The New 990
Completing the first major overhaul in a generation of the informational return that most charities must file with the federal government, the Internal Revenue Service released this week final instructions for the redesigned Form 990.
The IRS modified some language in the instructions, including tinkering with the definition of a “key employee” to limit the number of executives whose compensation must be reported.
Read more from The Chronicle of Philanthropy. And in all cases, consult your organization’s tax advisor or attorney to see how/if these changes will effect you.