New IRS Form 990 Filing Requirement

The following is not legal nor accounting advice or counsel. Please consult with your legal counsel and/or tax professional for your specific circumstances and take appropriate action.

There is a new IRS requirement for every non-profit entity claiming federal tax exempt status to file a federal form 990. This is the annual
tax return for tax-exempt entities. Even if your entity may not have been required to file a Form 990 in the past, all tax-exempt entities are now required to file the 990.

Many if not most clubs, yudanshakais, & state gov. bodies claiming federal tax-exempt status have been filing an annual 990 return with IRS or applicable state income tax return for exempt entities.

We have been told that it is possible to "e-file" the Form 990 tax return. Please check with the IRS to confirm this.

Failure of any taxpayer organizations previously exempt from the annual return filing requirement due to their annual gross receipts (not gross
income or taxable income) being below $25,000, risk loss of their federal tax exempt status if they fail to satisfy this new filing

Here\’s a link to the charities section of the IRS website:

If you have questions or concerns, please consult with your legal counsel and/or tax professional.