Get the free Form 990-ez

This form is used by organizations that are exempt from income tax under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code to provide information on their income, expenses, and activities.

How to fill out form 990-ez

How to fill out form 990-ez

1. Gather your organization's financial information for the tax year.
2. Download the Form 990-EZ from the IRS website or obtain a paper copy.
3. Complete the header section, including the organization's name, address, and Employer Identification Number (EIN).
4. Fill out Part I, which includes the Revenue, Expenses, and Changes in Net Assets/Net Income.
5. Complete Part II, reporting the balance sheets for the current and prior year.
6. If applicable, complete Part III, detailing the organization's program service accomplishments.
7. Fill out any additional schedules that are required based on your organization's activities.
8. Review the form for accuracy and completeness, then sign and date it.
9. Submit the completed form to the IRS by the due date.

Who needs form 990-ez?

1. Organizations with gross receipts of less than $200,000 and total assets under $500,000 at the end of the year.
2. Nonprofits that meet the criteria and are not required to file Form 990 or 990-PF.
3. Small tax-exempt organizations that want to provide financial transparency.

Comprehensive Guide to Filling Out the Form 990-EZ

Understanding Form 990-EZ

Form 990-EZ is a streamlined version of Form 990, designed for smaller tax-exempt organizations. This form is essential for organizations with gross receipts that do not exceed $200,000 and total assets that are less than $500,000. By using Form 990-EZ, nonprofits can furnish necessary information to the IRS and maintain their tax-exempt status while minimizing filing complexities.

To differentiate, Form 990 is required for larger tax-exempt entities, while Form 990-EZ serves those with reduced financial activity. Organizations must recognize that the accurate completion of either form is crucial to remain compliant with federal regulations.

• Form 990: For organizations with gross receipts over $200,000 or total assets over $500,000.
• Form 990-EZ: For smaller organizations meeting specific thresholds to simplify reporting.

Who must file Form 990-EZ?

Not all tax-exempt organizations are required to file Form 990-EZ. Only those entities whose gross receipts are below $200,000 or whose total assets are less than $500,000 must complete this form. This includes charities, religious organizations, voluntary health associations, and many community-based nonprofits. Organizations should assess their financial criteria annually to determine continued eligibility to file Form 990-EZ.

When is the filing deadline for Form 990-EZ?

The deadline for filing Form 990-EZ usually aligns with the organization’s fiscal year. Typically, it must be submitted by the 15th day of the 5th month after the end of the organization’s fiscal year. For organizations operating on a calendar year, the deadline is May 15th. If necessary, a six-month extension can be requested, allowing organizations to file by November 15th.

Preparing to file Form 990-EZ

Before diving into the completion of Form 990-EZ, organizations should gather a host of necessary documentation. This preparation ensures that accurate and complete information is submitted to the IRS. Key documents generally include financial statements from the fiscal year, such as income statements, balance sheets, and organizational details like the legal name and Employer Identification Number (EIN).

Additionally, organizations may need to complete additional schedules and attach them to the Form 990-EZ if applicable. For instance, Schedule A provides details about public charity status, while Schedule B outlines donor information, critical for compliance.

• Financial statements detailing income and expenses.
• Organizational details including name and EIN.
• Relevant schedules and attachments, depending on your nonprofit's activities.

What you’ need to file Form 990-EZ online

To facilitate the online filing process for Form 990-EZ, users should ensure they have reliable computer and internet access. Utilizing a cloud-based document management solution like pdfFiller can streamline this process, offering various templates and digital signing capabilities. Additionally, signing up for a pdfFiller account grants users opportunities for cloud-based completion and e-signatures, vital for a modern filing experience.

Step-by-step instructions for filing Form 990-EZ

Filing Form 990-EZ on pdfFiller can be methodical and straightforward. Here’s a step-by-step guide to walk you through the process:

• Select the Right Template: Navigate to pdfFiller’s Form 990-EZ template to get started.
• Enter Organization Details: Begin by inputting your organization's official name and EIN.
• Choose the Tax Year and Form: Specify which tax year you are filing for.
• Accurate Data Entry by Sections: Be meticulous while reporting your organization’s income, expenses, and assets.
• Review Your Form Summary: Use pdfFiller’s review tools to double-check all entries for accuracy.
• Attach Required Schedules: Identify necessary schedules based on your organization’s structure, ensuring they are completed and attached.

Electronic filing of Form 990-EZ

Filing Form 990-EZ electronically via pdfFiller is not only efficient but enhances accuracy and expediency. Users can access interactive features on pdfFiller for quick form completion, helping to avoid human errors common in paper filings.

The benefits of e-filing extend beyond just speed; they encompass improved accessibility and security, protecting sensitive organizational data throughout the submission process. Additionally, utilizing pdfFiller allows seamless integration of form templates with electronic signing functionality, streamlining the workflow.

Should Form 990-EZ be filed electronically? Key advantages

Absolutely. E-filing is recommended for several reasons:

• Speed: Electronic submissions can be filed almost instantly.
• Accessibility: Access your forms anytime and anywhere through pdfFiller’s cloud capabilities.
• Security: E-filing minimizes the risk of lost documents and improves data confidentiality.

