• IRS Releases Draft of Core Form 990 for 2010
  • November 4, 2010 | Authors: Diara M. Holmes; David A. Lawson; Sharon W. Nokes
  • Law Firm: Caplin & Drysdale, Chartered - Washington Office
  • On October 14, the IRS issued, without comment, a draft of the 2010 “core” Form 990, the annual information return required from tax-exempt organizations with gross receipts over $500,000 or total assets over $1.25 million. The IRS has not yet released drafts of any schedules to the 2010 Form 990. After extensively revising Form 990 in 2008, the IRS made only minor changes for 2009, and appears to be on the same course for 2010. The vast majority of this year’s changes are minor clarifications and technical corrections. The few substantive changes, summarized below, stem primarily from the Patient Protection and Affordable Care Act of 2010 (“PPACA”).