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GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2009 H5 HOUSE BILL 1717* Committee Substitute Favorable 6/9/10 Committee Substitute #2 Favorable 6/16/10 Fourth Edition Engrossed 6/22/10 Senate Judiciary
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Bill 990 Second Edition refers to a revised version of a nonprofit organization's annual information return required by the Internal Revenue Service (IRS) in the United States. It includes updated requirements for reporting financial information.
Nonprofit organizations, including charities and other tax-exempt entities, are required to file Form 990 Second Edition if they meet certain revenue or asset thresholds set by the IRS.
To fill out Form 990 Second Edition, organizations must gather their financial records, complete the required sections of the form, and provide detailed information about their activities, finances, governance, and compliance. It is advisable to consult IRS instructions and possibly seek professional assistance.
The purpose of Form 990 Second Edition is to provide the IRS and the public with information about a nonprofit organization's financial activities, governance, and compliance with tax regulations. It helps ensure transparency and accountability.
Organizations must report financial information, including revenue, expenses, assets, liabilities, program service accomplishments, governing body information, and any related party transactions on Form 990 Second Edition.
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