IRS Releases New Version of Form 990-EZ

The IRS announced today the release of an updated Form 990-EZ, Short Form Return of Organization Exempt From Income Tax, that will help tax-exempt organizations avoid common mistakes when filing their annual return.

The new version of Form 990-EZ includes 29 “help” icons describing key information needed to complete many of the fields within the form. The icons also provide links to additional helpful information available on These “pop-up” boxes share information to help small and mid-size exempt organizations avoid common mistakes when filling out the form and filing their return.

As a reminder, there are three different versions of Form 990 and virtually all nonprofit organizations (churches being a notable exception) are required to file the applicable version, depending on the organization’s assets and annual revenue.  Exempt organizations with less than $500,000 in assets and between $50,000 and $200,000 in annual receipts should file Form 990-EZ.  Smaller nonprofits with under $50,000 in annual revenue are eligible to file the shorter, simpler Form 990-N (also known as the e-postcard because it is filed electronically and takes a about as much time to complete as writing a postcard).

Also, don’t forget the deadline for filing Form 990 is the 15th day of the fifth month after an organization’s tax year end (i.e., May 15 for calendar-year organizations).  Not to end on a negative note, but also remember that an exempt organization neglecting to file Form 990 for three consecutive years automatically loses its tax-exempt status.  Mark your calendars!

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