Annual filing for tax exempt organizations, an Overview

Annual Filing For Tax-Exempt

Organizations, An OVERVIEW

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OVERVIEW

Introduction

Federal Filing Requirements

Filing Deadline

Automatic Revocation

Exempt Organization Extension



INTRODUCTION ABOUT TAX-EXEMPT ORGANIZATIONS RETURN

The Form 990, and its subsequent smaller forms, is for the annual reporting of income, assets, liabilities, events, and other important information about the tax-exempt organization to the IRS.


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FEDERAL FILING REQUIREMENTS

All tax-exempt organizations required to file an annual report to the IRS must do so using one of the several Forms 990.


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The smallest of tax-exempt organizations, those grossing under $50,000 in receipts, are allowed to E-file the 990-N e-Postcard.

FORM 990-N


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The largest of these, Form 990, is for any tax-exempt organization but is most commonly filed by those organizations with over $200,000 in gross receipts and over $500,000 in total assets.

FORM 990


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Form 990-EZ is available for those organizations which have gross receipts over $50,000 but under $200,000 and under $500,000 in total assets.

FORM 990-EZ


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Form 990-PF is for the annual return of private foundations or Section 4947(a)(1) non-exempt charitable trusts treated as private foundations.

FORM 990-PF


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Form 990-T is for tax-exempt organizations to report their business income tax annual return.

FORM 990-T


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The filing deadline for tax-exempt organizations is always the 15th day of the 5th month after the end of the organization's fiscal period. For calendar year filers, this would place the deadline on May 15th.

DEADLINE FOR FILING EXEMPT ORGANIZATIONS




Should a tax-exempt organization fail to file for three (3) consecutive years, the IRS automatically revokes its tax-exempt status. In order to regain its status, the organization will need to contact the IRS and re-apply.

AUTOMATIC REVOCATION OF TAX-EXEMPT STATUS




Tax-exempt organization need additional time to file, it may file Form 8868, which is an extension of time to file Forms 990.

EXTENSION OF TIME TO FILE AN EXEMPT ORGANIZATION RETURN


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EXTENSION OF TIME TO FILE AN EXEMPT ORGANIZATION RETURN

It allows for an automatic three (3) month extension of time to file and, should additional time be necessary, a second filing of Form 8868 allows for another non-automatic three (3) month extension.




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Annual filing for tax exempt organizations, an Overview

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