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October 02, 2007
IRS Outlines Revisions to New Form 990
The Internal Revenue Service is planning to make some significant changes to its proposal to revise the Form 990 informational tax return.
Among the key changes: the form will not require charities to calculate ratios that would measure fund-raising expenses, executive compensation, and operating expenses.
An IRS official told the Chronicle on Monday that the tax agency is also considering a plan to offer nonprofit groups a grace period on filling out some parts of the form.
What do you think of the latest changes to the proposed Form 990? Click on the comments link below this post to share your thoughts.
Commenting is closed for this article.
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