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509a1 vs 509a2

What Is the Difference Between a 509(a)(1) vs 509(a)(2) Nonprofit?

A nonprofit's source of revenue can greatly affect its potential IRS classification of 501(c)(3) status. Often, an organization's purpose determines any sub-classification. In this article, we're going to take a look at what happens when it is revenue that determines…

texas tax exemption

State Nonprofit Compliance: Understanding Texas Tax Exemption

Nonprofits that file for 501(c)(3) status with the IRS enjoy federal tax exemption when that status is approved. In most states, the IRS determination letter is all that is required to also enjoy state corporate tax exemption. Texas is one…

nonprofit employee

What Forms to Issue to Your Nonprofit Staff

With the New Year comes new responsibilities. Similar to how we all anxiously await for our employers to issue us our W-2s at the beginning of the year to get our taxes and out of the way (and hopefully not…

What is IRS Form 990-PF?

Private foundations are a unique class of 501(c)(3) organization…so unique, in fact, that they have their own exclusive version of IRS Form 990, called Form 990-PF.  In this post, our 5th in this series, we’re going to examine just what…

Understanding the IRS Form 990

IRS Form 990, the full-length version, is arguably the most detailed tax return the average person is likely to encounter.  While there are certainly IRS tax forms that are equally complex, most are used for very targeted situations, not for…

What is Form 990-EZ?

This article is the third in our series that explores the various versions of IRS Form 990.  Form 990-EZ is annual information return filed by small-medium sized public charities and certain other nonprofits, at least as measured by gross revenue.

What Is IRS Form 990-N?

As we established in our Form 990 overview post, there are 5 versions of IRS Form 990, one or more of which is required to be filed annually by every 501(c) organization. Form 990-N, the shortest version and the one required…

form-990

An Overview of IRS Form 990

Wouldn’t it be great if your nonprofit never had to think about the IRS again, once they approved your 501(c)(3) status, that is?  Well, as you can imagine, that simply isn’t the case.  Nor should it be, truthfully.  As it is, the…

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