TTCR
TOOLBOX FOR THE PREPARATION OF TAX COMPLIANCE RETURNS:
FORMS 990, 709, AND 5500
This course will enable participants to understand the practical issues of preparing the Tax Exempt Organization Form 990, Retirement Plan Reporting Form 5500, and Gift Tax Form 709. This course covers the disclosure requirements and the information returns necessary. This is a practical, how-to course that covers these ancillary tax forms prepared by many practitioners.
Major topics include:
- Understanding which form to file and when
- Form 990-PF: how a Private Foundation may reduce its tax rate to 1%
Review of Proposed new Forms 990, expected to be released mid-2007.
- Form 709: gift tax reporting; the effect of the lifetime exclusion
- Forms 5500, 5500EZ, and related schedules: practical planning points on all substantive issues regarding the Form 5500 series; determining whether a retirement plan is a large or small plan; is a plan required to have a audit; who is a plan fiduciary, what related schedules must be attached to Form 5500.
- Changes in Form 5500 reporting due to the Pension Protection Act of 2006.
Step-by-step, line-by-line analysis and assistance
- The inclusion of up-to-date revised forms and references
Designed for: CPAs involved in the preparation of tax-exempt entities, private foundations, gift, and information returns for retirement plans.
Level of knowledge: Basic
Field of study: Taxes |
