In This Section:

Current News • News Archive • Search News Database

The Internal Revenue Service (IRS) issued its final draft of the Form 990 on December 20, 2007. The new form, which will need to be used beginning with the 2008 tax year (returns filed in 2009), includes a number of changes recommended by ASAE and many other tax-exempt organizations last summer.  

To download the final Form 990, click here: http://www.irs.gov/charities/article/0,,id=176613,00.html.

The final form retains the redesigned draft's format of a core form with summary page and a series of schedules. However, the IRS has made a number of changes in content and design that ASAE views as positive. Yet, there were some changes advocated by ASAE and other organizations that were rejected by the IRS, and ASAE believes the compensation section of the final form could prove onerous for some filing organizations. The requirement to disclose the five highest compensated employees (making more than $100,000) is new for 501 (c)(6) organizations and one that ASAE felt was unnecessary.

For more information on the IRS Form 990, please visit www.asaecenter.org/newsroom.

Member Login