Review the instructions to Form 990/990-EZ, pages 2 and 3.
You can get the instructions online at:
http://www.irs.gov/pub/irs-pdf/i990-ez.pdf

In general, if you have gross receipts of less than $25,000
(i.e., total amounts received from all sources without
deduction of costs and expenses), then you are not required
to file either Form 990 or Form 990-EZ. However, you may
still want to file the applicable form if it satisfies any
state or local filing requirements you may have. It may
also have to be filed if the organization engages in certain
types of transactions or must make certain types of tax
elections.

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gwehrenb[at]bellsouth.net wrote:

- quote -

The IRS requires organizations that normally have more than
$25,000 in gross receipts to file a 990 (or 990-EZ if the
organization qualifies) each year. There may be different
rules for your state--you may be required to file a 990 or
990-EZ (or a comparable state form) with your state, even if
no federal return is required.

Note that the Pension Protection Act of 2006 now requires
organizations to file a short annual report with the IRS
each year if the organization does not file a 990 or 990-EZ.
This is a new requirement, and the IRS is still figuring
out how this is going to work--from what I've heard, there
is going to be a short online form to fill out. Failure to
file this form for three years in a row will result in
termination of the organization's tax exemption.

--Chris

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<gwehrenb[at]bellsouth.net> wrote:

- quote -

Sometimes the tail can wag the dog. While a non profit
organization may not meet the income requirements to be
required to file, there could be state laws that effectively
require it.

___________________________________
<<< Benjamin Yazersky, CPA [NJ & NY] > > -----> real address on hobokeni or hobokenx <-----

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wehrenb[at]bellsouth.net wrote:

- quote -

You can read the instructions for Form 990EZ on the IRS
website, http://www.irs.gov

However, if your gross receipts are normally less than
$25,000 you need not file. If gross receipts are less than
$100,000 and total assets at the end of the year are less
than $250,000 you file 990EZ. Over that, file 990.

Some organizations elect to file anyway, because that starts
the statute running, keeps the IRS from asking you why you
did not file and provides financial information to donors.

Crystal

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- quote -

The requirement for filing a 990/990EZ is $25,000 of
contributions. But that includes everything, not just cash
that flows thru your account. For example, a food pantry
would include the value of donated food, grants that show up
as credits at the food bank, etc. And of course be sure to
check your state rules.

Also starting in 2008 there is a new requirement to file a
federal information return no matter how small your
donations are.
http://www.irs.gov/charities/article...161145,00.html

The IRS folks at the exempt organization unit in Odgen are
actually very helpful. 1-877-829-5500.

--
Don EA in Upstate NY

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gwehrenb[at]bellsouth.net wrote:

- quote -

It's explained in the instructions for the 990EZ, but if
your gross income is less than $25K, you don't have to file
unless you receive a card from the IRS.

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<gwehrenb[at]bellsouth.net> wrote:

- quote -

Until very recently if under $25,000 you didn't have to
file.

But you can file.

For 50,000 - 100,000 you can generally use the 990EZ.

Effective 1/1/07 (unless it's 06) you have to file without
any figures, just to show you really exist and have an
address etc.

__
Art Kamlet ArtKamlet [at] AOL.com Columbus OH K2PZH

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I have recently become treasurer of a 501c3 organization.
No more than $10,000 flows thru our account in a year. The
previous treas., a CPA, tells me he hasn't filed a 990ez
since 2003 when the org was formed.

In a previous treasurership position, I was told to file
one, regardless of our income or expenses.

What exactly are the rules, please. Thank you.

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