Income Tax Preparation & Planning |
Not-For-Profit Tax ComplianceAn Organization’s IRS Form 990 annual return is a public document and a valuable resource for grantors and donors. It is also a key instrument that the IRS uses to monitor an exempt Organization’s activity. As it is often a first impression to many individuals familiarizing themselves with the organization it is important that this document put the exempt Organization's best foot forward. Which form an Organization must file generally depends on its financial activity, as indicated in the chart below.
An organization’s annual return must be filed by the 15th day of the 5th month after the end of your Organization’s accounting period. Tax-exempt organizations must make their last three annual informational returns and their approved application for recognition of exemption with all supporting documents available for public inspection. An exempt organization is also required to provide copies of these documents upon request without charge. Certain organizations, such as churches and other religious affiliated institutions are exempted from the annual return filing requirement but may choose to complete a return to provide a valuable benchmark to donors. For additional information about whether your organization is required to file you can download Publication 557, Tax-Exempt Status for Your Organization. An exempt organization will also have State filing requirements which must be met, which could include a requirement to file an RRF-1 with the State Attorney General's office. The RRF-1 is a disclosure reporting form for use by every public benefit corporation. The form is required annually to renew the organization's registration with the Attorney General's Registry of Charitable Trusts. Further information on the State Attorney General's filing requirements can be found on their website. http://ag.ca.gov/charities/ Contact Our Not-For-Profit Tax Professionals |
