990ez -- who must file?

Until very recently if under $25,000 you didn't have to file. But you can file.

For 50,000 - 100,000 you can generally use the 990EZ.

Effective 1/1/07 (unless it's 06) you have to file without any figures, just to show you really exist and have an address etc. __ Art Kamlet ArtKamlet @ AOL.com Columbus OH K2PZH

It's explained in the instructions for the 990EZ, but if your gross income is less than $25K, you don't have to file unless you receive a card from the IRS.

The requirement for filing a 990/990EZ is $25,000 of contributions. But that includes everything, not just cash that flows thru your account. For example, a food pantry would include the value of donated food, grants that show up as credits at the food bank, etc. And of course be sure to check your state rules. Also starting in 2008 there is a new requirement to file a federal information return no matter how small your donations are.

1145,00.html The IRS folks at the exempt organization unit in Odgen are actually very helpful. 1-877-829-5500.

-- Don EA in Upstate NY

Sometimes the tail can wag the dog. While a non profit organization may not meet the income requirements to be required to file, there could be state laws that effectively require it. ___________________________________

-----> real address on hobokeni or hobokenx

You can read the instructions for Form 990EZ on the IRS website,

However, if your gross receipts are normally less than $25,000 you need not file. If gross receipts are less than $100,000 and total assets at the end of the year are less than $250,000 you file 990EZ. Over that, file 990. Some organizations elect to file anyway, because that starts the statute running, keeps the IRS from asking you why you did not file and provides financial information to donors. Crystal

The IRS requires organizations that normally have more than $25,000 in gross receipts to file a 990 (or 990-EZ if the organization qualifies) each year. There may be different rules for your state--you may be required to file a 990 or

990-EZ (or a comparable state form) with your state, even if no federal return is required. Note that the Pension Protection Act of 2006 now requires organizations to file a short annual report with the IRS each year if the organization does not file a 990 or 990-EZ. This is a new requirement, and the IRS is still figuring out how this is going to work--from what I've heard, there is going to be a short online form to fill out. Failure to file this form for three years in a row will result in termination of the organization's tax exemption.

--Chris

Review the instructions to Form 990/990-EZ, pages 2 and 3. You can get the instructions online at:

In general, if you have gross receipts of less than $25,000 (i.e., total amounts received from all sources without deduction of costs and expenses), then you are not required to file either Form 990 or Form 990-EZ. However, you may still want to file the applicable form if it satisfies any state or local filing requirements you may have. It may also have to be filed if the organization engages in certain types of transactions or must make certain types of tax elections.