- NY Credits : 7.0
- TX Credits : 7.0
- IRS Enrolled Agent Credits : Federal Tax/Tax Related Matters - 7.0
Comprehensive Guide to Form 990-PF
Private foundations are becoming a very popular tax-saving technique among families with large estates. This course has been designed to provide a basic but thorough discussion of private foundations and their federal tax compliance requirements. In that, the program covers how to determine an organization's status in the not-for-profit universe and the advantages and disadvantages of that status, including the multitude of rules regarding acts of self-dealing, mandatory distributions, excess business holdings, jeopardizing investments, and taxable expenditures. NOTE: This course has been updated for the relevant 2018 provisions of the Tax Cuts and Jobs Act and Bipartisan Budget Act, when and if applicable. This course is most beneficial to professionals new to IRS Form 990-PF who may be at the staff or entry level in organization but also for a seasoned professional with limited exposure to the tax return for private foundations.
Upon successful completion of this course, the user should be able to:
identify differences between private foundations and public charities,
recognize the advantages and disadvantages of private foundation status,
recognize the various rules and requirements associated with private foundations, as well as the excise taxes that apply for failure to meet those requirements,
identify a disqualified person in relation to a private foundation, and
recognize components of a completed Form 990-PF.