IRS 990-EZ vs. Form 990-schedule K 2016-2024

All right, thank you for joining us today for the 990 Easy webinar. If you have questions, please feel free to post them in the chat. Throughout this webinar, we will take breaks to address your questions. Let's get started by reviewing how to file Form 990 Easy. My name is Nikita and I'm the product manager with Express Tax Exempt. I will be walking you through this presentation. The purpose of the 990 EZ form is to be used by organizations exempt from income tax, such as small tax-exempt organizations, charitable trusts, and 527 political organizations. To qualify for filing a 990 EZ short form, your organization must have gross receipts of less than $200,000 and total assets of less than $500,000 at the end of the year. The deadlines for filing the 990 EZ return are based on your organization's tax year. The form must be filed by the 15th day of the fifth month following the end of the tax year. For example, since May 15th falls on a Sunday this year, the deadline is actually May 16th. Keep in mind that if the 15th lands on a Saturday, Sunday, or legal holiday, the deadline is pushed to the next business day. If your organization qualifies for the May deadline, don't wait and start filing now. Before filing, there are a couple of things your organization needs to know. You will need to know your organization's EIN, which can be found on your determination letter provided by the IRS or on a previous tax return. You also need to know the organization's address on file with the IRS and have printable officer information, including their address. Now, before we proceed with filing the 990 EZ return, let's address any questions you may have about the deadlines, required...