Get the free Form 990-EZ Short Form Return of Organization Exempt From Income Tax OMB No 1545-115...

Form 990-EZ Short Form Return of Organization Exempt From Income Tax OMB No 1545-1150 20013 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-ez short form

How to Fill Out Form 990-EZ Short Form:

1. Gather all necessary information: Before starting to fill out Form 990-EZ Short Form, you should gather all the required information. This includes details about your organization's income and expenses, assets and liabilities, program services, and any other relevant financial information.
2. Download the form: The Form 990-EZ Short Form can be obtained from the official website of the Internal Revenue Service (IRS). Download and print the form to have a physical copy ready to complete.
3. Provide basic information: Begin by filling out the basic information at the top of the form. This includes your organization's name, address, Employer Identification Number (EIN), fiscal year-end date, and the type of return being filed.
4. Complete Part I: Part I of the form focuses on the organization's revenue and expenses. Provide accurate and detailed information regarding your organization's income, such as contributions, program service revenue, investment income, and any other relevant sources. Similarly, report all the expenses incurred by your organization, including salaries and wages, rent, supplies, and other expenses.
5. Fill out Part II: Part II of the form requires you to provide information about your organization's balance sheet, including assets, liabilities, and net assets or fund balances. Report the beginning and ending balances for each category accurately.
6. Answer additional questions: Part III consists of a series of yes/no questions that help the IRS understand your organization's activities and confirm compliance with tax regulations. Read each question carefully and provide the necessary answers.
7. Complete Part IV and Part V: Part IV requires organizations to provide information about their activities, such as program services, lobbying activities, political campaign intervention, and more. Answer all the questions accurately and as thoroughly as possible. Part V is optional and is only to be filled out if your organization wants to provide additional information or explanations.
8. Review and double-check: Once you have filled out all the required sections, carefully review the information provided to ensure accuracy and completeness. Double-check that all calculations are accurate, and all relevant information has been provided.
9. Sign and submit: After reviewing the form, sign it and have it signed by an authorized individual within your organization. Keep a copy for your records and submit the completed Form 990-EZ Short Form to the IRS.

Who needs form 990-EZ Short Form?

1. Non-profit organizations: Form 990-EZ Short Form is specifically designed for smaller non-profit organizations that have gross receipts less than $200,000 and total assets less than $500,000. These organizations are eligible to use this shorter and simpler version of the Form 990, which provides a summary of their financial activities.
2. Charitable organizations: Non-profit organizations classified as charitable entities by the IRS, such as public charities, private foundations, and certain other tax-exempt organizations, may be required to file Form 990-EZ Short Form. It helps the IRS ensure transparency and accountability in their financial operations.
3. Tax-exempt organizations: Organizations exempt from federal income tax under section 501(c) of the Internal Revenue Code must generally file an annual information return, such as Form 990-EZ Short Form. It allows the IRS and the public to assess the organization's operations, governance, and compliance with tax laws.

Remember, it is important to consult with a tax professional or refer to the IRS guidelines to ensure accurate and compliant completion of Form 990-EZ Short Form for your specific organization.

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