Nonprofit, tax-exempt 501(c)(3) organizations that are required to file the annual informational tax return called the Form 990 will, starting in 2009, find themselves facing a new version of the form (as they report on their year 2008 activities). Learning about the new Form 990 now will help your 501(c)(3) nonprofit start gathering the necessary information to successfully and easily file the return.
It used to be that small nonprofits didn’t have to make any annual tax filings with the IRS. However, the IRS introduced a new form in 2008—Form 990-N, Electronic Notice (e-Postcard) for Tax-Exempt Organizations not Required To File Form 990 or 990-EZ. Beginning in tax year 2007, all nonprofits with
Nonprofits don’t pay income taxes like for-profit businesses do, and they don’t file tax returns like businesses either. However, that doesn’t mean they don’t have IRS tax filings to deal with. Subject to some important exceptions, tax-exempt organizations are required to file an annual information