Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
IRS consolidates resources for Form 990
WASHINGTON (12/30/08)—The Internal Revenue Service (IRS) has put together several resources on the changes to Form 990 and instructions for 2009, including frequently asked questions (FAQs). This summer, the IRS released revised instructions that will be needed by tax-exempt organizations to fill out the tax agency's redesigned Form 990. The new IRS form, Return of Organization Exempt from Income Tax, is effective for the 2008 tax year, for returns filed in 2009. State-chartered credit unions are required to file Form 990 with the IRS annually, although a few states still permit group 990 filings. Federal credit unions are not required to file, since they are not subject to unrelated business income taxes. Among the online informational resources are a page with seven categories of FAQs just for exempt organizations and a “Tax-Exempt Organizations Tax Kit.” The Credit Union National Association in November added an archived version of its "New 990 Reporting Rules" webinar to its website. It is available through May 11. The webinar, among other topics, shared preparation tips, such as the fact that there will be transition relief available for smaller organizations using a phase-in requirement for filing the new form over a three year period. To access the help-tips straight from the IRS, as well as the CUNA webinar, use the resource link below.
Other Resources

RSS





print
News Now LiveWire
.@CUNA says new House bill is "further evidence" of lawmakers' interest in how @TheNCUA uses its funds from CUs. See News Now Monday.
18 hours ago
.@MECreditUnions announces winner of @YoungFreeME #SoundOff contest. @Sassquatch_Band will play Old Port Festival in June @PDD_Downtown
1 day ago
House Financial Services Com. to hold March 3 hearing to receive the semi-annual report of @CFPB Director Richard Cordray.
1 day ago
Rep. Jeff Miller (R-Fla.) re-introduced bill to ease veterans' access to loans for #smallbusiness purposes from a #creditunion (HR 1133)
1 day ago
You can get your subscription to @cuna 's free, daily, online #creditunion #news service News Now here: http://t.co/YtUejEmAYP
1 day ago