990

The Internal Revenue Service has issued the final version of the Form 990 for 2008. The new form is remarkably different from its predecessor. If you filed a Form 990 for 2007 or years earlier, you may remember a core form of nine pages and two schedules. The schedules for this form are only completed if the organization meets certain criteria.

The new form, on the other hand, has a core form of eleven pages and a total of sixteen schedules. The schedules will be completed only if your organization engages in the activity the particular schedule addresses.

There are many new questions in the revised form. However, not only is more information requested, but the way the information will need to be compiled may be different than past requirements.

Obviously, it is time to start gathering information for the new form.