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Form990EZShort Form Return of Organization Exempt From Income Tax Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except private foundations) Department of the Treasury Internal

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How to fill out a beginning of year

01

Gather all necessary financial documents, such as income statements, expense records, and bank statements.

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Review the previous year's financial performance to understand any trends or areas that need attention.

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Identify and categorize all income sources and expenses based on relevant tax regulations.

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Ensure accurate reporting of any business or personal tax deductions.

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Complete all required forms, such as IRS Form 1040 for individuals or Form 1120 for corporations.

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Submit the completed beginning of year filing to the appropriate tax authority before the deadline.

Who needs a beginning of year?

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Any individual or business entity that is required to file taxes or report their financial information to the tax authorities needs to complete a beginning of year. This includes individuals, self-employed individuals, small business owners, and corporations.

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