The Internal Revenue Services has released its continuing professional education training (CPE) materials on governance. IRS Form 990, which tax-exempt organizations are required to file annually, is a major focus of the CPE materials.
According to the HFMA, the IRS has indicated that it does not plan to impose substantive regulations regarding governance issues, but will continue to focus on identifying guiding principles on governance practices for tax-exempt organizations.
The IRS plans to develop an examination checklist regarding various governance topics to explore possible links between governance and tax law compliance. The agency also intends to incorporate Form 990 questions and responses into future compliance initiatives.
You can find the CPE materials here.