2013-2025 Form

What is the 990 Ez Form

The 990 Ez Form is a simplified version of the IRS Form 990, designed for smaller tax-exempt organizations, including charities and non-profits. This form allows these organizations to report their financial information, activities, and governance practices to the IRS. The 990 Ez Form is specifically tailored for organizations with gross receipts of less than two hundred fifty thousand dollars and total assets under five hundred thousand dollars, making it easier for them to comply with federal tax regulations.

How to use the 990 Ez Form

Using the 990 Ez Form involves several key steps. First, organizations must gather their financial records, including income statements, balance sheets, and details of their programs. Next, they should complete the form accurately, ensuring that all required sections are filled out, such as revenue, expenses, and net assets. Once completed, the form must be signed by an authorized individual, typically an officer or director of the organization. Finally, the form should be submitted to the IRS by the appropriate deadline, typically the fifteenth day of the fifth month after the end of the organization’s fiscal year.

Steps to complete the 990 Ez Form

Completing the 990 Ez Form involves a series of organized steps:

• Gather financial records, including income and expense statements.
• Fill out the form, starting with basic organizational information.
• Report revenue and expenses accurately in the designated sections.
• Provide information about the organization’s programs and activities.
• Ensure all required signatures are obtained.
• Review the form for accuracy before submission.

Legal use of the 990 Ez Form

The 990 Ez Form is legally binding when completed and submitted according to IRS guidelines. Organizations must ensure that the information provided is truthful and accurate, as any discrepancies can result in penalties or loss of tax-exempt status. Compliance with federal regulations is crucial, and organizations should keep detailed records to support the information reported on the form. Additionally, understanding the legal implications of the data submitted can help organizations maintain their standing with the IRS.

Filing Deadlines / Important Dates

Filing deadlines for the 990 Ez Form are critical for maintaining compliance. Generally, the form must be filed by the fifteenth day of the fifth month following the end of the organization’s fiscal year. For organizations with a fiscal year ending December 31, the deadline is May 15. If the deadline falls on a weekend or holiday, the due date is extended to the next business day. Organizations can request an extension, but this must be done before the original deadline.

Required Documents

To complete the 990 Ez Form, organizations need to prepare several key documents:

• Financial statements, including income and balance sheets.
• Records of contributions and grants received.
• Details of program services and activities.
• Information about board members and key staff.
• Any additional documentation that supports the financial data reported.

Examples of using the 990 Ez Form

Organizations use the 990 Ez Form in various scenarios, such as:

• Small charities reporting their annual financial activities to maintain tax-exempt status.
• Non-profits applying for grants that require proof of financial accountability.
• Foundations needing to disclose their financial operations to stakeholders.