Filing for 501c Society?

501c Society (NY incorporated) has only "income" from member contributions and donations from companies to hold meetings for members and guests scientific seminars. Received a 1099 Misc from one donor company. Need to file taxes? What form(s)?

-- Best regards Han email address is invalid

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Han
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Form 990, if the 501(c ) entity has over $25,000 of gross receipts. Actually there's a scale based on how long the organization has been in existence.

-- Tom Healy, CPA Boulder, CO Web:

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Thomas Healy

"Han" wrote

Maybe, maybe not. Depending on the type of non-profit (some have exceptions), if receipts are over $25,000 then you ~must~ file a return.

Form 990 series. With the schedules it can be a thick form (see if you qualify for the 990-EZ).

-- Paul A. Thomas, CPA Athens, Georgia taxman at negia.net

Reply to
Paul A Thomas

If you have less than $25,000 of income or expenses, you can ignore the filing altogether. But if the IRS sends you a pre-printed form 990 or 990-EZ, just check the Under 25000 box, and return it. Depending on what type of 501 you are, you might have additional schedules if you do have a filing requirement. __ Art Kamlet ArtKamlet @ AOL.com Columbus OH K2PZH

Reply to
Arthur Kamlet

Has the organization applied for IRS recognition of its exemption? In addition to the 1099 it received, money and property rec'd from members also constitute gross receipts (income) to determine if it must apply for recognition and file returns. Generally, annual receipts over $5,000 require that the organization apply to IRS for recognition. See their Publication 557, available at

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Fred F.

Reply to
TaxSrv

"TaxSrv" wrote in news:1139usio2fret40

Thanks, that's is happening right now. It's going slowly, but I have been pushing it for a while now. Rumors are that it is going to be expensive ...

-- Best regards Han email address is invalid

Reply to
Han

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