Form 990 schedule, instructions for 2013 - Schedule B 

October 24:  The IRS posted the final version of the Form 990-series Schedule B, Schedule of Contributors, and instructions for for tax years beginning in 2013.

The Schedule B and instructions do not contain any significant changes from the 2012 instructions.

KPMG observation

The draft 2013 Form 990 instructions proposed changing the requirements when an organization may exclude from reporting on Schedule B those contributors that fall below the greater-than-$5,000 / 2% threshold. However, no corresponding change appears in Schedule B or its instructions.


Read TaxNewsFlash-Exempt Organizations: Draft 2013 Form 990 Instructions clarify Schedule B reporting

.

Until the IRS releases final 2013 Form 990 instructions, it is unclear whether this change will be adopted.


A reference to a Form 990 webpage on the IRS website has been added.

KPMG observation

KPMG tax professionals have annotated a version of the new schedule and instructions—with new language noted with “yellow” highlights: Schedule B Instructions


Read TaxNewsFlash-Exempt Organizations: Form 990 schedules – 2013 Schedule C instructions for a recent discussion of other final 2013 Form 990-series schedules and instructions.



For more information, contact:


Rick Speizman, Partner-in-Charge of KPMG's Washington National Tax Exempt Organizations Tax group

+1 (202) 533-3084




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