CAN's finance and accounting programs are designed to to measurably improve the accuracy, consistency and clarity of financial reporting, thus reducing time and financial costs and improving accountability and public trust in California's nonprofit sector.

Another goal of this program is to promote a dialog and create a community of nonprofit finance professionals so please post questions and comments!

Thursday, December 13, 2007

IRS 2008 Implementation Guidelines

The IRS has just released a PDF of its FY 2008 Implementation Guidelines. It contains the program guidance for implementing the Exempt Organizations portion the IRS's Strategic and Program Plan for the coming fiscal year.

Among the highlights:

  1. Details of the updated form 990 will not be released until the first quarter of 2008 rather than the end of 2007 as previously reported by the IRS.
  2. More attention to executive compensation.
  3. Further looking into charitable trusts.
Download a copy to find out what the IRS has in store for us in 2008, I'll also try to keep updates here as soon as they happen.

Posted by CAN at 11:20 AM

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