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Form 990 A For the 2012 calendar year, or tax year beginning X JUL 1, 2012 Address change Name change Initial return Terminated Amended return Application pending D Employer identification number

How to fill out return of organization exempt

How to fill out return of organization exempt:

1. Start by obtaining the necessary forms from the Internal Revenue Service (IRS) website or by requesting them through mail. The main form needed is Form 990, which is used to file the return of organization exempt from income tax.
2. Carefully read the instructions provided with the form. Familiarize yourself with the requirements and gather all the relevant financial information about your organization, including revenue and expenses.
3. Begin filling out the form by providing basic information about your organization, such as its name, address, and Employer Identification Number (EIN). Make sure to double-check the accuracy of the information provided.
4. Proceed to Part I: Summary, where you will need to report the organization's revenue, expenses, and net assets for the relevant tax year. This section will require you to provide specific details about different sources of revenue, such as donations, grants, program service revenue, and investment income.
5. Move on to Part II: Balance Sheets, where you will need to present the organization's assets, liabilities, and net assets at the beginning and end of the tax year. This includes providing information about cash, investments, accounts payable, and other financial aspects.
6. Complete the remaining sections of Form 990, including Part III: Statement of Program Service Accomplishments, Part IV: Checklist of Required Schedules, and Part V: Statements Regarding Other IRS Filings and Tax Compliance.
7. Ensure that all required schedules and attachments are included with the form. These may include additional financial statements, a narrative description of your organization's activities, and other relevant information depending on the size and type of your organization.
8. Once you have fully completed and reviewed the return, sign and date it. Make copies for your records and submit the original form to the IRS by the designated deadline, which is usually the 15th day of the fifth month after the organization's tax year ends. Consider sending it via Certified Mail to have proof of mailing.
9. Keep in mind that some organizations may be required to file additional forms or schedules along with Form 990, such as Schedule A for public charities or Schedule B for reporting significant contributions.
10. Finally, it is important to note that not all organizations need to file the return of organization exempt. Generally, tax-exempt organizations, such as charitable, religious, educational, or scientific organizations, are required to file this form to maintain their tax-exempt status. However, smaller organizations with low levels of revenue may qualify for certain exceptions or may need to file a simplified version of the form. It is advisable to consult IRS guidelines or seek professional assistance to determine whether your organization needs to file the return of organization exempt.

Who needs return of organization exempt:

1. Tax-exempt organizations: Entities that have been granted tax-exempt status by the IRS, such as charitable organizations, religious institutions, educational institutions, scientific organizations, and certain other types of non-profit organizations.
2. Organizations with gross receipts exceeding the threshold: Generally, organizations with gross receipts above a certain threshold are required to file the return of organization exempt. The threshold may vary based on the organization's size and type, but for most organizations, it is $50,000 or more.
3. Organizations seeking to maintain tax-exempt status: Filing the return of organization exempt is essential for organizations that want to preserve their tax-exempt status. By submitting the form, organizations demonstrate their compliance with IRS regulations and ensure their continued eligibility for tax exemptions.
4. Organizations registered as "501(c)(3)" entities: Charitable organizations that have obtained a 501(c)(3) status under the Internal Revenue Code must file the return of organization exempt. This form helps the IRS monitor their activities, financial transparency, and compliance with the law.
5. Public charities and private foundations: Both public charities and private foundations are typically required to file the return of organization exempt. These organizations play a vital role in providing charitable services and disbursing funds for social causes, and the IRS requires accountability through the filing of this return.

Note: It is important to consult the current IRS guidelines and regulations or seek professional advice to ensure compliance with the specific requirements for filing the return of organization exempt, as they may vary based on individual circumstances and the type of organization involved.

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What is return of organization exempt?

Return of organization exempt is a form that tax-exempt organizations must file with the IRS to maintain their tax-exempt status.

Who is required to file return of organization exempt?

Tax-exempt organizations, such as charities, churches, and other nonprofits, are required to file a return of organization exempt.

How to fill out return of organization exempt?

The return of organization exempt can be filled out electronically using Form 990, Form 990-EZ, or Form 990-N, depending on the size and type of organization.

What is the purpose of return of organization exempt?

The purpose of return of organization exempt is to provide the IRS with information about the organization's financial status, activities, and compliance with tax laws.

What information must be reported on return of organization exempt?

Information such as income and expenses, assets and liabilities, program activities, governance, and compensation of key employees must be reported on the return of organization exempt.