Get the free Form 990 -EZ1

Short Form Return of Organization Exempt From Income Tax Form 990 -EZ1 OMB No 1545-1150 2013 Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except private foundations) Do not

How to fill out form 990 -ez1

How to fill out Form 990-EZ:

1. Begin by gathering all the necessary information and documentation required to complete the form. This may include details about the organization's financial transactions, revenue, expenses, assets, liabilities, and program activities.
2. Download Form 990-EZ from the official Internal Revenue Service (IRS) website or obtain a copy from a tax professional. Ensure that you have the correct version of the form for the applicable tax year.
3. Familiarize yourself with the instructions provided with the form. These instructions will guide you through each section of the form and provide explanations for the required information.
4. Start with Part I, which requires basic information about the organization, such as its name, address, Employer Identification Number (EIN), accounting method used, and year of formation.
5. Move on to Part II, where you will provide a brief description of the organization's mission or activities. Additionally, this section requires you to select the appropriate category that best represents your organization's activities.
6. Proceed to Part III, which focuses on the organization's statement of program service accomplishments. Here, you need to describe the organization's major programs, the number of individuals served, and any significant achievements during the tax year.
7. In Part IV, you will report the organization's revenue and expenses. This section requires you to provide details about specific sources of revenue, such as contributions, program service revenue, and investment income. Similarly, you need to disclose various expense categories, including program services, management and general, and fundraising expenses.
8. Part V deals with the organization's assets, liabilities, and net assets or fund balances. You will report the beginning and ending balances for each specific type of asset and liability. Additionally, if applicable, you must disclose any loans or other indirect debt incurred during the tax year.
9. Finally, Part VI requires the completion of a governance section, which focuses on the organization's governing body, policies, and disclosures.
10. Review the completed Form 990-EZ for accuracy and completeness. Make sure all required schedules and attachments, if any, have been included.
11. Sign and date the form where indicated. If the return is prepared by a tax professional, they must also sign in the appropriate section.
12. Keep a copy of the filed Form 990-EZ for your records. The form should be filed with the appropriate IRS service center by the due date, which can vary depending on the organization's fiscal year.

Who needs Form 990-EZ:

1. Nonprofit organizations recognized as tax-exempt under section 501(c)(3) of the Internal Revenue Code are typically required to file Form 990. However, small organizations with gross receipts less than $200,000 and total assets under $500,000 can choose to file the shorter Form 990-EZ.
2. Form 990-EZ is designed for organizations that do not meet the requirements to file the even more detailed Form 990.
3. It is important to note that even if an organization is not required to file Form 990 or Form 990-EZ due to minimal financial activity, they may still need to file a different form, such as the Form 990-N or the Form 990-PF, depending on their specific situation.

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What is form 990 -ez1?

Form 990-EZ is an annual information return that certain tax-exempt organizations must file with the IRS. It is a simplified version of Form 990.

Who is required to file form 990 -ez1?

Certain tax-exempt organizations with gross receipts less than $200,000 and total assets less than $500,000 are eligible to file Form 990-EZ instead of the longer Form 990.

How to fill out form 990 -ez1?

Form 990-EZ can be filled out manually or electronically using tax preparation software. The organization must provide information about its activities, finances, and governance.

What is the purpose of form 990 -ez1?

The purpose of Form 990-EZ is to provide the IRS and the public with information about a tax-exempt organization's mission, activities, and financial status.

What information must be reported on form 990 -ez1?

Form 990-EZ requires information about the organization's revenue, expenses, assets, liabilities, program services, and governance.