Sec. 6033 of the Internal Revenue Code requires most tax-exempt organizations to file an annual information return containing income, receipts, disbursements, and other information. This seems to be a straightforward requirement—not-for-profit organizations complete and submit a Form 990, Return of Organization Exempt From Income Tax, to the IRS for filing. Charitable organizations, however, can capitalize on this compliance requirement by using it to educate donors and market their organizations and programs. Consider these scenarios: – See more at: http://www.journalofaccountancy.com/issues/2016/dec/irs-form-990-for-not-for-profits.html#sthash.Dpp5I5He.dpuf
For the full story please visit the Journal of Accountancy.
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