Get the free 990-EZ Short Form Return of Organization Exempt From

22451 11/17/2015 3:04 PM Short Form Return of Organization Exempt From Income Tax 990EZ Form OMB No. 15451150 2014 Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except private

How to fill out 990-ez short form return

How to fill out 990-ez short form return:

1. Gather all necessary information: Before starting the form, gather all the required information, such as your organization's financial records, revenue and expense details, and other relevant documents.
2. Begin with the basic information: Start by providing the organization's name, address, and EIN (Employer Identification Number) at the top of the form.
3. Complete Part I: In Part I of the form, you need to provide general information about your organization, including its mission statement, tax-exempt status, and details about any changes throughout the year.
4. Proceed to Part II: In this section, you will report your organization's revenue and expenses. You'll need to provide details about different sources of income, such as contributions, grants, program service revenue, and investment income. Additionally, you'll have to list your organization's various expenses, such as salaries, rent, and other operating expenses.
5. Move on to Part III: Part III focuses on your organization's statement of program service accomplishments. Here, you'll need to describe your organization's mission and how you achieved it during the year. Include details about the programs or services offered and their impact.
6. Continue with Part IV: Part IV requires information about your organization's facilities and other assets. You'll need to provide details on whether your organization owns or rents property, its fair market value, any mortgages or other liabilities, and other related information.
7. Complete Part V: In this section, you'll answer a series of questions related to certain specific activities your organization might be engaged in. These questions relate to lobbying activities, political campaign intervention, and more. Answer accurately based on your organization's operations.
8. Review and finalize the form: After completing all the required sections, carefully review the form for any errors or omissions. Ensure that you've signed and dated the form appropriately.
9. Submitting the form: Once you have reviewed and finalized the form, you can submit it to the IRS either electronically or via mail, depending on your preference and the IRS guidelines.

Who needs 990-ez short form return?

1. Nonprofit organizations: The 990-ez short form return is specifically designed for small to medium-sized nonprofit organizations that meet certain financial thresholds. If your organization's annual gross receipts are below $200,000 or your total assets are below $500,000, you may be eligible to use this form instead of the full 990.
2. 501(c)(3) organizations: The 990-ez short form return is commonly used by 501(c)(3) organizations, which include charities, educational institutions, religious organizations, and other nonprofit entities that fall under this specific tax-exempt category.
3. Organizations opting for a simpler process: The 990-ez short form return is a more streamlined version compared to the full 990 form, making it a popular choice for organizations seeking a simpler reporting process while still meeting their federal tax obligations. However, it is important to ensure that your organization meets the eligibility criteria before using this form.

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What is 990-ez short form return?

990-ez short form return is the simplified version of Form 990 that certain tax-exempt organizations can use to report their financial information to the IRS.

Who is required to file 990-ez short form return?

Organizations with gross receipts less than $200,000 and total assets less than $500,000 at the end of the tax year are required to file 990-ez short form return.

How to fill out 990-ez short form return?

Organizations can fill out 990-ez short form return by providing information about their finances, activities, and governance following the instructions provided by the IRS.

What is the purpose of 990-ez short form return?

The purpose of 990-ez short form return is to give the IRS and the public an overview of an organization's financial health, activities, and governance.

What information must be reported on 990-ez short form return?

Information such as revenue, expenses, assets, liabilities, program activities, governance, and more must be reported on 990-ez short form return.