Tuesday, October 22, 2013

IRS Form 990/990EZ/990-N (e-postcard) Due on November 15

Tax-exempt PTAs are required to file an annual report with the IRS. The report for the fiscal year must be filed by the November 15 following the end of your fiscal year.  The form that is used to file the return (990-N, 990EZ, or 990) is determined by your PTA’s “normal” total income.  To determine your PTA’s “normal” income for purposes of the fiscal year 2012-2013 return, average in the previous two years’ income with the income your PTA received during the 2012-2013 fiscal year (July 1-June 30).  When determining which IRS tax return to file, deduct the membership service fees sent to a council or WSPTA from total income, and report total income in the same manner when completing the return. More information is in WSPTA Money Matters located on your Leadership Packet USB drive or online (password and user name required and is located on the cover pages of each of the leadership packet handbooks). If you have additional questions, please email tvasbinder@wastatepta.org.