IRS Issues Instructions for New Form 990
The IRS
released the revised instructions that tax-exempt organizations will need to fill out the redesigned Form 990, which must be filed starting with tax year 2008 (filed in 2009). Form 990 had previously not seen major revisions since 1979. The revised instructions feature several new tools that make it easier to answer questions line-by-line and that facilitate uniform reporting. Input from the tax-exempt community played a major role in how the new instructions were designed. The revised instructions and redesigned Form 990 can be found
here. Release of instructions to the 2008 Form 990-EZ, Short Form Return of Organization Exempt from Income Tax, is anticipated in the next few weeks.
