Hughey's Debits & Credits: Bookkeeping. Payroll. Taxes.

All posts tagged 990-n

Form 990You did it!  You’ve sent out your W-2s to employees and ready to relax, right? Not so fast!  Have you completed Form 990?  Not sure what that is? Keep reading.

Form 990 “Do I have to do this?”

Yes! Even though you aren’t required to file income tax returns, the IRS still wants to know about your organization. Form 990 gives the IRS access to information about your organization’s revenue and expenses, including program versus administrative expenses. All nonprofit organizations are required to submit a version of Form 990. It is also important to know that the year listed on the top right corner is the year that your fiscal year began not ended. For example, if you are reporting for July 1, 2014 – June 30, 2015, the Form 990 will say 2014. This is because the timeframe you are reporting begins in 2014. Read more