Many groups still question “key employees” definition On June 1, the IRS closed the nearly two-month comment period for the draft instructions that will accompany the new Form 990. This is the second phase for the completely revamped form, which is a publicly available tax document that reports the income, spending and salaries of nonprofits. The IRS released the final form Dec. 19, 2007, after a heated three-month comment period. On April 9, draft instructions were released. These set definitions and provide guidance on completing the form. The IRS received far fewer comments than for the actual form revision last year. As of May 18, only 33 comments were available on the… Read More