Get the free 990 tax return - American Thyroid Association - thyroid

AMERICAN THYROID ASSOCIATION Part III Statement of Program Service Accomplishments 41-6038600 Form 990 (2012) 1-Page 2 Check if Schedule O contains a response to any question in this Part III Briefly

How to fill out 990 tax return

How to fill out a 990 tax return:

1. Gather all necessary information and documents: Before starting to fill out the 990 tax return, make sure you have all the required information and documents. This includes details about your organization's finances, such as income, expenses, and assets, as well as information about your governing body and activities.
2. Review the instructions: The 990 tax return form comes with detailed instructions that guide you through the process of filling it out. Take your time to carefully read and understand these instructions to ensure accurate completion of the form.
3. Provide basic information: Begin by providing basic information about your organization, such as its name, address, Employer Identification Number (EIN), and the tax year to which the return applies.
4. Answer yes or no questions: The 990 tax return includes a series of yes or no questions related to your organization's activities and compliance with tax laws. Carefully read each question and provide the necessary response.
5. Complete required schedules: Depending on the type and size of your organization, you may need to complete additional schedules alongside the main 990 form. These schedules provide more detailed information about specific aspects of your organization's operations, such as fundraising activities or compensation of key employees.
6. Report financial information: The 990 tax return requires you to report your organization's financial information, including revenue, expenses, assets, and liabilities. This section may include various lines and sections dedicated to different types of income and expenses, so ensure accurate reporting by reviewing the instructions.
7. Provide details about governing body and policies: The 990 tax return also asks for information about your organization's governing body, including its board members or trustees. Additionally, you may need to disclose details about certain policies, such as conflict of interest policies or whistleblower policies.
8. Review and double-check: Once you have filled out the entire 990 tax return, take the time to review and double-check all the information provided. Mistakes or inaccuracies could lead to potential issues with the IRS, so ensure everything is accurate and complete.
9. File the return: Once you are confident that all the information is correct, it's time to file the 990 tax return. You can either electronically file the return through the IRS website or mail a printed copy of the form to the appropriate IRS address.

Who needs a 990 tax return:

1. Nonprofit organizations: The primary group of entities required to file a 990 tax return are nonprofit organizations, including charitable, religious, educational, and scientific organizations. These organizations must file the 990 tax return to maintain their tax-exempt status and provide transparency about their operations and finances to the IRS and the public.
2. Foundations: Private foundations, which are nonprofits focused on philanthropy and grant-making, are also required to file a 990 tax return. The specific form they must file depends on their asset size and the level of public support they receive.
3. Certain other entities: In addition to nonprofits and foundations, certain other entities may be required to file a 990 tax return. These include certain political organizations, social welfare organizations, labor organizations, and agricultural or horticultural organizations.

It is important to note that the specific requirements and thresholds for filing a 990 tax return may vary depending on the entity's type, size, and activities. Consulting with a tax professional or referring to the IRS guidelines can help determine if your organization needs to file a 990 tax return.

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What is 990 tax return?

The 990 tax return is a form that certain tax-exempt organizations are required to file with the IRS to provide financial information about their organization.

Who is required to file 990 tax return?

Nonprofit organizations, charities, and other tax-exempt organizations with gross receipts above a certain threshold are required to file a 990 tax return.

How to fill out 990 tax return?

To fill out a 990 tax return, organizations must provide detailed financial information including revenue, expenses, assets, and liabilities.

What is the purpose of 990 tax return?

The purpose of the 990 tax return is to provide transparency and accountability for tax-exempt organizations and ensure they are operating in accordance with their tax-exempt status.

What information must be reported on 990 tax return?

Information that must be reported on a 990 tax return includes financial data, governance structure, compensation of key employees, and details of activities conducted by the organization.

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