Get the free 990 Tax Return 2007-2008 - Becoming Independent - becomingindependent

Bells Super LLP 19 Keller Street Petaluma, CA 94952 707.763.3888 Came Weaver Becoming Independent 1425 Corporate Center Parkway Santa Rosa, CA 95407 Dear Came: Enclosed is the organization's 2007

How to fill out 990 tax return 2007-2008

Who needs 990 tax return 2007-2008?

1. Nonprofit organizations: Nonprofit organizations, also known as tax-exempt organizations, are required to file a Form 990 tax return with the IRS annually. This form is used to provide financial information about the organization and maintain its tax-exempt status. It is a comprehensive document that outlines the organization's activities, financial health, and governance.
2. Public charities: Public charities, including religious organizations, educational institutions, and social welfare organizations, must file Form 990 to report their financial activities. This allows the IRS and the public to review how these organizations operate and ensure they are using their resources in accordance with their charitable missions.
3. Private foundations: Private foundations, which are typically established by individuals, families, or corporations, are also required to file Form 990. These foundations generally have more stringent reporting requirements compared to public charities, as they often rely on a single source for their funding and have a greater potential for abuses.

How to fill out 990 tax return 2007-2008?

1. Gather necessary information: Before starting to fill out Form 990, collect all the relevant financial records, including receipts, bank statements, and payroll records. You will need to provide accurate and detailed information about the organization's income, expenses, assets, liabilities, and program activities.
2. Obtain the form: Visit the IRS official website or contact the IRS to request Form 990 for the tax year 2007-2008. Make sure that you are using the correct version of the form for that specific year.
3. Provide organization information: Begin by filling out the basic information about the organization, including its name, address, and EIN (Employer Identification Number). Indicate whether this is an initial return, final return, or an amended return.
4. Complete Part I: Part I of Form 990 gathers general information about the organization's mission, activities, and governance. Answer the questions accurately, providing a clear and concise picture of the organization's purpose and structure.
5. Fill out financial sections: Proceed to complete parts II, III, IV, and V of the form, which focus on the organization's revenue, expenses, assets, and liabilities. Provide detailed information about each category, including appropriate documentation and explanations where required.
6. Report program activities: In Part III, disclose the organization's program accomplishments and describe how it achieved its stated mission during the tax year in question. Be specific and avoid using vague or general language when describing the organization's programs and initiatives.
7. Complete additional schedules if necessary: Depending on the organization's activities and financial transactions, additional schedules may be required. These schedules provide more specific information on certain aspects, such as compensation for key employees, lobbying activities, and supplemental financial statements.
8. Review and sign: Once you have filled out all the necessary sections and schedules, carefully review the form to ensure accuracy and completion. Sign the return as required and provide the necessary contact information for the organization's authorized representative.
9. Retain a copy: After filing, make sure to retain a copy of the filled-out Form 990 for your records. This will serve as documentation of the organization's financial activities and can be referred to in case of future inquiries or audits.

Remember, the information provided here is a general guideline, and it is always recommended to consult with a tax professional or seek expert advice to ensure compliance with the latest IRS regulations and requirements.

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What is 990 tax return?

990 tax return is a form that tax-exempt organizations, non-profit organizations, and certain other entities must file with the IRS to provide information on their finances and operations.

Who is required to file 990 tax return?

Organizations with tax-exempt status under section 501(c) of the Internal Revenue Code are required to file 990 tax return.

How to fill out 990 tax return?

990 tax return can be filled out electronically using the IRS's e-file system or by mailing a paper form to the IRS.

What is the purpose of 990 tax return?

The purpose of 990 tax return is to provide the IRS and the public with information about the organization's finances, activities, and governance.

What information must be reported on 990 tax return?

Information such as revenue, expenses, assets, liabilities, programs conducted, governance structure, and executive compensation must be reported on 990 tax return.