The IRS Audit Blog

Posts Tagged ‘990’

Question: Employer showed additional $40,000 in income, which i did not earn.?

I worked for the employer and initially earned $13,000 and i received the W-2 form for the income and i filed the taxes for $13,000. Received letter from the IRS that the employer showed addition income for fishing income $12,790, another income $12,790, rental loyalty $13,990.
I don’t understand the additional income showed by the employer and how can is dispute. ( The employer never gave me any document regrading the addition income shown on the IRS). I NEVER RECEIVED THE ADDITIONAL INCOME SHOWN IN THE IRS DOCUMENTS BY THE EMPLOYER

Answer: Go to the Human Resources Department of the company where you work. They can help explain what is going on. Also, call the person who does your taxes. You don’t by chance work on a boat? Are you sure somebody else isn’t using your Social Security Number? Identity theft can cause strange things to happen with your taxes. Call the IRS to see if anybody worked for a different company using your SSN.

Yakshna Solutions, Inc. Adds More IRS Forms to its Tax Product Series to Help Tax Payers to E-file their Returns and …

Tax2efile is an exclusive tax e-file service from Yakshna Solutions, Inc. Tax2efile provides e-file service to individuals, business and non-profit organizations to complete the actual tax returns and extensions timely, accurately to avoid interest and penalties. Tax2efile helps to file IRS extension forms 4868, 8868,7004 to defer the actual returns, in some cases to defer the payments for 6 …

Association Form 990 Database Demo

Question: If we just got approval from IRS to be a 501c3 (non profit) in 2010, do we need to file form 990 for 2009?

I’m trying to figure out if we need to file an extension for the 990 form (non profit) for tax year 2009.
We’re a small non profit organization operating in Georgia since 2004 but with less than 25k year “income” (donations) but we just got our 501c3 approved in March 2010. Please help!!! Today is the last day to file the extension….Thanks!!!

Answer: There wouldn’t be any harm in filing it, so why take the chance?

Ther would be harm if you were supposed to but didn’t.

FILE IT!

Is there such a thing as an extention for the 990?

Can you file the 990-N online?

Check out this web site for some info:

http://nonprofit.about.com/od/nonprofitbasics/tp/Form-990.htm

Special to the Daily Herald

DALLAS — The Internal Revenue Service has released final guidance for small employers eligible to claim the new small business health care tax credit for the 2010 tax year. Included in the release is a one-page form and instructions small employers will use to claim the credit for the 2010 tax year.

Charity Registration

Question: In California what would it cost to prepare an ‘08 Form 990-EZ?

Just taking the numbers off the trial balance and putting them onto the right lines and making everything balance? This is for fiscal 08/09 so the deadline is 11/15/09. We are looking for an EA or CPA. Probably should mention the cost for the state return too.
Could someone give me a guesstimate please? Ballpark is fine.
Is the IRS estimate of 15 hours to prepare and assemble a reasonable time frame? (Seems pretty long to me.)
Thanks Judy, but I was looking for a hard number or at least a range that it might cost. Does anyone do and charge for preparation of the 990-EZ Not for Profit Corporation return?

Answer: I think the other responder who says 20 minutes is thinking of a 1040-EZ and has probably never been involved with a 990, EZ or otherwise.

I’ve done all versions of 1040, 990, and 990-EZ this year since who can file one rather than the full 990 has changed for a couple years. A fairly straightforward 990-EZ, when I’d done the 990’s for that organization for several years, probably took somewhere in that 15 hour vicinity, maybe a little less.

So getting it done won’t be cheap, unless you can find an EA or CPA who is interested in your non-profit and cuts you a break on cost.

IRS Steps Up Scrutiny of Nonprofits

The Internal Revenue Service says it plans greater scrutiny of a wide range of charity activities in the next year, including loans nonprofits make to top officials and whether they paid sufficient employment taxes.

PART (2) 20 MILLION DOLLAR COVER-UP IN PRINCE GEORGE COUNTY IN MARYLAND

Question: can a non-for profit in mexico which files form 990 with the IRS issue US tax exempt receipts?

if we get a donation from the US, could we issue the donor a tax exempt receipt for his/her contribution?

Answer: Why is a Mexican non profit filing a 990? You can only deduct contributions to American charities. What is normally done is that an American non profit is formed to accept contributions and uses them to sponsor some charitable enterprise in Mexico (or Africa or Asia, wherever.) For example, I support an orphanage in Mexico by sending money to the American charity the sponsors it.

Chamber: Several county organizations at risk of losing their charitable status

Holley Urbanski, Altus Chamber of Commerce President recently heard from Christy Elkins, of the Oklahoma Department of Commerce. Both Elkins and Urbanski were surprised to find that many charitable…

501(c)(3) Compliance & Form 990 Preparation

Deadline Looming for Nonprofits To File Special Form With IRS

Nonprofits other than churches and church-related organizations have to file the form by Monday or risk losing their nonprofit status Nearly 2,300 New Mexico nonprofits must file a special form with the federal government by Monday or risk losing their nonprofit status. The Internal Revenue Service is publicizing . . .

IRS form 990 and what it means to your charitable giving plans