There are a number of nonprofit and tax exempt organizations that qualify for exemption which means that the organization needs to file the IRS 990 Form. These organizations include schools, hospitals, churches, political organizations, charities, sports clubs, and parent teacher associations. other organizations include public libraries, cultural organizations, veterans of foreign wars, animal rescues, fire fighters, conservation easements, employee associations, and fundraisers.
After start a tax exempt or charitable organization you need to apply for exemption of status under Section 501(c)(3). these organizations described in section 501(c)(3), outside of organizations testing for public safety, are eligible to receive tax-deductible contributions in accordance with code section 170. religious, charitable, scientific, public safety, literary, or educational organizations can file form 1023.
If the organization has gross receipts normally equal to or less than $50,000, it needs to e-file Form 990-N (e-Postcard). if they have gross receipts less than $200,000, and total assets less than $500,000, they can e-file Form 990-EZ. for organizations with gross receipts greater than or equal to $200,000, or total assets greater than or equal to $500,000, they can e-file form 990. private foundations can file Form 990-PF. some IRS 990 Form series returns come with a set of schedules that will need to be completed.
Market Leaders For IRS 990 Series
Who Can Apply for Tax Exemption Status?
Nonprofit organizations such as educational institutions, churches, hospitals, private foundations, political organizations can apply for tax exemption status.Learn More
Annual Tax Exempt Information Returns
Every exempt and nonprofit organization must file their annual tax information returns to IRS for every tax year to maintain their tax exemption status using the IRS 990 Form.Learn More