The world of tax forms can be confusing for Parent Teacher Organizations (PTOs) and Associations (PTAs). Let’s shed a little light on which form 990 to file.
Why File a Form 990?
The IRS sets certain rules that tax-exempt organizations, like PTOs and PTAs, must follow to keep their tax-exempt status. One of these requirements is annual reporting. Even though you’re a tax-exempt nonprofit, you still have a responsibility to report your financial activity. This is where IRS Form 990 comes in.
Which Form 990 is Right for PTOs and PTAs?
The specific Form 990 your parent group needs depends on your organization’s financial activity. This is mainly based on your gross receipts (income) and total assets. Here’s a breakdown for PTOs and PTAs:
- Gross receipts normally less than or equal to $50,000 | If your PTO or PTA typically brings in $50,000 or less annually, you can file Form 990-N, also known as the e-Postcard.
- Gross receipts normally less than $200,000 AND total assets less than $500,000 | If your income is above $50,000 but falls under $200,000 per year and your total assets are less than $500,000, then you’ll likely need to file Form 90-EZ.
How is the Form 990 Filed?
Need More Help?
Filing anything with the IRS can be daunting. But you don’t have to go it alone! Download our free PTO and PTA Tax Guide for more information on Form 990 to keep your group in good financial standing.
- understanding tax exemption
- all about form 990
- when to file
- what to do if you miss the deadline
- other helpful resources
Both the 990-N e-Postcard and the 990-EZ must be filed electronically. You can do so through an IRS Authorized e-File Provider such as MoneyMinder.
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