Form 990 - Return of Organization Exempt From Income Tax
Nonprofits are corporations formed for a charitable, civic, or artistic purpose. Nonprofits are generally exempt from federal and state taxation on their income, and so they are often called "exempt organizations." Nonprofits have substantial responsibilities for reporting their activities, income, and assets to ensure that they are in compliance with federal and state laws governing charities.
Each year, nonprofit organizations must file Form 990 with the IRS to maintain tax-exempt status. According to the IRS Web site:
- Small tax-exempt organizations with annual receipts of $25,000 or less can file an electronic notice Form 990-N (e-Postcard). If your organization qualifies, click here to file Form 990 electronically.
- Tax-exempts with annual receipts above $25,000 must file a Form 990 or 990-EZ, depending on their annual receipts. Private foundations file form 990-PF.
Form 990 and its variants are not supported in TurboTax. For additional information on Form 990, see:
- Instructions for Form 990, Return of Organization Exempt From Income Tax
- Return of Organization Exempt From Income Tax