Don Farmer's Tax-Exempt & International Forms

Overview

This intermediate-level course provides a focused review of federal reporting requirements for tax-exempt organizations and selected international information returns. Participants will examine key compliance components of Form 990, including governance disclosures and unrelated business income considerations, as well as commonly encountered international reporting forms such as Forms 5471, 8865, and 8938. The course emphasizes reporting mechanics, disclosure requirements, penalty exposure, and common filing errors. Practical examples highlight areas of heightened IRS scrutiny and documentation considerations.

Highlights

Overview of tax-exempt and international information reporting framework
Form 990 reporting fundamentals
Core form structure and required schedules
Governance and compensation disclosures
Unrelated business income (UBI) reporting considerations
Overview of selected international information returns
Form 5471 (controlled foreign corporations)
Form 8865 (foreign partnerships)
Form 8938 (specified foreign financial assets)
Filing thresholds, disclosure requirements, and penalty considerations
Common compliance risks and IRS examination focus areas

Prerequisites

None

Designed For

CPAs and tax professionals involved in the world of tax.

Objectives

Distinguish unrelated business income reporting considerations

Recognize filing triggers and reporting requirements for selected international information returns

Analyze common compliance risks and penalty exposures associated with tax-exempt and international forms