Monday, January 24, 2011

IRS Issues 990 Filing Threshholds for 2010 Tax Year

New IRS 990 Filing Thresholds for 2010 Tax Year

Do you know which Form 990-series return you are required to file for the 2010 tax year? The 990 filing thresholds for the year 2010 and later (filed in 2011 and later) will change as follows for all organizations required to file a 990-series return:
  • Organizations with gross receipts normally < $50,000 must file Form 990-N (but may choose to file a complete Form 990 or Form 990-EZ). In prior years only organizations with gross receipts normally < $25,000 could file the Form 990-N ("e-postcard").
  • Organizations with gross receipts > $50,000 and < $200,000 and total assets < $500,000 must file Form 990-EZ or a complete Form 990.
  • Organizations with gross receipts > $200,000 or total assets > $500,000 must file Form 990.
  • Private foundations must file Form 990-PF.
If you have a technical or procedural question relating to Exempt Organizations (EOs), visit the Charities and Nonprofits homepage on the IRS.gov Web site. If you have a specific question about exempt organizations, call EO Customer Account Services at 1-877-829-5500.

To subscribe to this IRS list serve please go the link below.
http://www.irs.gov/charities/article/0,,id=154837,00.html

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