2010-2025 Form

What is the Form 990 Ez Schedule G

The Form 990 Ez Schedule G is a crucial document used by certain tax-exempt organizations in the United States to report compensation paid to their highest-paid employees and contractors. This schedule is a part of the larger Form 990, which is an annual information return that provides the IRS and the public with financial information about the organization. The Schedule G specifically focuses on the compensation details, ensuring transparency and accountability in how these organizations manage their funds.

How to use the Form 990 Ez Schedule G

Using the Form 990 Ez Schedule G involves accurately reporting compensation information. Organizations must fill out this schedule if they meet specific criteria, including having total revenue of less than $200,000 and total assets of less than $500,000. The form requires detailed entries about the highest-paid individuals, including their names, titles, and the amounts they were compensated. This information should be cross-referenced with the organization's financial records to ensure accuracy.

Steps to complete the Form 990 Ez Schedule G

Completing the Form 990 Ez Schedule G involves several steps:

• Gather necessary financial records, including compensation data for employees and contractors.
• Identify the highest-paid individuals within the organization, ensuring that you include all required details.
• Fill out the schedule, providing accurate information about each individual’s compensation, including salary, bonuses, and other forms of payment.
• Review the completed schedule for accuracy and compliance with IRS guidelines.
• Attach the completed Schedule G to the main Form 990 before submission.

Legal use of the Form 990 Ez Schedule G

The legal use of the Form 990 Ez Schedule G is governed by IRS regulations. Organizations must ensure that the information provided is truthful and complete, as inaccuracies can lead to penalties. The form is considered a public document, meaning it can be accessed by the public, which emphasizes the need for transparency. Compliance with the legal requirements surrounding this form is essential to maintain the organization’s tax-exempt status.

Filing Deadlines / Important Dates

Filing deadlines for the Form 990 Ez Schedule G typically align with the organization’s fiscal year-end. Most organizations must file their Form 990, including Schedule G, by the 15th day of the fifth month after the end of their fiscal year. For example, if an organization’s fiscal year ends on December 31, the form would be due by May 15 of the following year. It is advisable to check for any changes in deadlines or extensions that may apply.

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

The Form 990 Ez Schedule G can be submitted using several methods. Organizations can file electronically through the IRS e-file system, which is often the quickest and most efficient method. Alternatively, organizations may choose to mail a paper copy of the form to the appropriate IRS address. In-person submission is generally not an option for this form. It is important to retain a copy of the submitted form for the organization’s records.