NOT2231. Form 990 Compensation Reporting

One of the most exploitative parts of the Form 990 is the compensation reporting on Parts VII and Schedule J. While the reporting rules were designed for transparency, no compensation structure is alike and there are many nuances to reporting wages and benefits on these forms. Additionally, excess compensation and parachute payment rules have added layers of complexity to the data reported in these sections. In this course, we'll dive into Part VII and Schedule J, and discuss the reporting rules relating to who is reported and when. We'll dive into the volunteer exception, management company reporting rules, and retirement benefit reporting.

Learning Objectives:

• Identify who is required to be reported on Part VII and Schedule J and how their compensation is reported on the return, touching on certain exceptions and outsourced management structures
• Determine the most commonly used deferred compensation plans and how and how these benefits are reported on the Form 990
• Analyze the reporting of compensation and parachute payments related to excess compensation taxes and reporting under IRC Section 4960