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UC Offers Special Topics Seminar for Accountants

Important Information About Form 990

Written By Gino Geruntino '10, PR Intern

Contact - cleogrande@utica.edu

Utica, NY (11/10/2008) - Utica College, in partnership with The Community Foundation of Herkimer and Oneida Counties, Inc., will offer two special seminars for accountants on IRS Form 990. This year, the workshops provide professional education for accountants on the intricacies of the 990 and 990-EZ tax forms, meant for non-profit businesses.

The first seminar, “990s DO Matter,” provides an easy understanding of the important functions and implications of 990 reporting. It will be held on Thursday, Nov. 13, from 1-5 p.m. at the Radisson Hotel in Utica. Those encouraged to attend are CFO’s, executive directors, CPAs, accountants, preparers, and accounting staff involved in the accounting process and would like to know more.

Other topics included in this seminar are examining the key components in the forms that give the public valuable information about a company, the challenges that non-profit companies deal with while completing the form, and the many ways that the IRS has enhanced parts of the form and answers questions regarding it.

The second workshop, “Redesigned Form 990” goes in-depth into the new form, and its shift towards details and recordkeeping, instead of tax law enunciation. This seminar will be held on Friday, Nov. 14, 8:30 a.m. - 4:45 p.m. at the Radisson Hotel in Utica. This “part-by-part” class will go through the entire form, focusing on each part individually. Those encouraged to attend this course are CPAs, accountants, preparers, and accounting staff.

Additional topics presented in the second course include the changes to the public support test reporting and qualifications, how to handle the disclosures that may be required or permitted on an overflow schedule, and the methods involved in the new schedule L- “Transactions with Interested Persons” reporting. There will also be a portion dedicated to the new schedules for non-cash contributions, fundraising, political/lobbying, among others.

Eve Borenstein, a practicing attorney and partner of Borenstein and McVeigh Law Offices, LLC, in Minneapolis, teaches the courses. She has been involved with the IRS since 2007 helping to redesign the 990 Form, and is a co-chair on the American Bar Association’s Tax Section, with the Form 990 Task Force.

Both of the workshops offered will offer continuing profession education credits (CPEs) for all CPAs and accountants. “990’s DO Matter” will award four credits, while “Redesigned Form 990” will offer eight credits, both given upon completion of the respective course.

For more information, contact Utica College’s Office of Corporate and Professional Programs at 792-3344.



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