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Old 03-16-2009, 01:10 PM
bayoucitybc
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Default Re: New 990 rules... :(

On Mar 12, 8:31*pm, dpb <n...[at]non.net> wrote:
- quote -

> > For a section 501(c)(3) organization filing Form 990, or Form 990-EZ,
> > that met the 331⁄ 3 % support test of the regulations under sections
> > 509(a)(1)/170(b)(1)(A)(vi),...

> Searching the IRS site -- couldn't find appropriate location to get the
> definition of the support test.
> I must say the new requirements are _exceedingly_ onerous for small
> foundations, etc., ... I've no clue how long it will take to try to
> generate the detail requested but w/ only a part-time Director whose
> primary function isn't to do bookkeeping and a single secretary onboard
> for about three months so far it ain't a pretty thing to have to do. *


There's a worksheet for this test on page 4 of the Form 990 Schedule A
for 2007. You may find it helpful to complete the worksheet even if
your organization is not required to file Schedule A.

This is not an audit focus for the IRS at the moment, so don't take
too much time away from the compensation schedules to do this!

-Crystal

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >
  #-1  
Old 03-13-2009, 12:31 AM
dpb
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Posts: n/a
Default New 990 rules... :(

- quote -

> For a section 501(c)(3) organization filing Form 990, or Form 990-EZ,
> that met the 331⁄ 3 % support test of the regulations under sections
> 509(a)(1)/170(b)(1)(A)(vi),...


Searching the IRS site -- couldn't find appropriate location to get the
definition of the support test.

I must say the new requirements are _exceedingly_ onerous for small
foundations, etc., ... I've no clue how long it will take to try to
generate the detail requested but w/ only a part-time Director whose
primary function isn't to do bookkeeping and a single secretary onboard
for about three months so far it ain't a pretty thing to have to do.

--

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >
 
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