How can I loose my 501(c)(3) Status?
If Your organization fails to file required annual 990 series forms, your organization’s tax-exempt status will be revoked automatically by the IRS. Moreover, Your State tax exemption and Solicitation registration may be revoked!
What forms are required to file Annually with the IRS?
The following Forms are required to be filed Annually.
Form 990-N
Small tax-exempt organizations generally are eligible to file Form 990-N to satisfy their annual reporting requirement if their annual gross receipts are normally $50,000 or less.
However, some organizations aren’t eligible to use Form 990-N (e-Postcard) even if their gross receipts are normally $50,000 or less. These organizations must file different forms instead to satisfy their annual reporting requirement.
Form 990 EZ
If an organization has gross receipts less than $200,000 and total assets at the end of the year less than $500,000, it can file Form 990-EZ, instead of Form 990.
Form 990
An organization must file Form 990, if it is: An organization with either: gross receipts of $200,000 or more, or total assets of $500,000 or more.
When do I have to File Form 990 Returns
An annual information return or notice is due by the 15th day of the fifth month following the end of an organization’s tax year. For example, an organization with a tax year ending on December 31 must file its return or notice on or before May 15. An organization may request an automatic six-month extension of time to file Form 990, Form 990-EZ, Form 990-PF or Form 990-BL. Use Form 8868, Application for Automatic Extension of Time to File an Exempt Organization Return, to request extensions. An organization’s obligation to file a return or notice begins when it is legally formed. Before an organization submits its application for tax-exempt status or while the application is pending with the IRS, it must file a required return or notice by the filing due date.
Form 990
Form 990 is required for an organization with either: gross receipts of $200,000 or more, or total assets of $500,000 or more.
- Consultation
- Checklist of the necessary information for filing Form 990EZ
- IRS Inquires
Who is required to file form 990?
Form 990
An organization must file Form 990, if it is: An organization with either: gross receipts of $200,000 or more, or total assets of $500,000 or more.
When is the form 990 due?
Form 990 is due by the 15th day of the fifth month following the end of an organization’s tax year. For example, an organization with a tax year ending on December 31 must file its return or notice on or before May 15. An organization may request an automatic six-month extension of time to file Form 990.
Use Form 8868, Application for Automatic Extension of Time to File an Exempt Organization Return, to request extensions. An organization’s obligation to file a return or notice begins when it is legally formed. Before an organization submits its application for tax-exempt status or while the application is pending with the IRS, it must file a required return or notice by the filing due date.