2011-2025 Form

What is the IRS Form 990 EZ

The IRS Form 990 EZ is a simplified version of the standard Form 990, designed for small tax-exempt organizations, including charities and non-profits, with gross receipts under two hundred fifty thousand dollars and total assets under five hundred thousand dollars. This form allows these organizations to report their financial information to the IRS, ensuring compliance with federal regulations. By using Form 990 EZ, organizations can provide essential details about their mission, programs, and financial activities without the complexity of the full Form 990.

How to use the IRS Form 990 EZ

Using the IRS Form 990 EZ involves several steps to ensure accurate reporting. Organizations must first gather necessary financial records, including income statements, balance sheets, and details of any program services. After collecting this information, organizations can complete the form by filling out sections related to their mission, programs, and financial data. It is essential to ensure that all provided information is accurate and complete, as this form serves as a public document and is available for public inspection.

Steps to complete the IRS Form 990 EZ

Completing the IRS Form 990 EZ requires careful attention to detail. Here are the steps involved:

• Gather financial records: Collect all relevant financial documents, including income statements and balance sheets.
• Fill out the form: Begin with the organization’s basic information, followed by financial data, including revenue, expenses, and net assets.
• Detail program services: Describe the organization’s primary activities and how they align with its mission.
• Review and verify: Double-check all entries for accuracy to avoid potential issues with the IRS.
• Sign and date: Ensure that the form is signed by an authorized individual within the organization.

Legal use of the IRS Form 990 EZ

The IRS Form 990 EZ is a legally mandated document for eligible tax-exempt organizations. It must be filed annually with the IRS to maintain tax-exempt status. Failure to file this form can result in penalties, including the loss of tax-exempt status. Organizations should also be aware that the information contained in the form is public and can be accessed by donors, grant-making institutions, and the general public. Therefore, accuracy and transparency in reporting are crucial.

Filing Deadlines / Important Dates

The filing deadline for the IRS Form 990 EZ is typically the fifteenth day of the fifth month after the end of the organization's fiscal year. For organizations operating on a calendar year, this means the form is due by May fifteenth. If the deadline falls on a weekend or holiday, organizations may file on the next business day. Organizations can apply for a six-month extension by submitting Form 8868, but this extension only applies to the filing deadline, not the payment of any taxes owed.

Form Submission Methods (Online / Mail / In-Person)

The IRS Form 990 EZ can be submitted through various methods. Organizations have the option to file electronically using the IRS e-file system, which is often the fastest and most efficient method. Alternatively, organizations may choose to mail a paper copy of the form to the appropriate IRS address, based on their location. In-person submission is generally not available for this form, as the IRS encourages electronic filing to streamline the process and reduce processing times.