Question 1

&#x2705; My organization has 4 subordinate organizations. Can I file a Form 990 group return?

Accepted Answer

You can file a group return using IRS Form 990 for all of your subordinate organizations that fall under a group exemption, provided that your subordinate organizations are read more

Question 2

&#x2705; My organization that files Form 990-EZ has acquired assets exceeding $500,000 this year. What to do now?

Accepted Answer

If your organization's end of the year total assets mentioned in Line 25, Column B, Part II of 990-EZ exceeds $500,000 or more for the current tax year, then you must file Form 990 instead of Form 990-EZ. read more

Question 3

&#x2705; How can I determine contributions from membership dues while filing Form 990-EZ?

Accepted Answer

An organization always offers the member benefits in return for the dues, which will not be considered as contributions. But charitable organizations are allowed to disregard some of the membership benefits and calculate it at the donor's contribution. read more

Question 4

&#x2705; What should be entered as Program Service Accomplishment in Form 990-EZ?

Accepted Answer

The program service accomplishment in the Form 990-EZ requires the organization to explain the charitable programs held by the organization. The organization has to describe the three largest programs held in terms of expenses during the tax year. read more

Question 5

&#x2705; Is my organization required to pay an excise tax while filing Form 990-EZ?

Accepted Answer

Yes, an organization filing Form 990-EZ may be required to pay an excise tax that is imposed on it during the tax year. read more

Question 6

&#x2705; What is investment income, and how must it be reported in Form 990-EZ?

Accepted Answer

Income earned in the form of interest payments, dividends, and capital gains through the sales of securities or assets is generally known as Investment income. read more

Question 7

&#x2705; How to report the benefits paid to members in Form 990-EZ?

Accepted Answer

Benefits are generally non-wage compensation provided by organizations for employees in addition to their normal wages or salaries. read more

Question 8

&#x2705; What are Fundraising events, and how to report them on Form 990-EZ?

Accepted Answer

To report contributions received from various fundraising events using the form-based filing, please go to Part I, line 6 of the revenue section. Please be aware, line 6 has several subcategories you will need to complete as well. read more

Question 9

&#x2705; What is a lobbying activity, and how to report them on Form 990-EZ?

Accepted Answer

Lobbying is generally any attempt made by individuals or private interest groups to influence the government’s decisions. The activities intended by nonprofits to influence foreign, national, state, or local legislation are called lobbying activities. read more

Question 10

&#x2705; How to enter information about loans on 990-EZ?

Accepted Answer

If your organization has lent money to any officer, director, trustee, or key employee, or if any such loans were made in a previous year and are still unpaid at the end of the tax year, then mark them as Yes in Part V, line 38a. read more

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