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


April 22
6:00 - 7:00 p.m.

CPE Credits



PICPA Member: $49 | Nonmember: $74

 More Information

Course No.
Some knowledge of Form 990 helpful
This webinar is hosted by PICPA's partner, CPA Crossings, LLC. After registering, you will receive an email from with the log-in information.


This drill-down session focuses on Part V, providing substantive background materials on "what really is" being asked, or at stake in each of the inquiries in Part V. This part requires filers to disclose their compliance with multiple other areas of federal tax law that are not elsewhere addressed in the 990. The materials and the author/instructor's highlighting of each Part V inquiries include practical preparation points on many issues and nuances not covered by the instructions. The session also addresses how to avoid calculation confusion when completing the Summary Financials information required by Part I's lines 8-22. A diagram of the summarizing financials' abbreviated categories (which detail "similar" items of revenues and expenses, along with basic net assets info) is provided. Explanation of why fundraising expenses are handled disparately is provided, along with tips on addressing questions others raise about 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 three "gotcha" questions in Part V: (1) regarding payroll tax reporting, (2) need to file unrelated business income tax return, and (3) disclosures related to soliciting or receiving contributions
  • Apply overview background information in communicating with filers on multiple non-990
  • Assist filers in appreciating both the current e-filing trigger and in avoiding the common  misunderstandings of what conditions yield a true "common paymaster"
  • Identify where filers should be apprised of additional areas where tax advice/counsel would be appropriate


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

  • Line-by-line exploration of Part V's regulatory laundry-list of additional tax compliance points the exempt sector is responsible for outside of maintaining exemption
  • Substantive background on the underlying line-specific tax issues relating to four key lines: 
  1. How the presence of a common paymaster alters the count of “number of employees” [and how the latter does or does not factor into the current mandatory e-filing rules for larger organizations] (Line 2)
  2. When a Form 990-T filing is required (Line 3a)
  3. The quid pro quo solicitation disclosure mandates (Line 7a/7b)
  4. Need to communicate with solicitations that the organization is not eligible to receive tax-deductible contributions (Line 6a/6b)
  • The multiple, often overlapping, disclosures or tax filings required when a filer receives large  tax-deductible contributions or certain types of property toward such contributions
  • Explanation of the basics behind the excise tax schemes applied to filers:
  1. holding "donor-advised funds" (Lines 8 and 9)
  2. subject to either of the two new excise tax schemes added by the Tax Cuts and Jobs Act
  • 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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