Non-profits are some of the hardest working and rewarding organizations in our country. While many of these organizations may enjoy tax-exempt status and believe that it absolves them of all oversight, most non-profit tax-exempt organizations are required to file annual tax returns with the IRS.
Even though most tax-exempt non-profit organizations do not pay federal taxes most do have to file an informational return with the IRS. This annual reporting return is called a Form 990. This form allows the IRS and the general public to evaluate a non-profit’s operations; it includes information on the non-profit’s mission, programs, and finances.
Not all non-profits have to file annual returns. Generally, the following do not have to file Form 990:
Most federally tax-exempt organizations (with state institutions and religious organizations excepted) file a 990 Form.
The IRS provides information to help you determine which form to file
Insogna CPA is happy to help your organization file your annual non-profit tax return. Your organization does enough hard work running day-to-day operations; let us help make taxes easier for you.