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.
Although tax-exempt non-profit organizations do not pay federal taxes, most do have to complete and file an informational return with the IRS. It's called an informational return because it serves as an informational report for the IRS. This annual reporting return is called a Form 990. The form allows the IRS and the general public to evaluate a non-profit's operations. The non-profit's mission, programs, and finances are all included in this report.
However, not all non-profits have to file annual returns. Generally, the following organizations do not have to submit Form 990:
Most federally tax-exempt organizations (except for state institutions and religious organizations) file a 990 Form.
The IRS presents information to help you determine which form you need 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.