Get the free Forms 990 I 990-EZ Return Summary - CDAC - Community Drug ...

28 Oct 2016 ... Failure to file penalty. Excess / (deficit). Balance Sheet. Beginning. Ending. Assets. Liabilities. Net assets. , and ending. Forms 990 / 990EZ Return Summary. Total revenue. Expenses.

How to fill out forms 990 i 990-ez

How to fill out forms 990 i 990-ez:

1. Gather all necessary information: Before you begin filling out forms 990 i 990-ez, make sure you have all the required information such as the organization's name, address, taxpayer identification number, financial data, and programmatic activities.
2. Understand the form instructions: Read the instructions provided with the forms 990 i 990-ez carefully to ensure you understand the requirements and can accurately complete the forms. The instructions provide detailed explanations for each section of the form.
3. Start with basic information: Begin by entering the basic information of your organization, including its name, address, and taxpayer identification number. Double-check the accuracy of this information to avoid any errors.
4. Provide financial data: Forms 990 i 990-ez require detailed financial information about your organization, including revenue, expenses, assets, and liabilities. Take your time to accurately report these figures and ensure all calculations are correct.
5. Report programmatic activities: These forms also require information about the organization's programmatic activities, including the nature of the activities, beneficiaries, and accomplishments. Clearly describe the organization's mission and the impact of its programs.
6. Attach any required schedules: Depending on your organization's activities, you may need to attach additional schedules to the forms 990 i 990-ez. These schedules provide more detailed information about specific aspects of your organization's operations, such as fundraising, grants, or foreign activities. Ensure you complete and attach the necessary schedules.
7. Review and double-check: Once you have completed filling out the forms 990 i 990-ez, carefully review every section to ensure accuracy and completeness. Double-check all calculations and verify that you have provided all the required information.

Who needs forms 990 i 990-ez:

1. Nonprofit organizations: Nonprofit organizations, including charitable, religious, educational, scientific, and other tax-exempt organizations recognized under IRS regulations, may need to file forms 990 i 990-ez. These forms provide detailed financial and programmatic information about the organization's activities.
2. Small tax-exempt organizations: Small tax-exempt organizations with annual gross receipts below a certain threshold ($50,000 for forms 990-ez) may be eligible to file a simplified version of the form, known as the form 990-ez. This allows them to provide less detailed information compared to the full form 990.
3. Organizations required by law: Some states may have laws requiring certain organizations, regardless of their tax-exempt status or annual revenue, to file forms similar to forms 990 i 990-ez. It is important to consult with both federal and state regulations to determine the filing requirements for your specific organization.

Note: It is always advisable to consult with a tax professional or seek legal advice to ensure compliance with all applicable regulations and to address any specific concerns or unique circumstances related to your organization's filing of forms 990 i 990-ez.

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What is forms 990 i 990-ez?

Forms 990 and 990-ez are tax forms used by tax-exempt organizations to report their financial information and activities to the IRS.

Who is required to file forms 990 i 990-ez?

Most tax-exempt organizations are required to file either Form 990 or Form 990-ez, depending on their gross receipts and total assets.

How to fill out forms 990 i 990-ez?

Forms 990 and 990-ez can be filled out either electronically using IRS e-file system or by paper and mail.

What is the purpose of forms 990 i 990-ez?

The purpose of forms 990 and 990-ez is to provide transparency and accountability to the public regarding the finances and activities of tax-exempt organizations.

What information must be reported on forms 990 i 990-ez?

Tax-exempt organizations must report information such as revenue, expenses, assets, liabilities, activities, and governance on forms 990 and 990-ez.

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