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IRS Corrects, Clarifies Instructions
For 2006 Version of Form 990
There is no limit on the look back period
for reporting compensation to former officers or directors
The Internal Revenue Service has issued a series of questions and answers attempting to correct and clarify the questions and instructions for the 2006 version of the Form 990 tax information return for exempt organizations.
Many new questions were added as the result of the Pension Protection Act passed last August (See Ready Reference Page: “Congress Passes Charity Reforms.”), and many of the questions were added, by IRS time, quickly. As a result, some of the information included confusing typos, conflicting instructions, and incomplete information.
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