If you are a non-profit firm, now is the time to contact a local CPA to discuss the changes in IRS Form 990. We agree with Gene Takagi that it's best to change to the new form this year. Takagi said he believes that non-profits who change to the newer form will gain some advantages by adopting the change.
Notes the California based tax attorney in a recent blog: "In following years, first-time filers that make mistakes will stand out more as experienced filers advance on their learning curves. Moreover, by working through the Form 990 this year, you'll learn about the governance policies the IRS "encourages" you to adopt. This will allow you to consider having such policies adopted and in place in 2009 for next year's filing."
As a CPA firm that has considerable experience in advising non-profits, our staff is well prepared to help executives for these organizations understand the nuances of the law.
Tuesday, April 28, 2009
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