IRS 990/990EZ and 990-N (e-postcard) Forms Due November 15

Tax-exempt PTAs are required to file an annual report with the IRS. This is only an information return; it is not a tax return. 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 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.   For the July 1, 2012 – June 30, 2013 fiscal year: 990-N (E-postcard) is to be filed if the PTA’s “normal” total income is less than $50,000.   The 990-N must be filed electronically by going to http://epostcard.form990.org/. If you aren’t sure whether your PTA’s 990-N (e-postcard) has been filed you can conduct a search by going to http://www.irs.gov/app/ePostcard. When the 990-N is filed electronically, the system generates a document acknowledging the filing, and that should be printed and a copy kept in the financial records. 990EZ is to be filed if the PTA’s income is $50,000 or more. 990 is filed if the PTA has a total income of more than $200,000 during the 2012-2013 fiscal year. Failure to file a 990N/990/990 EZ form on time may result in penalties of up to $20 per day, up to $10,000 or 5% of the PTA’s annual total income, whichever is less. Regardless of which form is to be filed, the PTA’s return for the 2012-2013 fiscal year is due no later than November 15, 2013.  Each PTA should be sure to file an annual report every single year to avoid having its tax-exempt status revoked by the IRS. If you have any questions related to filing your IRS 990 form, please email tvasbinder@wastatepta.org.