Alabama PTA

  
Money Matters

Reminder to File a 990, 990EZ, or 990N Tax Form

990, 990EZ, or 990N Tax Form Types of Financial Statements, a description the most common formats: Compilations, Reviews and Audits. Read this PDF file for more on financial statements.

Don't Miss your Filing Date!

This is a reminder to file a 990, 990EZ, or 990N tax form for organizations with a tax-exempt status with the IRS. State PTAs and local units should take steps to file on time.

Go online for guidelines to determine if your PTA should file the 990, 990EZ, or 990N form. (www.irs.gov)

All PTAs with annual receipts greater than $1.0 million and total assets greater than $2.5 million must file a 990 form.

All PTAs with annual receipts less than $1.0 million and total assets less than $2.5 million must file a 990 or 990EZ form.

All PTAs with annual receipts $25,000 or less will have to file an Electronic Notice (e-Postcard) Form 990-N.

The IRS deadline for PTAs to file a 990 or 990EZ form is the 15th day of the 5th month following the organization’s fiscal year. For instance, a fiscal year ending June 30 must file by November 15.

PTAs’ 990s along with state PTAs’ audited financials are due in the PTA national office within 30 days of filing with the IRS. (Download the Policy for Continuing Affiliation with National PTA Guide.)

 

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Penalties for filing late or not filing is a penalty of $20 a day, not to exceed the smaller of $10,000 or 5% of the gross receipts of the organization for the year. Organizations with annual gross receipts exceeding $1 million are subject to a penalty of $100 a day. The penalty begins on the due date for filing the Form 990 or 990EZ.