More nonprofits can file the easy Form 990N

02/03/2011 by 1 Comment

2009 Form 990

Many homeschool organizations that have tax exempt status are small enough they do not have to file any tax forms with the IRS. And now new IRS guidelines mean even more groups are free from IRS filing requirements!

Small exempt organizations can file the simple Form 990-N, the electronic postcard, instead of the longer Form 990-EZ or  Form 990.

For tax years beginning on or after January 1, 2010, exempt organizations may file the e-Postcard if their annual gross receipts were not more than $50,000.  The previous filing threshold was annual gross receipts of no more than $25,000. Gross receipts include every dollar your organization brings in, even if it goes out immediately too.

The e-Postcard is an electronic notice filed at https://epostcard.form990.org.

Need help determining your gross receipts? Send me an email and we can arrange a private consultation over the phone. Email me here.

If your tax exempt homeschool organization needs help filing their Form 990EZ or Form 990, I can help. Read more here.

Would your homeschool group benefit from being tax exempt? Find out by reading my articles on the pros and cons of tax exempt status.

Carol Topp, CPA

Related posts:

  1. IRS starts revoking tax exempt status May 17
  2. Can a small group be an IRS qualified charity?
  3. Small homeschool groups receives official IRS Letter without 501c3 status
  4. New EIN for New Officers?
  5. Audits for small nonprofits are rarely needed
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Comments

  1. Mark says
    02/21/2011 at 4:46 am

    Good summary of the rule change. Although, homeschool organizations need counsel with a CPA to determine different factors that go into non-profit compliance. I am a CPA in GA and find that many organizations are borderline with regards to compliance regulations and filing status.

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