IRS Form 990
Tax Preparation Guide for Nonprofits
Chapter One
Tools, Concepts, Filing, and
Reporting Requirements
Forms 990, 990-EZ, and 990-PF are designed to accomplish many purposes
that go far beyond simply reporting to the Internal Revenue Service (referred
to in this book as the IRS). The forms present myriad financial and programmatic
information that allows federal and state regulators to scrutinize the activities
of organizations qualifying for tax-exemption as public and private
charities, civic and business leagues, labor unions, social clubs, and many
other types of nonprofit organizations. Those that financially support nonprofits
with their time and money, as well as those journalists and scholars
who record and scrutinize their performance and impact on society, use the
forms to gather information. It is, therefore, crucial that these annual returns
be prepared, not only as a financial document, but also as a tool for communicating
an organization's mission and accomplishment to the public.
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