Form 990 news Archives - Tax2efile Blog

The requirement to E-File IRS Form 990 or Form 990-EZ

April 17, 2023

Most tax-exempt organizations are required by the Internal Revenue Service (IRS) to submit an annual information return, either e-file Form 990 or Form 990-EZ, based on their size and type. If an organization has total assets over $500,000 or gross receipts exceeding $200,000 annually, it should file a Form 990. However, if its revenues don’t exceed $200K or assets are under $500K, it could opt to file form 990-EZ instead of form 990. Some entities, like churches,...

Everything Your Nonprofit Needs to Know About the Form 990 Balance Sheet

May 5, 2022

Not-for-profit organizations generally stay tax-exempt but still have to file Form 990 to let the IRS know the way they use their donations and resources to stay exempted from tax. The Form 990 balance sheet statements testify to their financial position and are essential to substantiate the transparency of the Nonprofit business. This form is made public to make it easy for donors and other people interested in supporting the cause to evaluate the organization before supporting...

What You Need To Know About IRS Form 990 Filing Requirements for Charities

April 21, 2021

Though organizations fall under exemption of federal tax payment, they are responsible for reporting their IRS activities annually. The IRC has all the necessary details required by the IRS. Organizations that utilize form 990 fall under exemption of tax categories mentioned in section 527, section 501(c), and section 4947(a) of IRC. The organizations are categorized and fall under non-exempt charitable trust or political organization and charitable organizations. Private organizations do not have to follow form 990 as...