Special considerations and FAQs

Understanding the nuances of filing Form 990-EZ can streamline the process and help ensure compliance. Common issues arise from late filings, which can lead to penalties. Organizations often face challenges such as missing the deadline due to oversight or changes in leadership.

If you’ve already filed but need to make corrections, you can amend a previously filed 990-EZ return. This can be beneficial, particularly when errors are found post-filing. Additionally, exploring no-cost amendments is encouraged for maintaining compliance.

• Common reasons for late filing: mismanagement, lack of awareness on filing deadlines, and organizational restructuring.
• Guidance on amendments: how to correct and improve prior submissions.
• Group Exemption Number (GEN): An overview of its significance and role.
• Filing Extensions: Process and timelines for filing for extensions.
• What to do if your return is rejected: tips for retransmitting using pdfFiller.

Navigating potential penalties

Understanding potential penalties for late filing of Form 990-EZ is essential for compliance. Nonprofits face different penalties based on their type and size, which can accumulate quickly. Being proactive in meeting the filing deadlines can save organizations from incurring these fines.

Common mistakes that lead to penalties often include reporting inaccuracies and failing to include required schedules. Therefore, prioritizing accuracy in data entry and ensuring all necessary documents are attached will significantly decrease the risk of errors. Utilizing pdfFiller's interactive features can assist users in managing these common pitfalls efficiently.

• Different penalties exist based on nonprofit types: 501(c)(3) organizations may face stiffer fines compared to others.
• Insurance against common mistakes by reviewing entries thoroughly before submission.

Enhancing your filing experience with pdfFiller

pdfFiller is designed to enhance your filing experience, offering interactive features that cater specifically to Form 990-EZ. Users can easily manage their forms, facilitating quick signing processes, importing prior year’s data, and conducting internal audit checks for accuracy.

Access to a knowledge base and a suite of resources, including webinars and video tutorials, further supports users in navigating the complexities of the IRS forms, ensuring seamless compliance and a better overall managing of their documentation needs.

• Interactive features: Providing users a hands-on way to complete their forms accurately.
• Easy signing processes: Streamlined e-signature options directly through the platform.
• Importing prior year’s data: Facilitating efficiency and consistency in filings.
• Internal audit checks: Enhancing the accuracy of submissions through comprehensive checks.

Client and team management for organizations

Managing multiple filings can become complex for nonprofits as they explore options for compliance. Best practices for client and team management include designating individuals to oversee the filing process, creating a timeline for submissions, and employing collaborative tools that enable team input and review.

Establishing a systematic approach to nonprofit filings ensures all documents are prepared and submitted timely. pdfFiller’s collaborative function empowers team members to provide feedback on each draft, promoting accuracy and collective ownership of the filing process.

• Designated roles: Clear accountability for managing filings within the organization.
• Collaboration tools: Utilizing pdfFiller for real-time review and edits.
• Volume-based pricing options: Commonly beneficial for organizations with multiple filings.

Harnessing additional resources

Additional resources greatly assist organizations in navigating their Form 990-EZ filings. Free tools and calculators, like the 990-EZ due date calculator and Form 990 finder, streamline the filing process. These tools help ensure that submissions are on time and aligned with IRS requirements.

Helpful videos and guides simplify the process, providing step-by-step illustrations to assist users. Alongside pdfFiller's support, building a compliance strategy becomes much more achievable, providing organizations peace of mind throughout the tax season.

• 990-EZ due date calculator: Efficiently track important dates.
• Form 990 finder: Quickly locate previous forms filed.
• Video tutorials: Visually guide users through complex filing steps.

Getting started with Form 990-EZ on pdfFiller

Initiating your filing journey with Form 990-EZ on pdfFiller is straightforward. Start by navigating to the Form 990-EZ template on pdfFiller's platform. From there, follow the interactive features to complete your form efficiently. The platform allows for seamless management of your submissions and aids in tracking revisions and comments—all from the comfort of a cloud-based solution.

Leverage pdfFiller’s cloud capabilities to enhance your filing management, granting access from any device. This flexibility enables organizations to mobilize their documents efficiently, ensuring they are well-prepared for compliance and audit requirements.

• Navigate to pdfFiller’s template: Quick access to necessary documents.
• Utilize interactive features for form completion: Making the process engaging and less cumbersome.
• Track your form submissions and revisions on the cloud: Essential for maintaining organized records.

For pdfFiller’s FAQs

How can I send form 990-ez for eSignature?

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What is form 990-ez?

Form 990-EZ is a shorter version of the Form 990 that is used by tax-exempt organizations to provide the IRS with annual financial information about their activities, governance, and compliance with tax laws.

Who is required to file form 990-ez?

Organizations with gross receipts of less than $200,000 and total assets of less than $500,000 at the end of the tax year are typically required to file Form 990-EZ.

How to fill out form 990-ez?

To fill out Form 990-EZ, organizations must provide financial information such as revenue, expenses, net assets, and details about their programs, along with other required information specific to their operations and governance.

What is the purpose of form 990-ez?

The purpose of Form 990-EZ is to allow tax-exempt organizations to report their financial activities to the IRS and to support transparency, accountability, and compliance within the nonprofit sector.

What information must be reported on form 990-ez?

Form 990-EZ requires organizations to report basic organizational information, financial data including revenue and expenses, compensation of highest-paid employees, program accomplishments, and other relevant operational and governance details.