Tax Filing for Nonprofit Organizations
One thing to know is that all PTA units are required to file the 990. This is a requirement of the Internal Revenue Service as a tax-exempt organization. The 990 is due by the 15th day of the 5th month after the close of your tax year. For example, if thetax year ended on June 30, the 990 is due November 15th. If the due date falls on a Saturday, Sunday, or legal holiday, the due date is the next business day. Late filing of the 990 may mean penalties and/or fines. Here is a guide for the 990 to file:
- 990 – Total deposits (gross receipts) greater than or equal to $200,000
- 990-EZ – Total deposits (gross receipts) less than $200,000 and greater than $50,000
- 990-N – Total deposits (gross receipts) of $50,000 or less
Please submit a copy of the 990 to the Colorado PTA office.