Get the free Short Form 990-EZ

990EZ Short Form Return of Organization Exempt From 1ncome Tax OMB No. 15451150 Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code 12 (except black lung benefit trust or private

How to fill out short form 990-ez

How to fill out short form 990-ez:

1. Gather all necessary information: Before starting to fill out the form, make sure you have all the required information at hand. This includes details about your organization, its activities, revenue, expenses, and any other relevant financial information.
2. Download the form: Visit the official IRS website or search online for the short form 990-ez. Download the form and save it to your computer for easy access.
3. Provide basic organization information: Start by entering your organization's name, address, employer identification number (EIN), and legal structure. Provide any additional requested information about the organization's formation and purpose.
4. Indicate accounting method used: Select the accounting method your organization uses (e.g., cash or accrual).
5. Complete Part I: In this section, you will answer various questions about your organization's revenue, expenses, and assets. Be sure to provide accurate and detailed information to the best of your knowledge.
6. Complete Part II: This section focuses on specific activities and programs conducted by your organization. You will need to provide details on these activities, such as the purpose, type, and amounts involved.
7. Complete Part III and Part IV: Part III is related to your organization's statement of program service accomplishments, and Part IV requires you to provide a description of your organization's activities and achievements during the year. Provide clear and concise answers for both sections.
8. Sign and date the form: After completing all the necessary sections, sign and date the form. If someone else is preparing the form on behalf of the organization, they should also sign and date it.
9. Attach any required schedules: Depending on your organization's activities and financial situation, you might need to attach additional schedules to the form. Review the instructions to determine if any schedules are applicable to your organization.

Who needs short form 990-ez:

1. Nonprofit organizations: The short form 990-ez is specifically designed for smaller nonprofit organizations, including 501(c)(3) charities, social clubs, and certain other tax-exempt organizations. If your organization's annual gross receipts are less than $200,000 and total assets are less than $500,000, you may be eligible to file the short form.
2. Organizations with simple financial situations: The short form is suitable for organizations with relatively straightforward financial situations. If your organization has more complex financial activities, such as significant investments, substantial revenue from unrelated businesses, or foreign activities, you may need to file the longer form 990 instead.
3. Organizations seeking to maintain tax-exempt status: Filing the short form 990-ez is a requirement for tax-exempt organizations to maintain their tax-exempt status. It helps the IRS and the public understand the organization's activities, finances, and compliance with the tax laws.

Remember, it is essential to consult with a professional accountant or tax advisor to ensure accurate completion of the form and compliance with any specific regulations relevant to your organization.

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What is short form 990-ez?

The short form 990-ez is a simplified version of Form 990 that is used by small tax-exempt organizations to report their financial information to the IRS.

Who is required to file short form 990-ez?

Tax-exempt organizations with gross receipts less than $200,000 and total assets less than $500,000 are required to file the short form 990-ez.

How to fill out short form 990-ez?

To fill out the short form 990-ez, organizations must provide information about their revenue, expenses, assets, and activities for the tax year.

What is the purpose of short form 990-ez?

The purpose of the short form 990-ez is to provide the IRS and the public with information about the financial status and activities of small tax-exempt organizations.

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

Information about revenue, expenses, assets, activities, and governance must be reported on the short form 990-ez.