What is Form 990?
Form 990 is an important document that tax-exempt organizations, like charities, must file with the IRS. Its main purpose is to provide transparency about an organization’s finances, including income, expenses, and activities. By filing this form, organizations demonstrate accountability to the public and the government. It helps ensure that funds are used appropriately and supports informed decisions by donors and policymakers. Understanding and completing Form 990 is essential for maintaining tax-exempt status and building trust within the community.
What is Form 990 used for?
Form 990 is used by tax-exempt organizations to report their financial information. It serves several purposes:
- to provide transparency about financial activities.
- to inform the IRS about revenue and expenses.
- to help the public assess the organization’s financial health.
- to maintain tax-exempt status.
How to fill out Form 990?
- 1
Review the instructions for Form 990 on the IRS website to ensure you understand the requirements.
- 2
Fill out the organization’s name, address, and Employer Identification Number (EIN) in the designated fields.
- 3
Complete all necessary schedules based on your organization’s activities and financials.
- 4
Double-check all entries for accuracy and completeness.
- 5
Sign the form electronically in the signature section, if applicable.
- 6
Save the completed form for your records.
Who is required to fill out Form 990?
Organizations like charities, foundations, and non-profits must complete Form 990 for tax reporting purposes. This ensures compliance with IRS regulations.
After submission, the IRS, state agencies, and the public can access this information to verify the organization’s financial health and tax-exempt status.
When is Form 990 not required?
Certain organizations do not need to file Form 990. For example, small tax-exempt organizations with gross receipts under $50,000 generally can file Form 990-N, a simpler online notification. Additionally, churches and certain religious organizations are exempt from this requirement altogether. Private foundations also have different filing obligations that do not include Form 990. Always check with the IRS for the latest rules.
When is Form 990 due?
The deadline for Form 990, Return of Organization Exempt from Income Tax, is the 15th day of the 5th month after the end of your organization's accounting period. For example, if your fiscal year ends on December 31, the form is due on May 15 of the following year.
If you need more time, you can file Form 8868 to request a 6-month extension. However, keep in mind that this extension is only for filing the form, not for paying any taxes owed.
How to get a blank Form 990?
To get a blank Form 990, Return of Organization Exempt from Income Tax, simply visit our platform. The form is pre-loaded in our editor, allowing you to fill it out directly without needing to download it from another source.
How to sign Form 990 online?
To sign Form 990 using PDF Guru, first, open the blank version of the form in the PDF editor by clicking "Fill Form." Complete all necessary fields with accurate information. When you're ready to sign, you can create a simple electronic signature within the platform.
After signing, click "Done" to download the completed form. Remember to consult official IRS guidelines for specific signature requirements to ensure compliance with regulations.
Where to file Form 990?
Form 990 can be filed online using the IRS e-file system or by mail. Filing online is typically faster and may ensure accuracy.
If filing by mail, send the completed form to the address specified in the instructions. Always keep a copy for your records.
