990 Schedule A
Introduction
As a non-profit organization, filing taxes can be a daunting task. One of the forms that you may need to file is the 990 Schedule A, which is used to report information about the organization’s tax-exempt status. In this article, we will explore everything you need to know about 990 Schedule A in 2023.
My Personal Experience
As the treasurer of a local non-profit organization, I was responsible for filing our taxes. When I first heard about the 990 Schedule A, I was intimidated. However, after researching and understanding its purpose, I found that it was not as difficult as I thought it would be.
What is 990 Schedule A?
The 990 Schedule A is a form that non-profit organizations use to report their tax-exempt status. It provides the IRS with information about the organization’s mission, activities, and finances. This form is filed as an attachment to the Form 990 or 990-EZ.
List of Events or Competition of 990 Schedule A
There are no events or competitions related to 990 Schedule A.
Detail Schedule Guide for 990 Schedule A
The 990 Schedule A consists of several sections that require specific information about the organization. Here is a breakdown of each section: 1. Part I – Reason for Public Charity Status: This section requires information about the organization’s mission, activities, and sources of support. 2. Part II – Support Schedule: This section requires information about the organization’s sources of support, including contributions, grants, and government funding. 3. Part III – Supplemental Information: This section requires information about the organization’s governance, management, and policies.
Schedule Table for 990 Schedule A
Here is a sample schedule table for the 990 Schedule A: | Part | Title | Description | | — | — | — | | Part I | Reason for Public Charity Status | Information about the organization’s mission, activities, and sources of support. | | Part II | Support Schedule | Information about the organization’s sources of support, including contributions, grants, and government funding. | | Part III | Supplemental Information | Information about the organization’s governance, management, and policies. |
Question and Answer
Q: Who needs to file 990 Schedule A?
A: Non-profit organizations that are recognized as tax-exempt by the IRS and have gross receipts of $50,000 or more in a year need to file 990 Schedule A. Q: What is the deadline for filing 990 Schedule A?
A: The deadline for filing 990 Schedule A is the same as the deadline for filing Form 990 or 990-EZ, which is the 15th day of the fifth month after the end of the organization’s fiscal year. Q: What happens if I don’t file 990 Schedule A?
A: Failure to file 990 Schedule A can result in penalties and the loss of tax-exempt status.
FAQs
Q: How do I fill out 990 Schedule A?
A: You can fill out 990 Schedule A using tax preparation software or by hiring a tax professional. Q: Can I file 990 Schedule A electronically?
A: Yes, you can file 990 Schedule A electronically using the IRS’s e-file system. Q: Do I need to file 990 Schedule A if my organization has gross receipts of less than $50,000?
A: No, if your organization has gross receipts of less than $50,000 in a year, you do not need to file 990 Schedule A. However, you may still need to file Form 990-N, also known as the e-Postcard.
