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IRS Plans to Update Forms for Tax-Exempt Organizations This Year

May 13, 2022, 5:01 PM

Revisions to tax-exempt organization Forms 990 and 990-PF are expected at the end of the year, a Treasury Department official said Friday.

The 990 form gives an overview of an exempt organization’s finances and activities over the past year. The 990-PF form is used to figure out tax liability based on investment income, as well as for reporting charitable distributions and activities.

  • “I haven’t heard at this time of any plans to completely overhaul anything the way they did in 2008 in the Form 990,” Amber MacKenzie, an attorney-adviser in Treasury’s Office of Tax Policy, said at a conference ...

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