Get the free 2012 Form 990 and 990-EZ —Significant Changes

This document outlines the significant changes made to the IRS Form 990 and 990-EZ, including revisions to reporting requirements, instructions, and schedules for tax year 2012.

How to fill out 2012 form 990 and

How to fill out 2012 Form 990 and 990-EZ —Significant Changes

1. Gather necessary financial statements from your organization for the year ending in 2012.
2. Download the 2012 Form 990 or Form 990-EZ from the IRS website.
3. Review the instructions carefully to understand any significant changes from previous years.
4. Fill out Part I: Summary, including basic organizational information and financial summary.
5. Complete Part II: Signature Block, ensuring the authorized person signs and dates the form.
6. Fill out the financial sections, including revenue, expenses, and assets in Parts VIII, IX, and X.
7. Answer all governance questions in Part VI to disclose information about your board and policies.
8. If applicable, complete the Schedules which are specific addendums to provide additional details.
9. Review all answers for accuracy and completeness before submitting.
10. Submit the completed form to the IRS by the appropriate deadline.

Who needs 2012 Form 990 and 990-EZ —Significant Changes?

1. Organizations that are tax-exempt under section 501(c)(3) and have gross receipts over $50,000.
2. Larger organizations that are required to file a full Form 990.
3. Certain smaller tax-exempt organizations that may be eligible to file Form 990-EZ rather than the full Form 990.
4. Organizations that received substantial contributions or grants that necessitate a more detailed reporting.

People Also Ask about

What's the difference between 990 and 990 T?

Unlike Form 990 (link to B6) which is NOT used to calculate taxes owed by the organization, IRS Form 990-T is a separate tax form that must be filed by tax-exempt organizations that have certain types of unrelated business income and is used to calculate and report tax owed.

What is the difference between a 990 and a 990-EZ?

Form 990 is for tax-exempt organizations with gross receipts of $200,000 or more (or) total assets of $500,000 or more, whereas Form 990-EZ is for organizations with gross receipts less than $200,000 (and) total assets less than $500,000.

What is the 990-EZ rule?

If an organization has gross receipts less than $200,000 and total assets at the end of the year less than $500,000, it can file Form 990-EZ, instead of Form 990.

How to find current assets on Form 990?

Line 19 (Net assets at the beginning of year) and Line 21 (Net assets at end of year) are of obvious interest as they indicate the amount of assets over all liabilities (i.e., net assets) that the filer holds or what the filer's net worth is at the beginning (Line 19) and end (Line 21) of the year.

Why are 990s so delayed?

Pandemic-related 990 delays have hampered the field We've dubbed this the data/crisis catch-22 — the fact that the pandemic made up-to-date data more critical to access and yet also more difficult to come by. In fact, between August 2022 and April 2023, the IRS released very little 990 data at all.

For pdfFiller’s FAQs

What is 2012 Form 990 and 990-EZ —Significant Changes?

The 2012 Form 990 and 990-EZ introduced significant changes including new reporting requirements to enhance transparency, such as a new section for functional expenses and greater emphasis on financial data.

Who is required to file 2012 Form 990 and 990-EZ —Significant Changes?

Organizations with gross receipts over $200,000 or total assets over $500,000 are required to file Form 990; smaller organizations with gross receipts below these thresholds may file Form 990-EZ.

How to fill out 2012 Form 990 and 990-EZ —Significant Changes?

To fill out the form, organizations need to provide detailed financial information, governance details, and program service accomplishments, as well as answers to specific questions that reflect compliance and operational practices.

What is the purpose of 2012 Form 990 and 990-EZ —Significant Changes?

The purpose of Form 990 and 990-EZ is to provide the IRS and the public with information about the financial condition, activities, and governance of tax-exempt organizations, ensuring accountability and transparency.

What information must be reported on 2012 Form 990 and 990-EZ —Significant Changes?

Required information includes revenue and expenses, balance sheet data, compensation of key employees, activities, governance structure, and a summary of the organization’s mission and programs.