Tax Changes for Nonprofits
What the 2021 Form 990/990-PF/990-T changes could mean for you
The 2021 form 990 has various minor changes to both the form and instructions. Listed below are some of the key changes you should be aware of this filing season:
- Section 501(c)(21) Black Lung Trusts are required to file form 990/990EZ or 990-N. Form 990-BL is no longer available for 2021.
- Part V Line 17 question was added specific to Black Lung Trusts. Has the Trust or any Disqualified Person engaged in any activity giving rise to the excise taxes under Section 4951 – Self Dealing; Section 4952 – Taxable Expenditures or Section 4953 – Excess Contributions?
- Part VII Section A – Clarification of Officers, Directors, Trustees, Key Employees and HCE ordering rules. The instructions now consistently require reporting such person from the highest compensation to the lowest.
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