Form 990 Filing Tips |
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The IRS is providing a series of filing tips to help tax-exempt organizations and tax practitioners as they prepare to file the redesigned 2008 Form 990. The latest tip explains how to report executive compensation.
The 2008 Form 990 requires reporting of executive compensation by all organizations that file the form. This reporting, contained in Part VII of the core form and Schedule J (required for some organizations), changed significantly from 2007 and prior years. Beginning with 2008 tax years, organizations must report certain compensation information based on amounts reported on Form W-2 (for employees) or Form 1099-MISC (for non-employees). In addition, definitions of persons required to be listed as officers, directors, trustees, key employees, and the five highest compensated employees, changed from prior years.
Part VII of the core form requires summary information regarding compensation paid to certain persons by the filing organization and related organizations. It must be completed by all organizations that file a Form 990. In addition, organizations that pay compensation amounts that exceed certain levels must complete Schedule J. Schedule J requires detailed reporting of an organization’s compensation practices and types of compensation paid to certain persons.
The following tips and FAQs relate to core form Part VII and Schedule J executive compensation reporting on the 2008 Form 990.
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- Reporting Certain Deferrals of Compensation
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NOTE: If you have additional questions or comments regarding this topic, you may contact us. Although we will not respond to every request we receive, we may use your comments and questions to provide additional tips and frequently asked questions.
Additional information
Form 990 Filing Tips Archive
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Page Last Reviewed or Updated: May 04, 2009