Get the free 0047 Form 990 Return of Organization Exempt From Income Tax 2006 Under section 501 (...

OMB No 1545.0047 Form 990 Return of Organization Exempt From Income Tax 2006 Under section 501 ×c), 527, or 4947×AXL) of the Internal Revenue Code (except black lung benefit trust or private foundation)

How to fill out 0047 form 990 return

How to fill out 0047 form 990 return:

1. Gather all necessary information: Before starting to fill out the form, ensure you have all the relevant information required to complete it. This includes details about the organization, its activities, financial data, and any other supporting documents.
2. Provide basic information: The form will ask for basic information about the organization, such as its name, address, and Employer Identification Number (EIN). Make sure to enter this information accurately and double-check for any errors.
3. Fill out Part I: Part I of the form focuses on the summary of activities and financial information. Provide a brief description of the organization's mission, programs, and achievements during the tax year. Additionally, disclose the organization's financial data, such as revenue, expenses, and assets.
4. Complete Part II: Part II requires organizations to provide an in-depth breakdown of their program service accomplishments. This includes reporting on various program expenses, as well as identifying any significant changes or deviations from previous years.
5. Fill out Part III: Part III of the form is dedicated to the organization's statement of program service revenue, including contributions, grants, and any other sources of income related to its activities. Make sure to carefully report each category of revenue separately.
6. Complete the remaining sections: Depending on the organization's activities and financial structure, there may be additional parts and schedules to fill out. For example, Part IV covers the reconciliation of revenue, while Schedule A outlines public charity status and public support.
7. Review and double-check: Once you have completed all the required sections, review the form thoroughly to ensure accuracy and completeness. Check for any missing information, typos, or calculation errors that may affect the overall accuracy of the return.

Who needs 0047 form 990 return?

1. Nonprofit organizations: The 0047 form 990 return is primarily required for tax-exempt organizations, including charitable, religious, educational, and scientific organizations. These organizations are typically exempt from paying federal income tax and are required to submit this form annually to maintain their tax-exempt status.
2. Organizations with significant financial activity: The form is generally required for organizations with gross receipts exceeding $200,000 or total assets exceeding $500,000 during the tax year. However, certain exceptions and different reporting thresholds apply to specific types of organizations.
3. Public charities and private foundations: Public charities and private foundations are among the entities that must file the 0047 form 990 return. This form provides transparency and accountability for these organizations, disclosing their financial information, activities, and governance.

Note: It is important to consult with a tax professional or review the specific IRS guidelines to determine whether your organization needs to file the 0047 form 990 return and to ensure compliance with all reporting requirements.

For pdfFiller’s FAQs

What is 0047 form 990 return?

The 0047 form 990 return is a form used by tax-exempt organizations to provide information on their finances and activities to the IRS.

Who is required to file 0047 form 990 return?

Nonprofit organizations, charities, and other tax-exempt organizations are required to file the 0047 form 990 return.

How to fill out 0047 form 990 return?

To fill out the 0047 form 990 return, organizations must provide information on their income, expenses, assets, and activities for the year.

What is the purpose of 0047 form 990 return?

The purpose of the 0047 form 990 return is to ensure tax-exempt organizations are operating in compliance with tax laws and to provide transparency to the public.

What information must be reported on 0047 form 990 return?

Information such as income, expenses, executive compensation, assets, and activities must be reported on the 0047 form 990 return.

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