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This document discusses the revised Form 990 released by the IRS for public charities and tax-exempt organizations, detailing changes made based on public comments, filing requirements, and forthcoming

How to fill out revised 2008 form 990

How to fill out Revised 2008 Form 990

1. Obtain the Revised 2008 Form 990 from the IRS website or your tax professional.
2. Fill in your organization's name, address, and EIN at the top of the form.
3. Complete the section on the organization's mission and revenue, detailing the types of income received.
4. Provide detailed financial information, including expenses, program services, and other activities.
5. Answer questions regarding governance, management policies, and any changes in the organization during the year.
6. Include necessary schedules such as Schedule A for public charities or Schedule B for contributors.
7. Review the completed form for accuracy and compliance with IRS guidelines.
8. Sign and date the form before submission.
9. Keep a copy of the completed form for your records.

Who needs Revised 2008 Form 990?

1. Non-profit organizations with gross receipts of $200,000 or more or total assets of $500,000 or more.
2. Organizations classified as 501(c)(3) requiring to report their financial activities.
3. Charitable organizations that must comply with federal tax reporting requirements.

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What is Revised 2008 Form 990?

Revised 2008 Form 990 is an annual information return that tax-exempt organizations in the United States are required to file with the Internal Revenue Service (IRS). It provides a comprehensive overview of an organization's activities, governance, and financial information.

Who is required to file Revised 2008 Form 990?

Organizations that are classified as tax-exempt under section 501(c)(3) and other sections of the Internal Revenue Code typically must file Revised 2008 Form 990 if their gross receipts exceed a certain threshold or if they have assets over a specific limit.

How to fill out Revised 2008 Form 990?

To fill out Revised 2008 Form 990, organizations must gather financial data, list their activities and accomplishments, disclose compensation for key employees and directors, and provide detailed information about their governance policies. It can be completed either on paper or electronically using IRS-approved software.

What is the purpose of Revised 2008 Form 990?

The purpose of Revised 2008 Form 990 is to provide transparency regarding the operations and financial health of tax-exempt organizations. It allows the IRS and the public to assess an organization's compliance with tax laws and its accountability to donors and the community.

What information must be reported on Revised 2008 Form 990?

Revised 2008 Form 990 requires reporting of various types of information, including the organization's mission and programs, financial statements, compensation of top management, governance practices, and disclosures regarding potential conflicts of interest.