Get the free 2017 Exempt Organization Business Tax Return

2017 Exempt Organization Business Tax Return prepared for: KENTUCKY AND SOUTHERN INDIANA STROKE ASSOCIATION, INC. 3425 STONY SPRINGS, #102 LOUISVILLE, KY 40220CHARLES J. VETERAN, CPA, PSC 2527 Nelson

How to fill out 2017 exempt organization business

How to fill out 2017 exempt organization business

1. Start by gathering all necessary documents and information, such as the organization's Employer Identification Number (EIN), financial records, and information about the organization's activities and governance.
2. Determine the appropriate form to use for filing the exempt organization business return. Most organizations will use Form 990, but there are various versions of the form depending on the size and type of organization.
3. Carefully review the instructions provided with the form to ensure all required information is included and accurately filled out.
4. Complete all relevant sections of the form, providing detailed information about the organization's financial activities, including revenue, expenses, and assets.
5. Attach any necessary schedules or additional forms that may be required based on the organization's specific circumstances.
6. Review the completed form and all attached documentation to ensure accuracy and completeness.
7. Sign and date the form, and keep a copy for the organization's records.
8. File the completed form and any required payment by the designated deadline. The deadline for filing exempt organization business returns is typically the 15th day of the fifth month after the organization's accounting period ends.

Who needs 2017 exempt organization business?

1. Any organization that qualifies as a tax-exempt organization under section 501(c) of the Internal Revenue Code needs to file an exempt organization business return for the year 2017.
2. This includes different types of nonprofit organizations, such as charities, religious organizations, educational institutions, and social welfare organizations, among others.
3. Organizations that have received a letter of determination from the IRS granting tax-exempt status should file the exempt organization business return.

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What is exempt organization business tax?

Exempt organization business tax is a tax that certain organizations are required to pay on income that is unrelated to their tax-exempt purpose.

Who is required to file exempt organization business tax?

Nonprofit organizations that have unrelated business income exceeding $1,000 are generally required to file exempt organization business tax.

How to fill out exempt organization business tax?

To fill out exempt organization business tax, organizations need to complete Form 990-T and include information about their unrelated business income.

What is the purpose of exempt organization business tax?

The purpose of exempt organization business tax is to ensure that tax-exempt organizations are not unfairly competing with for-profit businesses.

What information must be reported on exempt organization business tax?

Information such as gross income from unrelated business activities, deductions, and the net unrelated business taxable income must be reported on exempt organization business tax.