Form 990 series and instructions for 2020

Form 990 series and instructions for 2020

The IRS posted a draft version of the instructions for Schedule L (Form 990 or 990-EZ), “Transactions With Interested Persons”—among the last of the 2020 Form 990 series returns, schedules, and instructions to be released in draft format.

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  • A list of draft Form 990 series returns, schedules, and instructions* for 2020 is available on the IRS website.
  • Certain of the Form 990 series returns, schedules, and instructions for 2020 have now been released in final form on the IRS website.

Read the draft Schedule L instructions [PDF 288 KB]. Schedule L is used by an organization that files Form 990 or 990-EZ to provide information on certain financial transactions or arrangements between the organization and disqualified person(s) (as defined under section 4958) or other interested persons. Schedule L is also used to determine whether a member of the organization's governing body is an independent member for purposes of Form 990, Part VI, line 1b.
 

*Draft forms and instructions are not to be relied upon for filing purposes and are subject to OMB approval (and possibly to change) before being officially released.  


For more information, contact a tax professional with KPMG’s Washington National Tax practice:

Ruth Madrigal | +1 202 533 8817 | ruthmadrigal@kpmg.com

Preston Quesenberry | +1 202 533 3985 | pquesenberry@kpmg.com

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