The Internal Revenue Service has released its revised instructions for the redesigned Form 990 that tax-exempt organizations must submit.
The latest version reflects a greater level of detailed reporting than the IRS has been requesting. Some organizations, such as the National Football League, have balked at the increased level of reporting on compensation, which requires them to report the salaries of executives earning more than $150,000 (see NFL Requests Exception to Tax Disclosures). The IRS received comments and requests for changes in a draft version of the instructions from a number of organizations, including the American Institute of CPAs (see AICPA Suggests Changes to Tax-Exempt Form Instructions).
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