Get the free 2015 990ez form - irs

The 990EZ form is a tax form used by certain tax-exempt organizations to report information about their operations, finances, and funding. It is a simplified version of the longer and more complex 990 form. The 990EZ form is typically used by organizations with gross receipts less than $200,000 and total assets less than $500,000. It requires less detailed financial information compared to the 990 form but still provides transparency for the organization's activities. The form must be filed annually with the Internal Revenue Service (IRS) to maintain the organization's tax-exempt status.

Nonprofit organizations that have gross receipts less than $200,000 and total assets less than $500,000 at the end of the tax year are required to file Form 990EZ, which is a simplified version of the full Form 990.

Filling out a Form 990EZ requires some careful attention to detail. Here are the general steps to complete the form: 1. Obtain the necessary documents: Gather all the necessary financial statements and information about your organization's activities, including revenue and expenses. 2. Provide basic information: Complete the top of Form 990EZ, including the name of your organization, EIN (Employer Identification Number), address, and fiscal year. 3. Answer the questions: Go through each section of the form and answer the questions accordingly. Some of the main sections include: a. Part I: Revenue, Expenses, and Changes in Net Assets or Fund Balances: Provide detailed information about your organization's revenue, expenses, and any changes in net assets or fund balances. b. Part II: Balance Sheets: Complete the balance sheet section by listing your organization's assets, liabilities, and net assets/fund balances. c. Part III: Statement of Program Service Accomplishments: Describe your organization's mission and activities, including the programs and services it provides. d. Part IV: Checklist of Required Schedules: Check all applicable boxes to indicate if your organization needs to attach any additional schedules or forms. 4. Attach required schedules: Based on the checklist in Part IV, attach any necessary schedules or supporting documentation. These may include a summary of significant changes, supplemental financial information, compensation details for key employees, and more. 5. Review and sign: Thoroughly review the completed form for accuracy and make sure all required information is provided. Once you are satisfied, sign and date the form. 6. Submit the form: Mail the completed Form 990EZ to the appropriate IRS address by the due date. Alternatively, you can also electronically file the form using the IRS's online filing system, if eligible. It is important to note that these instructions provide a general overview, and the complexity and requirements may vary depending on your organization's specific situation. It is recommended to consult with a tax professional or refer to the IRS instructions for Form 990EZ (available on the IRS website) for more detailed guidance.

The purpose of the 990ez form is to provide a simplified version of the Internal Revenue Service (IRS) Form 990 for certain tax-exempt organizations. It is specifically designed for organizations with gross receipts less than $200,000 and total assets less than $500,000, which allows them to file a shorter and less complex version of Form 990. The form requires smaller tax-exempt organizations to provide basic information about their finances, activities, and governance, enabling the IRS and the public to evaluate their compliance with tax laws.

The information that must be reported on a 990EZ form includes the following: 1. Identification of the organization: This includes the organization's name, address, Employer Identification Number (EIN), and other basic information. 2. Revenue and expenses: The organization needs to report its total revenue and support, including grants, contributions, program service revenue, and investment income. It also needs to provide details on its expenses, including program expenses, administrative expenses, and fundraising expenses. 3. Balance sheet: The organization must report its assets, liabilities, and net assets or fund balances at the beginning and end of the tax year. 4. Activities and accomplishments: The organization needs to describe its mission or purpose and provide information on its programs, achievements, and accomplishments during the tax year. 5. Governance: The organization must report whether it is governed by a board, and if so, provide details about its board members and their compensation. 6. Compensation: The organization needs to report the compensation of its key employees and highest-paid independent contractors or consultants. 7. Public support: If the organization is a public charity, it needs to provide details on its sources of public support and report on any significant changes in its public support during the tax year. 8. Compliance with tax-exempt status: The organization must report whether it engaged in any activities that would constitute a significant departure from its tax-exempt purposes. 9. Related organizations: If the organization has any related organizations, it needs to provide information about those relationships and transactions between the organizations. Please note that this is not an exhaustive list and there may be additional information required depending on the specific circumstances of the organization. It is advisable to refer to the official instructions and guidelines provided by the Internal Revenue Service (IRS) to ensure accurate and complete reporting on the 990EZ form.

The deadline to file Form 990-EZ, also known as the Short Form Return of Organization Exempt from Income Tax, for the tax year 2022 is May 15, 2023. However, please note that tax deadlines can change, so it is always best to consult the latest information from the Internal Revenue Service (IRS) or a tax professional to ensure accuracy.

The penalty for the late filing of Form 990-EZ (a form used by certain tax-exempt organizations) is calculated based on the organization's gross receipts. If the organization's gross receipts are $1,000,000 or less, the penalty is $20 per day for each day the return is late, up to a maximum of $10,000 or 5% of the organization's gross receipts, whichever is less. If the organization's gross receipts exceed $1,000,000, the penalty is $100 per day, up to a maximum of $50,000. It's important to note that these penalties can be reduced or waived if the organization can show reasonable cause for their late filing.

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