Our offices will be closed Monday, May 28th, in observance of Memorial Day. Technical Support will be available via email at ​kfeducation@kaplan.com during business hours. We look forward to serving you when we return Tuesday, May 29th. 

Kaplan University School of Professional and Continuing Education Kaplan University School of Professional and Continuing Education

Tax Exempt Organizations: Basic Issues for Operating, Organizing, and Preparing Forms (TEOB)

8-Hour Program

WHY ATTEND THIS COURSE?

For tax exempt organizations, it is not about calculating income tax. It is about showing to the IRS at inception and annually that the organization is entitled to be classified as a tax exempt organization because of its purpose as reflected in its management and activities. Exempt organizations have unique tax rules and special forms. The IRS is especially sensitive to abuses of exempt status. From fundamentals needed to obtain exemption and to prepare Form 990, this program teaches what the informed CPA in public practice and inside a tax-exempt organization must know.

DESIGNED FOR...

CPAs having any involvement with tax-exempt organizations and preparation of Forms 1023, 1023-EZ, 1024, 990, 990-EZ, and 990-N. May also be suitable for public practice.

OBJECTIVE

Participants will be able to:

  • Understand special filing requirements of exempt entities
  • Distinguish between charitable and other not-for-profit entities
  • Recognize unrelated business income
  • Prepare Form 1023, 1023-EZ, or 1024 and related schedules
  • Prepare Form 990, 990-EZ, and 990-N and related schedules
  • Be aware of traps and pitfalls that can lead to penalties or loss of exempt status

MAJOR SUBJECTS

  • What is an exempt organization?
  • The importance of knowing the organization’s purpose
  • Special status of charitable organizations
  • When and how to apply for exempt status
  • Notice requirement for new 501(c)(4) organizations
  • Which organizations are required to file a Form 990?
  • Unrelated business taxable income—the fundamentals
  • Statutory exclusions under IRC Secs 512, 513, and 514
  • In-depth analysis of Form 990, Form 990-EZ, and 990-N, and public disclosure requirements
  • Fund raising disclosure requirements of non-charitable exempt organizations
  • IRS’ expectation for management of the organization
  • Introductions to private inurement and intermediate sanctions

COURSE ACRONYM: TEOB

PRESENTATION METHOD: Group-live

LEVEL OF KNOWLEDGE: Basic

PREREQUISITES:

  • None

ADVANCE PREPARATION: None

FIELD OF STUDY: Taxes/Tax-Exempt Organizations

RECOMMENDED CPE CREDIT: 8 hours


CPE Sponsor icon

SmartPros®, a Kaplan company and Loscalzo Institute, A Kaplan Company are registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.