Schedule A Form 990-Ez

Schedule A Form 990-Ez

As a nonprofit organization, it is essential to file your tax returns accurately and on time. One of the most critical forms you need to submit is the Schedule A Form 990-EZ. In this article, we will provide a comprehensive guide to help you understand Schedule A Form 990-EZ.

What is Schedule A Form 990-EZ?

Schedule A Form 990-EZ is a supplemental form that nonprofit organizations use to report information about tax-exempt status, public charity status, and other details required by the IRS. It is attached to Form 990-EZ, which is the annual return required to be filed by most tax-exempt organizations.

Why is Schedule A Form 990-EZ important?

Filing Schedule A Form 990-EZ is crucial for nonprofit organizations because it provides the IRS with essential information about the organization’s activities and helps determine its tax-exempt status. Failure to file the form accurately and on time can result in penalties and even revocation of tax-exempt status.

What are the requirements for filing Schedule A Form 990-EZ?

Nonprofit organizations that file Form 990-EZ and have public charity status must complete and attach Schedule A Form 990-EZ to their tax returns. The form requires information such as the organization’s mission, program services, compensation of officers, and fundraising activities.

How to fill out Schedule A Form 990-EZ?

Here is a step-by-step guide to filling out Schedule A Form 990-EZ:

Step 1: Provide basic information

Enter the name of the organization, EIN, tax year, and mailing address.

Step 2: Determine the organization’s public charity status

Answer the questions to determine whether the organization is a public charity or a private foundation.

Step 3: Provide information about the organization’s activities

Provide details about the organization’s mission, program services, and accomplishments during the year.

Step 4: Report compensation of officers

Provide information about the compensation and other payments to officers, directors, trustees, key employees, and highest compensated employees.

Step 5: Report fundraising activities

Provide information about the organization’s fundraising activities, including the amount raised and how the funds were used.

Step 6: Complete the public support test

If the organization is a public charity, it must pass the public support test to maintain its tax-exempt status. This requires providing information about the organization’s sources of support and calculating the percentage of support from the public.

Step 7: Sign and date the form

The form must be signed and dated by an authorized individual.

Schedule A Form 990-EZ Table

Here is a table that summarizes the information required in Schedule A Form 990-EZ:

Section Information Required
Part I Identification of the organization
Part II Public charity status and support
Part III Mission and program service accomplishments
Part IV Revenue, expenses, and changes in net assets or fund balances
Part V Officers, directors, trustees, key employees, and highest compensated employees
Part VI Other information

Events and Competition of Schedule A Form 990-EZ

There are no specific events or competitions related to Schedule A Form 990-EZ. However, nonprofit organizations must file the form accurately and on time to maintain their tax-exempt status and avoid penalties.

Question and Answer

Q: When is the deadline for filing Schedule A Form 990-EZ?

A: The deadline for filing Schedule A Form 990-EZ is the same as the deadline for filing Form 990-EZ, which is the 15th day of the 5th month following the end of the tax year.

Q: What is the penalty for not filing Schedule A Form 990-EZ?

A: The penalty for not filing Schedule A Form 990-EZ is $20 per day, up to a maximum of $10,000 or 5% of the organization’s gross receipts, whichever is less.

FAQs

Q: Do all nonprofit organizations have to file Schedule A Form 990-EZ?

A: No, only nonprofit organizations that file Form 990-EZ and have public charity status must file Schedule A Form 990-EZ.

Q: What happens if a nonprofit organization fails to pass the public support test?

A: If a nonprofit organization fails to pass the public support test, it may lose its tax-exempt status and be subject to tax on its income.

By following this guide, you can ensure that your nonprofit organization files Schedule A Form 990-EZ accurately and on time. Remember that accurate and timely filing is crucial to maintaining your tax-exempt status and avoiding penalties.

Fillable Schedule A (Form 990 Or 990Ez) Public Charity Status And
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