Trade associations may have to answer more questions from the IRS about top executive pay and governance issues when filing taxes in the future. The IRS has created a new, longer and more comprehensive draft of the Form 990, the tax document used by nonprofit charities, foundations and trade associations. The latest version of the tax forms may require trade associations to list the compensation of the five highest paid employees and loans they owe to the organization. The form also requests the compensation of independent contractors that were paid more than $100,000 and addresses the oversight and auditing process in tax-exempt organizations. New questions proposed for… Read More