Write-Offs

August 20, 2009 | Read Time: 1 minute

The Internal Revenue Service has released the fourth in a series of tip sheets to help nonprofit organizations prepare their Form 990 informational tax return. The new tips focus on information the IRS seeks about arrangements a charity has with related organizations. The tips are available at http://www.irs.gov/charities/article/0,, id=208553,00.html.
The IRS has issued rules that explain how organizations must file tax returns if their annual gross receipts are usually $25,000 or less. Last year, the IRS released its Form 990-N, a new tax document required of groups with annual gross receipts of $25,000 or less. In the past, only groups that earned more than $25,000 yearly had to file returns with the IRS, but the Pension Protection Act of 2006 requires all groups to file. To read the rules, go to http://edocket.access.gpo.gov/2009/pdf/E9-17478.pdf.