4958-6 c For Paperwork Reduction Act Notice see the Instructions for Form 990. Cat. No. 50053T Schedule J Form 990 2017 Page Officers Directors Trustees Key Employees and Highest Compensated Employees. SCHEDULE J Form 990 Department of the Treasury Internal Revenue Service Name of the organization Part I Compensation Information OMB No* 1545-0047 For certain Officers Directors Trustees Key Employees and Highest Compensated Employees Complete if the organization answered Yes on Form 990 Part IV...line 23. Attach to Form 990. Go to www*irs*gov/Form990 for instructions and the latest information* Open to Public Inspection Employer identification number Questions Regarding Compensation Yes 1a Check the appropriate box es if the organization provided any of the following to or for a person listed on Form 990 Part VII Section A line 1a* Complete Part III to provide any relevant information regarding these items. First-class or charter travel Travel for companions Tax indemnification and...gross-up payments Discretionary spending account Housing allowance or residence for personal use Payments for business use of personal residence Health or social club dues or initiation fees Personal services such as maid chauffeur chef b If any of the boxes on line 1a are checked did the organization follow a written policy regarding payment or reimbursement or provision of all of the expenses described above If No complete Part III to explain. Did the organization require substantiation prior...to reimbursing or allowing expenses incurred by all directors trustees and officers including the CEO/Executive Director regarding the items checked on line 1a. No 1b Indicate which if any of the following the filing organization used to establish the compensation of the organization s CEO/Executive Director. Check all that apply. Do not check any boxes for methods used by a related organization to establish compensation of the CEO/Executive Director but explain in Part III. Compensation...committee Independent compensation consultant Form 990 of other organizations Written employment contract Compensation survey or study Approval by the board or compensation committee During the year did any person listed on Form 990 Part VII Section A line 1a with respect to the filing organization or a related organization a Receive a severance payment or change-of-control payment. b Participate in or receive payment from a supplemental nonqualified retirement plan. If Yes to any of lines 4a c...list the persons and provide the applicable amounts for each item in Part III. 4a 4b 4c Only section 501 c 3 501 c 4 and 501 c 29 organizations must complete lines 5 9. For persons listed on Form 990 Part VII Section A line 1a did the organization pay or accrue any a The organization. b Any related organization. If Yes on line 5a or 5b describe in Part III. 5a 5b 6a 6b payments not described on lines 5 and 6 If Yes describe in Part III. Were any amounts reported on Form 990 Part VII paid or...accrued pursuant to a contract that was subject to the initial contract exception described in Regulations section 53.
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Instructions and Help about IRS 990 - Schedule J
How to edit IRS 990 - Schedule J
How to fill out IRS 990 - Schedule J
Instructions and Help about IRS 990 - Schedule J
How to edit IRS 990 - Schedule J
To edit the IRS 990 - Schedule J, you can download a blank copy from the IRS website. Use pdfFiller’s editing tools to add your information electronically. Ensure that all fields are completed accurately. Save the document to preserve your changes before submitting it.
How to fill out IRS 990 - Schedule J
Filling out the IRS 990 - Schedule J requires specific steps to ensure accurate reporting of compensation information for key employees. Begin by gathering necessary documents that support the amounts reported on this form. Follow these steps:
01
Identify the organization and populate general information at the top of the form.
02
List the names of the highest-paid employees in the required section.
03
Detail the compensation and benefits received by each individual, ensuring that it corresponds with your organization’s records.
About IRS 990 - Schedule J 2020 previous version
What is IRS 990 - Schedule J?
IRS 990 - Schedule J is a supplemental form used by tax-exempt organizations to report compensation paid to their highest-paid employees, contractors, and highest-paid individuals. This form is filed alongside the IRS Form 990, which provides an overview of an organization's financial information. Schedule J is critical for maintaining transparency around the compensation practices of nonprofit organizations.
When am I exempt from filling out this form?
Organizations may be exempt from filing IRS 990 - Schedule J if they do not pay any employee more than $100,000 in compensation. Additionally, certain types of organizations, such as religious institutions or small tax-exempt organizations, may qualify for exemptions based on their size and operational structure. However, it is advisable to verify any exemptions with the IRS or a tax professional.
What information do you need when you file the form?
When filing IRS 990 - Schedule J, gather the following information:
01
Names and titles of the highest-paid employees and contractors.
02
Annual salaries, bonuses, and other forms of compensation.
03
Details regarding any benefits, retirement contributions, and non-cash compensation.
04
Documentation supporting the amounts reported.
Is the form accompanied by other forms?
IRS 990 - Schedule J is typically filed in conjunction with IRS Form 990, which serves as the main reporting document for tax-exempt organizations. Some forms or documents may need to accompany it, depending on the specific circumstances of the organization.
What is the purpose of this form?
The primary purpose of IRS 990 - Schedule J is to provide detailed information regarding compensation for key employees. This includes salaries, bonuses, and other forms of compensation. By reporting this information, organizations demonstrate that they adhere to IRS regulations, ensuring that compensation is reasonable and justified based on industry standards.
Who needs the form?
Organizations must file IRS 990 - Schedule J if they pay over a specified threshold to their highest-paid employees. Typically, this applies to tax-exempt organizations, including charities, foundations, and nonprofit entities. If compensation exceeds $100,000, the organization is required to disclose this information on the form.
Components of the form
The components of IRS 990 - Schedule J include sections that require the listing of key employees, their compensation details, and any related benefits. Each section is designed to collect relevant information to gauge the compensation levels in relation to the organization’s overall financial health.
What are the penalties for not issuing the form?
Failing to issue IRS 990 - Schedule J when required can result in penalties, including fines and further scrutiny from the IRS. Organizations may face penalties starting at $20 per day, with a maximum penalty that can accumulate based on the severity of the non-compliance. It is essential for organizations to ensure timely and accurate filing to avoid such repercussions.
Where do I send the form?
The completed IRS 990 - Schedule J should be submitted to the address indicated in the IRS instructions for Form 990. This is generally the address associated with the organization’s primary IRS service center, and organizations should be aware of deadlines to avoid penalties.
FAQ about IRS 990 - Schedule J
What should I do if I need to correct a mistake on my IRS J form?
If you need to correct an error on your IRS J form after filing, you should file an amended return. This involves completing a new form and indicating that it is a corrected submission. Be sure to clearly outline the changes and keep a copy of the correction for your records.
How can I check the status of my IRS J form submission?
To verify the status of your IRS J form, you can use the IRS online tools or contact their office directly. Keep track of any confirmation numbers or tracking details you receive upon submission, as these will help in checking the processing status of your form.
What should I do if my IRS J e-filing is rejected?
In case your IRS J e-filing is rejected, review the rejection notice for specific error codes. Correct the issues indicated and resubmit your form. Ensure your software used for e-filing is compatible and up to date to minimize potential errors.
Are there e-signature requirements for the IRS J form?
The IRS J form can accept electronic signatures as long as they meet IRS specifications. Ensure you are familiar with the requirements for e-signatures to avoid delays in processing. Always check the latest guidelines since these requirements can change.
What should I do if I receive a notice regarding my IRS J form?
If you receive a notice about your IRS J form, carefully read the communication for instructions on how to respond. It may require additional documentation or clarification. Prepare all necessary documents and respond promptly to avoid further complications.
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