Get the free Federal 990 Tax Return - Tax Year 2013 - WordPress.com

TAX YEAR 2013 LAFAYETTE URBAN MINISTRY 420 N 4TH STREET LAFAYETTE, IN 47901 EDWARD Supermen, CPA 1901 KOSSUTH STREET LAFAYETTE, IN 47905 Phone: 765-588-4335 e edwardoppermancpa.com August 14, 2014,

How to fill out federal 990 tax return

How to fill out federal 990 tax return:

1. Gather all necessary information and documentation: Before filling out the federal 990 tax return, make sure you have all the required information and documents ready. This may include financial statements, receipts, records of contributions, and other relevant financial documents.
2. Determine which version of the form to use: The federal 990 tax return has different versions depending on the type of organization. Determine whether you should use Form 990, Form 990-EZ, or Form 990-N (e-Postcard). The size and nature of your organization will determine the appropriate form to use.
3. Fill out the basic information section: Start by filling out the basic information section of the form, including your organization's name, address, employer identification number (EIN), and the tax year you are reporting.
4. Provide details about your organization's mission: In the next section, you will be asked to provide details about your organization's mission and activities. Describe the purpose of your organization, its programs or services, and any accomplishments or achievements during the tax year.
5. Provide financial information: The federal 990 tax return requires specific financial information, including revenue and expenses, assets and liabilities, and any compensation paid to officers, directors, and key employees. Fill out the appropriate sections with accurate and complete information.
6. Report on governance, policies, and practices: The form includes sections that require information about your organization's governance, including details about your board of directors, conflict of interest policies, and compensation practices. Provide this information accurately and follow any instructions or guidelines provided.
7. Complete schedules and attachments, if applicable: Depending on your organization's activities and financial situation, you may need to complete additional schedules and attachments. These include Schedule A for public charities, Schedule B for certain organizations, and various other schedules for reporting specific activities or transactions. Ensure that you complete the required schedules accurately and attach them to the main form.
8. Review and double-check your entries: Before submitting your federal 990 tax return, carefully review all the information you have provided. Double-check for any errors or omissions to ensure the accuracy and completeness of the form.
9. Sign and submit the form: Once you are confident that all the information is accurate, sign the form and submit it to the appropriate tax authority. Ensure that you are submitting the form within the specified deadline for filing, usually the 15th day of the 5th month after the end of your organization's tax year.

Who needs federal 990 tax return:

1. Nonprofit organizations: Federal 990 tax returns are required for most tax-exempt organizations, including nonprofits, charities, foundations, and religious organizations. These organizations are usually exempt from income tax but are still required to file the 990 tax return to provide transparency and accountability to the public and the Internal Revenue Service (IRS).
2. Organizations with gross receipts above certain thresholds: Depending on the type of organization, there are different thresholds for filing the federal 990 tax return. For example, nonprofit organizations with gross receipts of $200,000 or more or total assets of $500,000 or more are generally required to file Form 990.
3. Public charities and private foundations: Public charities (including churches, schools, hospitals, and certain other organizations) that qualify for tax-exempt status under section 501(c)(3) of the Internal Revenue Code are required to file the federal 990 tax return regardless of their gross receipts or assets. Private foundations also fall under this requirement.
4. Organizations seeking tax-exempt status: Even if your organization hasn't yet obtained tax-exempt status, you may still need to file the federal 990 tax return while your application is pending. This is done by completing the appropriate parts of the form and submitting it to the IRS.

Note: It is important to consult with a tax professional or refer to the IRS guidelines and instructions specific to your organization to ensure compliance with the federal 990 tax return requirements.

For pdfFiller’s FAQs

What is federal 990 tax return?

The federal 990 tax return is a form that tax-exempt organizations are required to file with the IRS to provide information about their finances and activities.

Who is required to file federal 990 tax return?

Most tax-exempt organizations, including charities, religious organizations, and educational institutions, are required to file federal 990 tax return.

How to fill out federal 990 tax return?

To fill out federal 990 tax return, organizations need to gather information about their finances, activities, and governance, and then complete the form according to the instructions provided by the IRS.

What is the purpose of federal 990 tax return?

The purpose of federal 990 tax return is to provide transparency and accountability for tax-exempt organizations, as well as to ensure compliance with tax laws.

What information must be reported on federal 990 tax return?

On federal 990 tax return, organizations must report their revenue, expenses, assets, liabilities, program services, governance, and other relevant information.

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