reflected in its management and activities. Exempt organizations have unique tax rules and special forms. The IRS is especially sensitive to abuses of exempt status. From fundamentals needed to obtain exemption and to prepare Form 990, this program teaches what the informed accounting and finance professionals in public practice and inside a tax-exempt organization must know.


 What is an exempt organization?
 The importance of knowing the organization's purpose
 Special status of charitable organizations
 When and how to apply for exempt status
 Notice requirement for new 501(c)(4) organizations
 Which organizations are required to file a Form 990?
 Unrelated business taxable income-the fundamentals
 Statutory exclusions under IRC Secs 512, 513, and 514
 In-depth analysis of Form 990, Form 990-EZ, and 990-N, and public disclosure requirements
 Fund raising disclosure requirements of non-charitable exempt organizations
 IRS's expectation for management of the organization
 Introductions to private inurement and intermediate sanctions


Participants will be able to:
 Understand special filing requirements of exempt entities
 Distinguish between charitable and other not-for-profit entities
 Recognize unrelated business income
 Prepare Form 1023, 1023-EZ, or 1024 and related schedules
 Prepare Form 990, 990-EZ, and 990-N and related schedules
 Be aware of traps and pitfalls that can lead to penalties or loss of exempt status

Designed For

Accounting and financial professionals that have any involvement with tax-exempt organizations and preparation of Forms 1023, 1023-EZ, 1024, 990, 990-EZ, and 990-N. May also be suitable for public practice.

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