Information regarding IRS Form 990
IRS Form 990 Filing requirements:
An organization that normally has $50,000 in gross receipts and that is required to file an exempt organization information return must file either Form 990, Return of Organization Exempt from Income Tax, or Form 990-EZ, Short Form Return of Organization Exempt from Income Tax. The return is due on the 15th day of the 5th month after the end of the organization's fiscal year. The due date may be extended for three months, without showing cause, by filing Form 8868 before the due date; an additional three-month extension may be requested on Form 8868 if the organization shows reasonable cause why the return cannot be filed by the extended due date.
Small organizations – Most small tax-exempt organizations whose gross receipts are normally $50,000 must file Form 990-N, Electronic Notice (e-Postcard) for Tax-Exempt Organizations not Required To File Form 990 or 990-EZ. Before this law was enacted, these small organizations were not required to file annually with the IRS.
Filing requirements for years ending 12/31/2010 and later:
- Gross receipts normally ≤ $50,000 [Form 990-N e-Postcard]
- Gross receipts < $200,000, and Total assets < $500,000 [Form 990-EZ]
- Gross receipts ≥ $200,000, or Total assets ≥ $500,000 [Form 990]