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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How to fill out IRS 990 - Schedule J
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How to edit IRS 990 - Schedule J
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How to fill out IRS 990 - Schedule J
To fill out IRS 990 - Schedule J, follow these steps:
01
Download the latest version of the form from the IRS website or a reliable source.
02
Provide the organization’s name, Employer Identification Number (EIN), and the tax year on the first page.
03
Complete the compensation tables with accurate figures for officers, directors, trustees, and highest-paid employees.
04
Ensure you include any relevant notes and descriptions in the appropriate sections.
About IRS 990 - Schedule J 2021 previous version
What is IRS 990 - Schedule J?
IRS 990 - Schedule J is an attachment used by exempt organizations to report compensation information for their highest-paid employees and board members. This schedule is a critical part of the larger IRS Form 990, which provides the IRS with crucial information about the financial activities and governance of tax-exempt organizations.
When am I exempt from filling out this form?
Organizations are exempt from filling out IRS 990 - Schedule J if they do not pay any compensation to the individuals specified or if their total revenue falls below the threshold requiring Form 990 filing. Additionally, smaller organizations filing Form 990-N (e-Postcard) are not required to complete this schedule.
What are the penalties for not issuing the form?
Failing to file IRS 990 - Schedule J or submitting inaccurate information can result in significant penalties. Organizations may face fines and could jeopardize their tax-exempt status if they consistently fail to comply with IRS regulations. Accurate reporting helps maintain the credibility and integrity of the organization.
Is the form accompanied by other forms?
Yes, IRS 990 - Schedule J is generally filed as an attachment to the main IRS Form 990. In some cases, it may be accompanied by additional schedules that provide further detail on the organization’s financial activities and governance structure.
What is the purpose of this form?
The primary purpose of IRS 990 - Schedule J is to promote transparency regarding compensation practices within nonprofit organizations. It helps the IRS and the public understand how much an organization compensates its top officials, thereby ensuring accountability and compliance with tax regulations.
Who needs the form?
Organizations exempt from federal income tax under Section 501(c) of the Internal Revenue Code that are required to file Form 990 need to complete Schedule J if they pay compensation to officers, directors, trustees, or the highest-paid employees. This includes most public charities and private foundations.
Components of the form
IRS 990 - Schedule J comprises several key sections, including the compensation tables, supplemental notes, and breakdowns of benefits and other reportable compensations. Each section must be completed accurately to reflect true compensation figures, which include salaries, bonuses, and other forms of remuneration.
What information do you need when you file the form?
When filing IRS 990 - Schedule J, you will need the following information:
01
The organization's name and EIN.
02
Details of compensation paid to each officer, director, trustee, or highest-paid employee.
03
Descriptions of the nature of the compensation, including salaries and bonuses.
Where do I send the form?
After completing IRS 990 - Schedule J, you must submit it along with Form 990 to the appropriate IRS service center. The mailing address depends on where your organization is located and whether you are filing by paper or electronically. Ensure you verify the correct submission address on the IRS website.
FAQ about IRS 990 - Schedule J
What should you do if you discover an error after filing the 990 schedule j?
If you find an error on your submitted 990 schedule j, you should file an amended form. This involves clearly marking it as an amended return and providing the corrected information. Make sure to address the specific errors to avoid further complications.
How can you verify the status of your 990 schedule j after submission?
To verify the status of your 990 schedule j, you can contact the IRS directly or use their online tools for tracking your submission. Be aware of common e-file rejection codes that may indicate issues.
What should you consider regarding data security when filing your 990 schedule j electronically?
When e-filing your 990 schedule j, ensure that you are using secure software that complies with IRS requirements. Additionally, maintain privacy by using encrypted connections and safeguarding any sensitive data during the filing process.
What common mistakes should be avoided when completing the 990 schedule j?
Common errors when completing the 990 schedule j include incorrect taxpayer identification numbers, mismatched financial figures, and failing to include necessary attachments. Double-check your entries to minimize these issues.
How should you respond if you receive an IRS notice regarding your 990 schedule j?
If you receive an IRS notice about your 990 schedule j, carefully review the content to understand the issue. Gather relevant documentation and respond promptly, providing any requested information to facilitate resolution.
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