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Form 990 Parts V (Other Tax Issues) & I (Financial Summary) Webinar


Sept. 22
12:30 - 2:00 p.m.

CPE Credits



PICPA Member: $64 | Nonmember: $74

 More Information

Course No.
This webinar is hosted by PICPA's partner, CPA Crossings, LLC. After registering, you will receive an email from with the log-in information.


Session 9 of Borenstein's Form 990 Foundational Series: This session focuses first (and primarily) on Part V, providing explanation of each inquiry from two perspectives – the line’s underlying compliance requirement, and the business need ramifications they generate. Part V invokes multiple compliance points set out in federal tax law (such as payroll tax obligations, and donors’ ability to access charitable contributions deductibility) that are not elsewhere addressed in the 990's Core Form or Schedules. The author/instructor addresses issues and nuances not covered in the instructions and provides preparation tips. Part I's preparation needs start with avoiding calculation confusion when completing the Summary Financials totals at lines 8-22. These lines' abbreviated categories and oddball capture of "fundraising expenses" from competing Core Form parts are covered, along with tips on addressing questions readers may have in exploring this part. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Learning Objectives:
After attending this presentation you will be able to...

  • Identify the "gotcha" questions in Part V: (1) regarding payroll tax reporting (including back-up withholding), (2) need to file unrelated business income tax returns, and (3)disclosures related when soliciting and/or receiving certain contributions
  • Apply overview background information to be able to inform filers of their basic business needs that arise outside of IRS enforcement of Form 990 filing obligation
  • Assist filers in appreciating both e-filing mandates and common misunderstandings of what conditions yield a true "common paymaster"
  • Identify where filers should be apprised of need for additional tax advice


The major topics that will be covered in this class include:

  • Addressing Part V's additional tax compliance points for 990 filers (i.e., statutory requirements outside of those that relate to maintaining tax-exemption-qualification)
  • Substantive background on the underlying line-specific tax needs covered in four key lines: 1) Use of a common paymaster (and its impact on) “number of employees” [and ramifications on mandated e-filing applicable to larger organizations] (Line 2)  2) When a Form 990-T filing is (and is not) required (Line 3a)  3) The quid pro quo solicitation disclosure mandates (Line 7a/7b) 4) Need to communicate when soliciting donors if the organization is not eligible to receive tax-deductible contributions (Line 6a/6b)
  • Existence of other, and often overlapping, disclosures and/or filings required when a filer captures specific amounts of tax-deductible charitable contributions, including, in certain circumstances, donations of property
  • Explanation of the basics behind the excise tax schemes applied to filers who either: hold "donor-advised funds" (Lines 8 and 9); or are potentially reached by IRC section 4960's executive compensation tax (Line 15)
  • Potholes in culling the current and prior year’s tax return information necessary to complete Part I's Lines 8–22


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