Update on the Changes in IRS Tax Law Applying to all AITP Chapters
Tuesday, April 08, 2008
Posted by: Eric Hawkinson
The IRS has finally updated their website with the new 990-EZ e-postcard information. This is the link to the website where the 990 N (e-Postcard) is filed http://epostcard.form990.org/. As a reminder, this affects all chapters and regions filing taxes with less than $25,000 in revenue. The e-Postcard is easy to complete, all you need is basic information about your chapter which is listed below.
Chapter and Region Leaders: This form MUST be filed by May 15.
* Organization's employer identification number (EIN) - Every organization must have an EIN, even if it does not have employees. The EIN is a unique number that identifies the organization to the Internal Revenue Service. Most organizations would have acquired an EIN by filing a Form SS-4 prior to requesting tax-exemption. If you do not know your EIN, you may be able to find it on the organization's bank statement.
* Organization's legal name - An organization's legal name is the organization's name as it appears in the certificate of incorporation or other document that was created when your organization formed or its name was officially changed.
* Any other names your organization uses - If the organization is known by or uses other names to refer to the organization as a whole (and not to its programs and activities); commonly referred to as Doing-Business-As (DBA) names, they should be listed.
* Organization's mailing address - The mailing address is the current mailing address used by the organization.
* Organization's website address (if you have one).
* Name and address of a principal officer of your organization - usually president, vice president, secretary, or treasurer - often specified in the organization's by-laws.
* Organization's annual tax year - Like any taxpayer, exempt organizations must keep books and reports and file returns based on an annual accounting period called a tax year. A tax year is usually 12 consecutive months that can be either calendar year or fiscal year and is often specified in the organization's by-laws.
* Confirmation that your organization's annual gross receipts are still normally $25,000 or less, and
* If applicable, a statement that your organization has terminated or is terminating (going out of business).
Chapters with over $25,000 in gross revenue will still need to file the appropriate tax forms. If you have any questions, or would like to discuss the new e-postcard further, please don't hesitate to contact AITP Headquarters at 800.224.9371.