The Internal Revenue Service COMPLETELY revised Form 990 for 2008 (tax years beginning in 2008 and filed in 2009) and later year. The new Form 990 consists of an 11 page CORE form that must be completed by each Form 990 filer. In addition, 16 schedules were added to the CORE form that are designed to report information only from those organizations that conduct certain activities.
Phase-in of Filing Requirement for Small Organizations.
To address transition concerns, the new Form 990 is being phased in over a three-year period. This is being accomplished by increasing the filing thresholds for Form 990-EZ to allow smaller organizations the option to file either the new Form 990 or Form 990-EZ for the 2008 and 2009 tax years. For those years, an organization may opt to file a Form 990-EZ if it satisfies BOTH the Gross Receipts and Assets tests in the table below.
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May File Form 990-EZ for: |
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If Gross Receipts are: |
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AND if Assets are: |
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2008 tax year (filed in 2009) |
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Greater than $25,000 and less than $1 million |
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Less than $2.5 million |
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2009 tax year (filed in 2010) |
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Greater than $25,000 and less than $500,000 |
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Less than $1.25 million |
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2010 and later tax years |
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Greater than $50,000 and less than $200,000 |
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Less than $500,000 |
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Organizations That Filed Form 990 for 2007 that Wish to File Form 990-EZ for 2008. Organizations that used the 2007 version of our 990calc software to prepare their 2007 Form 990 that wish to file Form 990-EZ for 2008 should download the 2008 version of our 990EZcalc software. The 2008 version of 990EZcalc has the ability to "roll-over" data from the 2007 vesion of either our 990calc OR 990EZcalc software.
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