IRS Forms
Nonprofit organizations must be familiar with several IRS forms to maintain compliance and ensure their tax-exempt status. Here are some fundamental forms every nonprofit should know about:
These IRS forms are intended for use by your tax professional. Please contact them directly for assistance.
- 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.
Additional Documents : Exempt Organizations Technical Guide and
Guide for Charities
Don’t hesitate to contact us today!
Staying on top of these forms and ensuring timely, accurate filings is a cornerstone of maintaining your nonprofit’s tax-exempt status and credibility. If navigating these requirements is challenging, The Document Pro is here to assist you. Our team of experts can help you manage your compliance needs and resolve any issues that may arise.
Approved Grants
We’re Making Grant Opportunities Come to Life!
