Proving Public Charity Status with Form 990 Schedule A

So you run a 501(c) tax-exempt organization, and you know that you still need to file a Form 990 or Form 990-EZ in order to detail to the IRS (and potential donors) where the organization’s money goes. But there’s one more thing to do: you must prove that your organization is a public charity.

IRS Form 990 Schedule A helps prove your organization’s 501(c) public charity status. There are a variety of metrics on this form, such as the public support test to measure what percentage of funds given come from the general public.

If your organization is classified as a 501(e), 501(f) 501(k), or 501(n) charity, you also must file a 990 Schedule A.

To file a Form 990 Schedule A quickly and easily, use PDFfiller’s online editing and signing tools. Click here to get started filling out an IRS Form 990 Schedule A today!

Identity Theft Victims Complaint and Affidavit: Form 14039

First came businesses like Target, Home Depot, and Ebay.  Next were the financial institutions like JP Morgan Chase, Bank of America, and Goldman Sachs.  And finally healthcare organizations, including Anthem and  No sector of the economy has been left unaffected by recent data hacks. In 2014 alone, a total of 930,526,448 records were breached according to the Privacy Rights Clearinghouse.

In the face of all this hacking, one important step you can take to protect yourself from fraud is to report identity theft incidents. The Federal Trade Commission (FTC) has developed an Identity Theft Victim’s Complaint and Affidavit IRS Form 14039. The form takes just ten minutes to complete, and you can do it online here.  The FTC identity theft affidavit can help you deal with credit reporting companies, debt collectors, and businesses that gave credit or opened new accounts in your name. Moreover you can use the FTC affidavit to place an extended fraud alert on your credit report.

While consumers are constantly reminded to change their usernames and update passwords, the fact remains that your sensitive information may at some point be compromised.  The important thing is to remain vigilant of your various accounts, use password managers that help you to remember more complicated and varied passwords, update your software, and where possible use a two-step verification system for added security.  And if you do find out that your personal information has been compromised, report it immediately using Form 14039.  Use PDFfiller to get started filling yours out now.


Form 990 & 990EZ: Tax Returns for Exempt Organizations

An organization with 501(c) status is exempt from taxation by the federal government, but that doesn’t mean it is exempt from filing a return. Instead of reporting finances for the purpose of paying tax, IRS Form 990 is a public document that details where a public charity’s money goes (it also allows for explanations of these expenses). As such, many donors will look at the most recent Form 990 for an organization before deciding to make a contribution.

It’s important to know which type of 990 form to use: the regular Form 990, or the Form 990-EZ. The difference between the two is in how much money an organization made and held in assets that year.

  • For Form 990, gross receipts should be greater than or equal to $200,000 and total assets were greater than or equal to $500,000.
  • You should use Form 990-EZ if the organization’s gross receipts were less than $200,000 and total assets were less than $500,000.

PDFfiller can help you fill out your organization’s Form 990 or 990-EZ in no time at all! Click here to get started on the 2014 Form 990 online, or click here to start filling out the 2014 Form 990-EZ. With our online editing, signing, and sharing tools, you can finish your organization’s tax forms faster than ever before. And if you need more help filling out this form, see the how-to video below.

Form 1120S Schedule K-1: S-Corporation Shareholder Profits

Continuing the conversation from last week about tax forms for corporations, there’s another type of Schedule K-1, for S Corporations. The tax return for an S corporation is the Form 1120S, but because S corporations “pass through” their profits to shareholders, the IRS requires that corporations fill out a Schedule K-1 for each shareholder. On this Schedule, the corporation will break down that shareholder’s portion of the profits (or losses) from that tax year.

The S corporation should be sure to send a copy of the Schedule K-1 to the shareholder, as they will use the information on their individual tax return.

Do you run an S corporation and need to fill out a Schedule K-1? Click here to get started on filling out an IRS Form 1120S Schedule K-1 on PDFfiller. And PDFfiller can help you with the rest of your tax forms too, so you can be done with tax season faster than ever!

Form 433: Collection Information Statements for Taxes Owed

Owing taxes to the IRS is not an ideal situation by any means, but sometimes it happens. Whether it was due to a change in your tax situation that you didn’t account for, or to required quarterly estimated payments that you forgot about, it’s important to square away your tax liability with the IRS. You can begin this process with a version of Form 433.

Form 433-A serves as an account of your financial situation (assets, income, expenses, etc) to an IRS Revenue Officer. It is a fairly long form, and you must be very careful when detailing your monthly expenses and expected income, as the IRS will use it to determine how much you must pay each month as part of an installment plan.

Form 433-B operates in a similar manner to that of the 433-A, but it is for businesses only. Businesses that need an installment plan to pay back taxes must fill out 433-B and attach all relevant financial documents, such as bank statements and bills.

Form 433-F is a shorter version of IRS Form 433-A, and it serves the same purpose of reporting your financial situation to the IRS.

Because all versions of Form 433 deal with serious issues like overdue taxes and IRS collection, it is very important that you make sure the information on your Form 433 is correct and covers every facet of your financial life. If you are unsure of any part of this form, be sure to consult a tax professional before submitting it to the IRS!

In the meantime, you can get started filling out an IRS Form 433A, Form 433-B, or Form 433-F with PDFfiller’s online editor. PDFfiller makes the entire process of staying on top of your taxes easier and faster than ever before!