Form 990 Parts V (Other Tax Issues) & I (Summary Financials)

Course Details


Thursday, January 28, 2021

12:00pm – 1:00pm

Field of Study


Course Number


CPE Credit

1 hour CPE credit

Level of Knowledge



CPA Crossings


Some knowledge of Form 990 helpful


This drill-down session focuses on Part V, providing substantive background materials on "what really is" being asked, or at stake in each of the inquiries in Part V. This part requires filers to disclose their compliance with multiple other areas of federal tax law that are not elsewhere addressed in the 990. The materials and the author/instructor's highlighting of each Part V inquiries include practical preparation points on many issues and nuances not covered by the instructions.

The session also addresses how to avoid calculation confusion when completing the Summary Financials information required by Part I's lines 8-22. A diagram of the summarizing financials' abbreviated categories (which detail "similar" items of revenues and expenses, along with basic net assets info) is provided. Explanation of why fundraising expenses are handled disparately is provided, along with tips on addressing questions others raise about this "Part".

This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.


The major topics that will be covered in this class include:

  • Line-by-line exploration of Part V's regulatory laundry-list of additional tax compliance points the exempt sector is responsible for outside of maintaining exemption
  • Substantive background on the underlying line-specific tax issues relating to four key lines:
  1. How the presence of a common paymaster alters the count of "number of employees" [and how the latter does or does not factor into the current mandatory e-filing rules for larger organizations] (Line 2)
  2. When a Form 990-T filing is required (Line 3a)
  3. The quid pro quo solicitation disclosure mandates (Line 7a/7b)
  4. Need to communicate with solicitations that the organization is not eligible to receive tax-deductible contributions (Line 6a/6b)
  • The multiple, often overlapping, disclosures or tax filings required when a filer receives large tax-deductible contributions or certain types of property toward such contributions
  • Explanation of the basics behind the excise tax schemes applied to filers:
  1. holding "donor-advised funds" (Lines 8 and 9)
  2. subject to either of the two new excise tax schemes added by the Tax Cuts and Jobs Act
  • Potholes in culling the current and prior year's tax return information necessary to complete Part I's Lines 8-22


After attending this presentation you will be able to...

  • Identify the three "gotcha" questions in Part V: (1) regarding payroll tax reporting, (2) need to file unrelated business income tax return, and (3) disclosures related to soliciting or receiving contributions
  • Apply overview background information in communicating with filers on multiple non-990
  • Assist filers in appreciating both the current e-filing trigger and in avoiding the common misunderstandings of what conditions yield a true "common paymaster"
  • Identify where filers should be apprised of additional areas where tax advice/counsel would be appropriate

Designed For

Public accounting tax and audit staff, and nonprofit organization's Treasurers, CFOs and finance/compliance staff

Registration for this course has passed.

Course Pricing

Member Fee

Applicable if you are a HSCPA member in good standing.

Non-Member Fee

Applicable if you are not a HSCPA member.

Your Price $64.00

CPE Choice

Learn more about CPE Choice.
This course does not qualify for CPE Choice.

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