The 2019 Form 990, Return of Organization Exempt from Income Tax, and instructions contain the following notable changes:
The IRS continues to make (1) minor stylistic and substantive corrections, (2) updates to annual revenue procedure references and inflation-adjusted dollar amounts, and (3) useful cross-references to formal IRS guidance and information available on the IRS website.
Note: Below are links to our annotated version of the 2019 Form 990, including all schedules and instructions. The documents include PwC’s highlights of and comments on key changes for 2019. The documents are searchable and include bookmarks to assist with navigation.
The 2019 Form 990 contains several notable changes, including new e-filing requirements, updates to the triggering questions for Schedule L, changes in endowment asset characterization, new ordering for individuals reported on Part VII based on amount of compensation, and a new method for publicizing a school’s nondiscrimination policy. Failure to timely file a complete and accurate Form 990 may have adverse impacts, including penalties and loss of tax-exempt status. As a result, nonconforming or incomplete responses in Form 990 could result in additional IRS scrutiny.
Health Services Tax Leader, PwC US