IRS seeks public comment on new Form 990
From The NonProfit Times
The Internal Revenue Service invites public comment on issues and frequently asked questions regarding the new Form 990, such as eliminating a section asking to report activity codes, reporting compensation to management and leasing companies owned by an organization’s leadership, and thresholds for reporting compensation to key employees.
Comments, which are due by Aug. 1, can be sent electronically to Form990Revision@irs.gov using “Announcement 2011-36” in the subject line, or mailed to Internal Revenue Service, Attn: Stephen Clarke (Announcement 2011-36), SE:T:EO (3C1), 1111 Constitution Ave., N.W., Washington, D.C. 20224.
The Form 990 was extensively redesigned in 2008 to “promote tax compliance and increase transparency,” and once again is coming under public comment, as it was in 2009 and 2010, to make the form “easier to understand and complete.”
The IRS is seeking public comment on whether or not activity codes that signify certain program service activities need to be identified, given that the current systems do not reflect the range of program services supplied by nonprofits.
