IRS Forms

Purpose: This annual information return is required for tax-exempt organizations to provide the IRS with an overview of their activities, governance, and detailed financial information.

Variants:

• Form 990-N (e-Postcard): For organizations with gross receipts typically $50,000 or less.
• Form 990-EZ: For organizations with gross receipts less than $200,000 and total assets less than $500,000.
• Form 990-PF: For private foundations.

Purpose: This form is used by tax-exempt organizations to report unrelated business income and calculate any income tax due on that income.

Details: Even if the organization does not owe tax, it must file this form if it has a gross income of $1,000 or more from unrelated business activities.

Purpose: Used to calculate estimated tax payments for organizations with unrelated business taxable income.

Details: This internal worksheet is not filed with the IRS but is essential for calculating quarterly estimated tax payments.

Purpose: This form is used to apply for recognition of exemption under Section 501(c)(3) of the Internal Revenue Code.

Details: It requires detailed information about the organization’s structure, governance, activities, and finances.

Variants: Form 1023-EZ is a simplified version available for smaller organizations with gross receipts of $50,000 or less and assets of $250,000 or less.

Purpose: This form allows 501(c)(3) organizations to elect to have their lobbying expenditures measured by the expenditure test rather than the substantial part test.

Details: It provides a more transparent framework for organizations engaging in lobbying activities.

Purpose: Used by organizations to report the sale or disposal of donated property within three years of receiving the donation. Details: Helps the IRS track property donations and ensure donors claim appropriate deductions.

Purpose: Used by donors and recipient organizations to report noncash contributions worth more than $500.

Details: The organization must acknowledge receipt of the donated property.

Purpose: Allows nonprofits to request an automatic 6-month extension to file Forms 990, 990-EZ, 990-PF, and 990-T.

Details: Must be filed before the due date of the return for which the extension is being requested.