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Focusing on the unique legal challenges of credit unions. Spring 2008 The New Form 990 for 2008: Prepare Now, File Later By Arthur T. Phillips On December 20, 2007, the Internal Revenue Service (IRS)

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What is the new form 990?

The new Form 990 is an updated version of the Internal Revenue Service (IRS) tax form used by tax-exempt organizations to report their financial information.

Who is required to file the new form 990?

Certain tax-exempt organizations, including charitable and nonprofit organizations, are required to file the new form 990 with the IRS.

How to fill out the new form 990?

The new Form 990 can be filled out online or by using paper forms provided by the IRS. It requires organizations to provide information about their finances, governance, activities, and compliance with tax regulations.

What is the purpose of the new form 990?

The purpose of the new form 990 is to provide the IRS and the public with information about a tax-exempt organization's finances, activities, and compliance. It helps ensure transparency and accountability for these organizations.

What information must be reported on the new form 990?

The new form 990 requires organizations to report details about their revenue, expenses, assets, liabilities, governance structure, programs, fundraising activities, and compliance with tax regulations.

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