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Form 990 EZ Department of the Treasury Short Form Return of Organization Exempt From Income Tax Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except black lung benefit trust

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 necessary documents and information handy. This includes your organization's financial information, including revenue and expenses, any program service accomplishments, and any other required details.
2. Review the instructions: The short form 990-EZ comes with detailed instructions provided by the Internal Revenue Service (IRS). Familiarize yourself with these instructions to ensure you understand the requirements and how to properly complete each section of the form.
3. Complete the organization information: Start by entering your organization's basic information, such as its name, address, and EIN (Employer Identification Number). Provide accurate and up-to-date information in this section.
4. Provide a statement of program service accomplishments: In this section, you will need to describe the nature of your organization's activities and achievements for the tax year. Explain how your organization has furthered its exempt purpose and benefited the community.
5. Report financial information: The short form 990-EZ requires you to report financial information, including revenue, expenses, and assets. Make sure to accurately record these numbers and provide detailed explanations, if necessary.
6. Answer the governance questions: There are several governance-related questions in this form that you need to answer. These questions pertain to the structure and operation of your organization, such as the number of board members, potential conflicts of interest, and policies in place.
7. Review and submit the form: Once you have completed all the sections, carefully review the form for any errors or missing information. Double-check all the numbers and ensure that the form is signed properly. Submit the form to the IRS by the due date.

Who needs short form 990-EZ:

1. Non-profit organizations with gross receipts less than $200,000: The short form 990-EZ is specifically designed for non-profit organizations with gross receipts less than $200,000 and total assets less than $500,000.
2. Organizations that are exempt from income tax but still need to file Form 990: Even if your organization is exempt from income tax, you may still be required to file some form of annual return with the IRS. The short form 990-EZ provides a simplified option for smaller non-profits to fulfill this requirement.
3. Organizations that want to provide transparency and accountability: Filing the short form 990-EZ allows non-profit organizations to provide transparency and accountability to their stakeholders, including donors, board members, and the public. It shows how the organization manages its finances and ensures compliance with IRS regulations.
4. Organizations seeking to maintain their tax-exempt status: Filing the short form 990-EZ is crucial for non-profits that want to maintain their tax-exempt status. By meeting the reporting requirements, organizations demonstrate their commitment to adhere to the IRS regulations and remain eligible for tax-exempt status.

Note: It is always recommended to consult a tax professional or seek guidance from the IRS for specific instructions and clarification regarding the filing of the short form 990-EZ.

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What is short form 990- ez?

Short form 990-EZ is a simplified version of Form 990, which is used by small tax-exempt organizations to report their financial information to the IRS.

Who is required to file short form 990- ez?

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

How to fill out short form 990- ez?

Short form 990-EZ can be filled out electronically or by hand. Organizations must provide information on their finances, activities, and governance.

What is the purpose of short form 990- ez?

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

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

Information such as revenue, expenses, assets, liabilities, program service accomplishments, and governance must be reported on short form 990-EZ.